Do I Need a Trust as Part of My Estate Plan?

In light of the COVID-19 pandemic, many people are now either considering putting an estate plan in place or reviewing their existing documents. Everyone should have an estate plan in place, whether there is a global pandemic or things are just fine for you now. Planning for the future just makes sense.

Once you decide that you need an estate plan, the next question, is “What documents do I need?”. Every competent adult should have a properly written Healthcare Power of Attorney document and Financial Power of Attorney document. (More on those in a separate article).

Some people wonder if they need a trust, or quickly dismiss a trust as an option – either because they don’t understand the benefits of a trust or think it is only for those with a net worth in the millions.

A trust is a legal document, created by a Grantor, and managed by the Trustee. Often, the Grantor and Trustee can be you – the person who creates the trust. There are many types of trusts and each has its own specific purpose. In general, the Trustee manages the assets in the Trust while the Grantor is alive, and transfers the trust assets to the beneficiaries upon the Grantor’s death.

Years ago, Trusts were a method to save on inheritance taxes. Unless your estate is approaching $11.5 million, this is not a concern for most people. Today trusts are used more for managing your assets while you are alive and distributing your assets the way you wish upon your death.

Trusts provide many benefits, including: 1) the ability to protect your assets while you are alive, by keeping your assets away from creditors or the nursing home, and leaving a legacy, 2) avoiding probate court and saving your heirs legal expenses and time upon your passing, 3) avoiding estate recovery if the State pays for your nursing home care, 4) providing a trust for your beneficiaries so your beneficiaries don’t lose your life savings to creditors, an ex-spouse or the nursing home, 5) the ability to more easily manage your assets if you are alive but not competent, 6) provide special needs planning if your beneficiary is not able to manage his/her assets due to a disability, and 7) a properly funded trust will avoid probate court when you die, and keep your estate private.

Selecting the right type of trust and drafting it for your own specific circumstance should be performed by an experienced Estate Planning attorney. Some people will research articles on the internet, and download a trust thinking that they will save themselves some money. Practicing Estate Planning is not something you want to risk with your life savings. The failure to have a properly drafted and funded trust can be expensive to fix later or cost you money by not properly protecting your assets for you or your beneficiaries. Some of the pitfalls are: not funding a trust, not having the right trust in place, estate recovery by the state, not protecting your beneficiaries.

Estate Planning is more complex than most people think. Don’t make the mistake of not putting a plan in place just because the thought of planning is daunting. The sooner you put an estate plan in place the sooner your life earnings will be protected, which will give you peace of mind.

Call 616-361-8400 now to schedule a free consultation with one of our experienced Estate Planning attorneys.

Security and Success: Choice Not Chance

It was a perfect midsummer afternoon, twelve years ago. Two men retired from the same Michigan manufacturing company. They were very much alike, these two older gentlemen. Both had better-than-average, thirty-year careers. Both were personable, well-respected, and secure. Home, nice cottage. No debt. Conservative investments. No bad habits. And both – as new retirees are- were filled with dreams for the future. More time to spend with their wives, kids, grandchildren, at the cottage, on the golf course, travel. Enjoying the retirement freedom and security they had anticipated, saved for, earned.

Recently their company had its one-hundredth anniversary. Both men returned to celebrate.

They were still very much alike. Both healthy. Both had three grandchildren. Both still devoted to their wives of over forty years. Both primary caregivers. At home. Just a few short years into retirement. Their wives suffered from Alzheimer’s Disease.

But there was a difference. One of the men struggled to make ends meet. “On duty” 24 hours per day. Exhausted. Retirement savings, cottage, comfortable home – all gone. Living on social security. The other man recently hosted his granddaughter’s wedding. At the lake. One hundred and twenty guests. Life savings intact.

Independent, secure. Primary caregiver with plenty of help. Using the Program of All-inclusive Care for the Elderly (PACE). No worries.

What Made the Difference?

Have you ever wondered, as I have, what makes this kind of difference in people’s lives? It isn’t always a native intelligence or talent or dedication. It isn’t that one person wants security and the other doesn’t.

