Tag Archives: advice

Transferring Assets and the Five Year Look-back

When an individual applies for Medicaid assistance in a nursing home, one of the first questions that is asked of them has to do with whether a transfer has been made of any asset for less than fair market values within five years (60 months) of the date of the application.  If such a transfer has been made, a “penalty period” will result depending on the value of the gift.  The larger the gift, the longer the penalty period.  Continue reading

Tips for Having “The Talk” with Mom about Assisted Living

As an outside observer, often times, it is the child who first notices changes in Mom that signal it may be time for her to move to an assisted living community. How will she react? How should you bring it up? Knowing what to say and how to begin can be the most difficult part of the entire conversation. So here are a few tips to help you talk with Mom about moving to an assisted living community. Continue reading

How to Ensure Your Pets are Cared for After You’re Gone

Pet trusts have become more and more popular over the years as senior pet owners are looking for ways to ensure their pets will be well cared for when they’re not longer able to do the caring.

Here are sine tips to help you get stated.

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Simple Changes for Making a Home More Accessible

What tips or products can you recommend to help make a home safer and more convenient for those who are aging or have a disability? My husband and I don’t have the money for any big renovations, but we want to do what we can to make our home safe and accessible.

There are many simple ways to modify your home so that it is safer and more livable. Here are several inexpensive or free modifications to consider.

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Separate & Joint Property

Published September 14, 2012
United Methodist Foundation for the Tennessee and Memphis Conferences

“My brother Pete and I own a ranch together,” said Joe to his advisor. “Our mother deeded the four sections of her ranch to us with right of survivorship. As a single person, I think that I will plan to leave 50% of my share to Pete and the other half to my favorite charity. Of course, if Pete dies, he is married and probably wants to leave his share to his spouse and children.”

Do Pete and Joe need to review their estate plans? Yes! These two rancher brothers held title as joint tenants with right of survivorship. If the single brother (Joe) were to pass away, Pete would inherit his brother’s half of the ranch. Even though Joe stated that half of his share should go to his favorite charity, nothing will be given to charity.

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