Nursing Home Medicaid – The Effect of Disinheriting a Spouse

Scott Selis — Mon, 11 Jan 2010 17:38:32 +0000

Scott A. Selis - Elderlaw Attorney

So, your wife or husband is in a nursing home and on Medicaid. Shortly thereafter, you got worried or heard that if you die first and leave everything to your spouse, that Medicaid will take that money. So, you did or considered doing the logical thing. You disinherited your husband or wife by changing your estate plan to leave everything to other loved ones. And now, you think that you’ve protected those funds. Well, think again.

Under Florida Law, a surviving spouse is entitled to receive at least 30% of the deceased spouse’s assets (a/k/a “stuff”), including insurance proceeds, IRAs, annuities, etc., and is entitled to live in the residence for the rest of his/her lifetime. And guess what, when you changed your plans, that doesn’t stop Medicaid from penalizing the survivor by making him/her ineligible for Nursing Home Medicaid.

There are legal, moral & ethical ways around this by simply following Medicaid’s rules and regulations. Doing so is not as easy as you might think, so you should rely upon a lawyer who specializes in elder law.

Contact the Asset Protection & Estate Planning Law Firm to give yourself and your loved ones the peace of mind that comes from knowing that what you have will go to who you want after your death, and not to creditors or other predators.

Scott A. Selis, Esq.

386-868-5337

scott.selis@seniorlawtoday.com

Asset Protection & Estate Planning Law Firm

570 Memorial Circle, Ste. 200

Ormond Beach, FL 32174

Refusal to Recognize Power of Attorney Results in $64,000.00 Judgement Against Bank of America

Scott Selis — Mon, 14 Dec 2009 20:56:13 +0000

Scott A. Selis - Elderlaw Attorney

If you’ve ever been frustrated by an organization’s refusal to honor a Durable Power of Attorney, you’re not alone. A power of attorney allows an individual to select another person or people to handle their financial affairs.

However, many financial institutions frequently refuse to honor a properly signed and witnesses power of attorney. When Bank of America refused to honor a request to withdraw funds from an account, the person making the request sued and won $64,000.00.

Most people don’t realize that Florida law allows an agent to sue any institution that refuses to recognize a power of attorney for damages, costs and attorney fees. So, if a financial institution has refused to honor a power of attorney that has been properly signed and witnessed, then you should consult with a lawyer to find out what you can do to enforce your rights.

Scott A. Selis, Esq.

570 Memorial Circle

Suite 200

Ormond Beach, FL 32174

386-868-5337

866-437-3223 (fax)

Scott.Selis@SeniorLawToday.com

Florida Estate Planning bLAWg

Nursing Home Medicaid – The Effect of Disinheriting a Spouse

Refusal to Recognize Power of Attorney Results in $64,000.00 Judgement Against Bank of America