The difference lies in what each person knows and how he or she makes use of that knowledge. Useful knowledge. Action. Follow through. Better results.

Planning Where the Rubber Meets the Road

Living Life to the fullest, whatever the circumstances.

Knowledge, concepts, ideas – all very fine. But without action? Nothing! LifePlanning™ incorporates knowledge, in real life. Getting the benefits you have earned. Avoiding nursing home poverty. Living life to the fullest, whatever the circumstances. Thousands of Michigan families use LifePlan™ techniques. Securing a better life for their families. Security is a choice. What do you choose?

Your Own Success and Security

We cannot promise you instant success or eternal security. But we guarantee that the LifePlan™ approach to the best to secure your success and meet your needs.

Get Knowledge Now!
Call 1-800-317-2812.
There’s a LifePlan™ Workshop near you.

Salvation or Sucker Punch?

Michigan’s New & Improved Auto Insurance
Know Before You Go!

By Carrier Law Attorney Bill Bereza

Can we all agree? Car insurance is too darn high! Our politicians promise new auto insurance laws to save us big money. Beginning July 2, 2020, we drivers will be saving millions! So they say. But there is no such thing as a free lunch.

Are these savings magical? Of course not. Everyone used to have unlimited personal injury coverage. Not anymore. Now they limit their coverage (it’s cheaper!) and sue you for the difference. Gee, will car accident attorneys like that? Of course, you will only get sued if you were at fault. Or if the other guy thinks you were at fault. Or if the other guy can make it seem that you were at fault. Or if the other guy was riding a motorcycle. (Huh?) Or…? Aren’t you glad our politicians simplified things?

Choose Unlimited Coverage for Yourself!

You don’t want to worry, so you get the maximum coverage possible.
The other guy CRASHES into you. The other guy hurts himself. Badly. But you are fine… not even a scratch! The other guy has low or no (NO!?) personal injury coverage. Guess who’s storming after YOU! Even if you were innocent. They are coming for your income, savings, house, whatever. For their unpaid medical bills. Is that possible? That is why they’re suing you, to find you at fault. And if the jury goes with them? You are on the hook for their unlimited medical bills.

But you are fine. You paid extra for unlimited coverage. No worries! Right? Wrong. That only covers your medical bills. Not the other guy’s. That guy chooses low/no coverage; they are coming after you. Glad we saved all that money.

Choose Low or No Personal Injury Coverage for Yourself!

Let’s save some money. No or low personal injury coverage for yourself. And what if you need a surgery? Or two or three? Good luck suing the other guy. What if you need long-term care after a car accident? Welcome to the complex maze of American long-term care. Insurance only pays for limited long-term care. When it runs out, you pay. And pay. Annual skilled nursing costs can exceed $120,000. How long can
you pay that before going broke? And when you are flat busted, Medicaid is your only resource.

Good News: You Can Still Protect Yourself

Proper Planning means peace of mind. Secure your life savings, home, cottage, business. Get quality care AND preserve resources to supplement that care. Tested, effective strategies mean you are not going broke. Lawsuits and long-term care? Handled. Life Savings Protected. Life Choices Respected.

We can help. Call (616) 361-8400

“Skilled Nursing Care” Without the Nursing Home?

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“Best Kept Secret” Provides Free Care; Thousands Don’t Know They’re Entitled to Benefits. A Government Program That Saves Money and Works Better Than Anyone Expects… Is That Even Possible?

What can be done about long-term care? You want to stay in your home. You want to care for your spouse. Now, and for all the years to come. Surrounded by family and friends. Comfortable, familiar. But you cannot afford it. What if there was help? Help that did not touch your income. And you can preserve your life savings. What if your security and independence were guaranteed? Too good to be true? No, it’s PACE. The Program of All-inclusive Care for the Elderly. Most who qualify have no idea.

Too good to be true? No, It’s PACE!

