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FREE Webinar: Michigan Lady Bird Deeds: When They Help—and When They Don’t

October 29 @ 12:00 pm

A Lady Bird Deed can be a useful estate planning tool for Michigan homeowners who want to determine what happens to their real estate after death while retaining broad control of the property during their lifetime. But avoiding probate is only one part of the decision.

Join Estate Planning & Elder Law Services, P.C. for a FREE educational webinar exploring how Michigan Lady Bird Deeds work, when they may be a good fit, and circumstances where a will, trust, or another estate planning approach may make more sense.

Ready to learn more? REGISTER HERE to reserve your spot for this complimentary webinar.

We’ll discuss what control a homeowner retains, how property transfers at death, and practical issues that can arise when there are multiple beneficiaries, minor beneficiaries, changing family circumstances, or disagreements about what should happen to the home. We’ll also look at how Lady Bird Deeds may intersect with taxes, long-term care planning, and the rest of an estate plan.

This webinar is designed for Michigan homeowners, individuals reviewing their estate plans, family members who may eventually inherit real estate, and professionals who advise clients on financial, tax, real estate, or estate planning matters.

View Class Descriptions and Sample Class Files

Details

Class Descriptions and Sample Class Files

Estate Planning Basics

Probate, long-term care, and tax laws are constantly changing. Find out how to prevent your assets from going through probate, how to protect unnecessary taxation, how to retain control of your affairs, and how to protect yourself against the costs of long-term care.

Discover the dangers of using joint accounts and quit claim deeds as estate planning tools. Learn about medical and financial powers of attorney, wills, “Ladybird” deeds, and living trusts.

Attendees will learn about how “gifting” can affect them and the recipient, including gift tax laws, capital gains tax laws, as well as the person’s eligibility for Medicaid and Veterans benefits. The class will cover recent changes in Michigan’s real estate laws, which prevent the reassessment of the taxable value of the property for transfers to family members.

Learn about Michigan’s “Estate Recovery” law, whereby the State can seek repayment from a person’s estate for governmental benefits paid, and ways to prevent that from happening.

Long-Term Care / Medicaid Planning

Did you know that 50% of people 65 years or older will spend some time in a nursing home and that it costs $8,000 a month for such care? Because neither health insurance nor Medicare covers these costs, losing one’s life savings to such costs is a natural fear.

The course discusses ways to avoid the nursing home, in-home care options, payment options, long-term care insurance, life insurance conversions and hybrids, Veteran’s and Medicaid benefits, special needs trusts, and more.

There have been significant changes to the Medicaid and VA rules. For example, did you know that paying a caregiver can disqualify you from receiving Medicaid benefits? Learn how to avoid the Medicaid “Estate Recovery” law, which seeks repayment from a person’s estate for benefits paid.

Learn about the VA’s proposed look-back period, which causes ineligibility if you make a gift or purchase an annuity within three years of applying for VA benefits.