Attorney David L. Carrier has supported PACE for over 20 years. “No matter what you’ve been told, take a good look at PACE. Let’s face it, care is expensive, and nobody wants to go to the nursing home anyway. PACE means you don’t have to!” “And PACE is simple: Are you 55 or older? Are you safe at home? Some medical or physical issues? PACE might be just the thing.” Carrier suggested. “It’s surprisingly easy to get what you’ve earned. Even if you’ve been told your finances are a problem, don’t hesitate. New approaches mean that thousands of more families can avoid nursing home poverty.”

PACE is a life saver. Spousal care overwhelms even the most devoted husbands, wives, and children. One study states that “caregivers between the ages of 66 and 96 have a 63% higher mortality rate than non-caregivers of the same age.”

Caregiver spouses sacrifice themselves to keep their loved one at home. And then the institution is inevitable. For single folks, sometimes, it’s their children who decide.

That’s why thousands of your friends and neighbors wind up in institutions. That’s why nursing homes, assisted living facilities, group homes are bursting at the seams. No husband wants his wife “institutionalized.” No wife wishes her husband in the care of strangers. And does anyone want to see years of hard-won savings evaporate overnight?

PACE provides doctors, specialists, pharmacy, physical and occupational therapy, durable medical equipment, supplies, home modifications. In Kent County, a brand-new PACE Day Center has just opened. Expanded options are now available to PACE members.

You do not have to go it alone. You already paid for long-term care through your taxes.

As David Carrier has said, “You don’t have to go it alone! You have already paid for long term care through your taxes. You do not have to pay AGAIN. Free durable medical equipment. Free home alterations. No co-pays. Free transportation. Free physical and occupational therapy. And the list goes on.”

Unlike most government promises, PACE has been even better than anyone expected when it began 50 years ago.

Good News for Middle Class Michigan

Get Home Care Now – Temporary Pandemic Relief Keep Your FARM, COTTAGE, BUSINESS, LIFE SAVINGS

Can we all agree that nobody wants long-term care? Isn’t it too expensive? Who wants to go to a nursing home? Would it break your heart to institutionalize your loved one? Or exhaust life savings? How about losing your cottage, business, farm, hunting land?

And the viral pandemic has made everything worse. For the last 20, 30, 40, 50 years, you’ve shared your life with the most wonderful person on earth. Now imagine no contact. Isolation. A garbled phone call – a brief glimpse through the window.

Too bleak? Scare talk? If you know anyone actually going through it, you know the reality is much much worse.

When government changes the rules and doesn’t tell anyone, is that a secret?

But what if you or your loved one could stay at home? Getting care at home? All medical bills paid. All medical supplies, pharmacy, doctor visits (including transportation), home modifications, all expenses paid? Too good to be true? Not for thousands of your friends and neighbors. When government changes the rules and doesn’t tell anyone, is that a secret?

Last week, Michigan decided to let you keep your cottage, farm, business, life savings. And still qualify for PACE at home benefits. But only for applications during the pandemic emergency period. And they didn’t tell anybody. I had to ask. Which is why I’m here. For you.

Last week’s rule changes are temporary. When the pandemic emergency is over, these extremely favorable rules will be gone.

Sure, it sounds like baloney. I understand. Fact is, right now, Carrier Law families throughout Michigan are experiencing the truth. Comprehensive at home care. No nursing home. Not going broke. Pandemic or not.

But what if my loved one requires assisted living or skilled nursing? That’s included too. No new application. No new requirements.

Do you or your loved one qualify? Can you answer yes to these 3 questions?

  • 1. Need help with daily life? Dementia issues? Certain medical conditions? (We’ll guide you through all 7 sets of criteria.)
  • 2. Are you safe at home?
  • 3. Is your gross social security retirement less than $2349? (Special rules for singles and marrieds with pension income.)

If you’ve answered yes, it’s time to do your homework and get the benefits you have already paid for. It costs nothing to find out.

For 30 years, in my law practice and on my radio show (Sunday mornings from 7-9 on WOOD 1300; call me 888-463-2843!), on television, in print, in person, through thousands of workshops and tens of thousands of one-on-one meetings, I have advocated and obtained benefits for individuals and families like yours. Last week’s rule changes are temporary. When the pandemic emergency is over, these extremely favorable rules will be gone.

No B.S. Promise:

For almost 40 years, I’ve been practicing law; in Massachusetts and Michigan. I served as an Army Captain in the JAG Corps (and now in the American Legion). I have my Airborne Wings and a few medals. Notre Dame (BA); Boston University Law (JD); Georgetown University Law (LI.M., Tax). For 30 years, I have been making and keeping big promises to middle class families in West Michigan. And those folks refer over 40% of new Carrier Law families. That’s no B.S. And that’s a promise.

Doing work and getting results that other attorneys and law firms can’t or won’t.

It Never Costs to Call. What Could it Hurt?

Will this rule change help your family? A paralegal Discovery meeting and an Analysis meeting with me cost nothing. And may save everything. In person. By telephone. By internet. Your choice.

What Have We Learned?

Middle Class Americans – Our Greatest Hope

Work hard. Save for a rainy day. Pay it forward. Lend a hand. Play by the rules. Help the unfortunate. Worship as you will. Keep an open mind. Do unto others as you would have them do unto you. Rules we have lived by. Ideas that built our nation. Your life of commitment to these simple but profound ideals has provided more prosperity for more people than at any other time in history. Living these basic truths are our greatest hope for the future.

Who works harder than middle-class folks? Who saves more? Who pays more taxes? Who volunteers more? When the going gets tough, who do they expect to help?

And yet, who gets blamed for society’s ills? Whose values are mocked and derided? Whose contributions are dismissed or minimized? Why was it so easy for most to ignore the horrific rates of COVID-19 death in long-term care facilities? Open the paper. Watch the news. Listen. You already know the answers.

But if you’re like me, you’re not here to complain, but to make things better. What should regular, middle-class Americans, workers and retirees, do in times like these? Same thing as ever. Dig deeper. Try harder. And that starts at home. With you. Single or married. Kids or no kids.

The simple fact is that America is getting older: every day another 12,000 Baby Boomers turn 60, 65, 70. The “Greatest Generation” is in its 70s, 80s, and 90s. Poisonous rhetoric and slanted commentary about the “Me Generation” and the supposed self-centeredness of the Boomers is flat wrong. The truth is that 75% of Baby Boomers are right now caring for parents, have already done so, or expect to.

Middle-class American families have always stepped up to meet the need. Long-term care is no exception. But this challenge cannot be fully met on an individual basis. Everyone prefers care at home; who wants a nursing home? Providing that care, however, simply wears family members out.

Providing that care, however, simply wears family members out.

If your husband or wife is caring for you, almost half of the time, he or she will die first. Spouses who give care die first 40% of the time! And many more will die shortly after you do, much sooner than otherwise expected. Skilled nursing home care, according to the State of Michigan, costs almost $9,000 every month for the most basic care. Extras (like oxygen!) can easily push the total much higher. And no one can afford it.

Medicaid is the way many Americans pay for long-term care. As with so many other things, though, the burden falls hardest on those who have worked and contributed the most. No savings? No problem! Live life on a credit card? Medicaid is there for you. But if you worked hard and saved. If you were frugal. If debt was dumb and savings was smart. If you did the right things, Medicaid will not help until you are impoverished. Until all your life’s efforts are wiped away.

But if you plan ahead it is possible to: Keep your savings. Provide for your loved ones. Receive at-home care. Participate in choosing a care facility if necessary. And still pay it forward.

A terrible lesson has been accepted and taught by most planners and attorneys. Spend it down. Spend it all. You are not in control. You cannot choose. Your values are wrong. Nothing can be done. It is a counsel of despair.

But it doesn’t have to be that way. The LifePlan approach keeps you in charge. Your life savings protected. Your life choices respected.

If your husband or wife is caring for you, almost half of the time, he or she will die first. Spouses who give care die first 40% of the time! And many more will die shortly after you do, much sooner than otherwise expected. Skilled nursing home care, according to the State of Michigan, costs almost $9,000 every month for the most basic care. Extras (like oxygen!) can easily push the total much higher. And no one can afford it.

Medicaid is the way many Americans pay for long-term care. As with so many other things, though, the burden falls hardest on those who have worked and contributed the most. No savings? No problem! Live life on a credit card? Medicaid is there for you. But if you worked hard and saved. If you were frugal. If debt was dumb and savings was smart. If you did the right things, Medicaid will not help until you are impoverished. Until all your life’s efforts are wiped away.

But if you plan ahead it is possible to: Keep your savings. Provide for your loved ones. Receive at-home care. Participate in choosing a care facility if necessary. And still pay it forward.

A terrible lesson has been accepted and taught by most planners and attorneys. Spend it down. Spend it all. You are not in control. You cannot choose. Your values are wrong. Nothing can be done. It is a counsel of despair.

But it doesn’t have to be that way. The LifePlan approach keeps you in charge. Your life savings protected. Your life choices respected.

But it doesn’t have to be that way. The LifePlan approach keeps you in charge.

The first step to making positive changes is to reject hopelessness and recognize that good things are possible. Don’t accept the gloom and doom. The LifePlan Workshop shares the essential tools and techniques that have secured the future for thousands of families, just like yours. LifePlanning is not experimental, but proven time and again.

At this moment in history, America needs your example of middle-class success. Too many unfortunate young people have become disillusioned and hopeless, led astray by angry rhetoric and disinformation. LifePlanning embodies middle-class American values. We all win, one person, one family at a time.

How to Document Your Wishes

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During these uncertain times, many are rushing to document their wishes. Here are three free documents to help you do so.

Read more

Critical Documents to Have in Place

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Now more than ever, it’s important for anyone 18 or older to have the proper medical and financial power of attorney documents in place.

These documents ensure that you can act on behalf of a loved one, and that a loved one can act on behalf of you. If these are not in place in the event of an emergency, a probate court order may be required to give authorization, and many courts are currently closed or limiting access due to COVID-19.

An excerpt from another attorney asking for advice:

“I just received a call from a client. Mom and Dad both have Coronavirus. Ambulance took Dad to Henry Ford Hospital; advised Mom to stay home because she could still walk. Dad has dementia and is understandably out of sorts and unable to answer basic questions for hospital staff. Hospital won’t permit family to visit, of course, and are only communicating with family on an emergency basis (i.e. when they thought they were going to lose Dad earlier today).

Dad has a POA, but no Health Care POA. Hospital advised family to secure a guardianship for Dad. I cannot reach Macomb County Probate Court.”

If you need power of attorney documents, we can help.

During these challenging times, we still have the capability to draft documents – including Health Care and Financial Power of Attorney documents – and have them properly signed, witnessed, and notarized in a safe, controlled environment.

To set up a phone call or video conference to create your power of attorney documents, call us at (800) 317-2812 or email us at david@davidcarrierlaw.com.

 

Why You Need a Health Care Power Of Attorney

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The most important legal document you can have right now is a Health Care Power of Attorney.

An excerpt from another attorney asking for advice:

“I just received a call from a client. Mom and Dad both have Coronavirus. Ambulance took Dad to Henry Ford Hospital; advised Mom to stay home because she could still walk. Dad has dementia and is understandably out of sorts and unable to answer basic questions for hospital staff. Hospital won’t permit family to visit, of course, and are only communicating with family on an emergency basis (i.e. when they thought they were going to lose Dad earlier today).

Dad has a POA, but no Health Care POA. Hospital advised family to secure a guardianship for Dad. I cannot reach Macomb County Probate Court.”

If you do not have a Health Care POA in place, your family must go to court to secure guardianship to make decisions on your behalf. During the COVID-19 crisis, many courts are closed or operating on a limited capacity.

 

If you would like to create or update powers of attorney, call us at (800) 317-2812 or respond to this email to schedule a phone or video conference.

 

If you have any other questions or concerns, please don’t hesitate to contact us.

 

COVID-19 Updates

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March 25, 2020

In light of Governor Whitmer’s executive order 2020-21 (COVID-19) to stay at home, our offices are closed and we will not be conducting routine in-person meetings or workshops through April 13.

However, we want to reassure you that the Carrier Law team is still here to support you. During these challenging times, we still have the capability to draft documents, and have them properly witnessed and notarized.

We are working remotely with the following options available to provide continuous service.

Meet with us via phone call or video conference.

If you have an upcoming meeting at one of our offices, you will be notified with details for meeting via phone or video conference. If you would like to schedule a new appointment, respond to this email or call us at (800) 317-2812.

Create or update legal documents like Powers of Attorney.

Now more than ever, it’s important to have the proper medical and financial powers in place. These documents ensure that you can act on behalf of a loved one, and that a loved one can act on behalf of you. If these are not in place in the event of an emergency, a court order is required to give authorization, and the courts are currently trying to limit access due to COVID-19. If you would like to create or update powers of attorney, call us at (800) 317-2812 or respond to this email or to schedule a phone or video conference.

Sign and notarize documents in a safe, controlled environment.

Documents like powers of attorney are not legally-binding until they are signed, witnessed, and notarized. We have temporarily implemented alternative measures that will allow you to do this in a safe, controlled environment. These signings will be arranged on a need basis by appointment.

View our LifePlan workshop via video recording.

If you were scheduled to attend a LifePlan workshop, you can view the material via video recording. Since it is a recording, it can be viewed at any time. You do not need to watch it at the time of your scheduled workshop. You will need a computer or mobile device with speakers and internet connection. Below is a link to access the webinar:

https://davidcarrierlaw.itulwebdev.com/free-lifeplan-workshop-webinar

We are here to help you get through this. We will navigate the unknowns together and ensure you are legally secure. If you have any questions or concerns, please don’t hesitate to contact us.

 

Client Success Stories…

We were very happy with the information at the workshop on Estate Planning [LifePlan workshop]. Amanda was very helpful in explaining the options we could choose from to protect our assets from excessive taxes.

All questions were answered in depth and in a manner that was very understandable. I left feeling confident that we can contact them at any time for help navigating the system.

The staff are incredibly professional. My mother was treated with utmost respect. Her paperwork was organized and concise. I dealt with David and Jim and they spoke in terms my mother and I could understand.

I was totally lost when my husband’s dementia got bad. David and his group helped me feel in control again. They are there to help me whenever I need them. I should have done this sooner.

Perfect balance of pleasant and professional. Starting with workshops with targeted info, to chit chat with David (and all the staff we met) – great experience. Thank you!

My husband and I just returned from your workshop in Portage…We are so pleased we attended and came away with so much information and insight. The workshop was well organized, well presented and your staff was wonderful. Patrick made things fun, and as he promised, the time flew by. Thanks you again for 2 very well spent hours.

Donna & Stephanie are extremely professional, on top of everything, friendly and just a joy to work with. Very prompt on phone calls, emails, etc. I am very thankful for these two people!

We have been extremely pleased with the professional service of David and the staff. It has been a pleasure working with everyone to make sure our future is secure. David was also very helpful finding an out of state attorney to help our parent’s address their Elder law needs.

Our Promise: We do not share or sell your personal information. Privacy Policy.

“The Law Offices of David L. Carrier is an estate planning and elder law firm located in Western Michigan. Our main office is in Grand Rapids, and we have 3 other conveniently located offices in West Michigan. We specialize in medicaid crisis planning, estate planning, elder law, probate, wills and trusts.

Our Office Locations

Grand Rapids, MI

Norton Shores, MI

Holland, MI

Portage, MI

Practice Areas

Medicaid Crisis Lawyers

Estate Planning Lawyers

Elder Law Lawyers

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Probate Lawyers

Trust Funding Center

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