How Do I Access a Deceased Owner’s Account? Part 5
In the past 4 blog posts, I have been discussing how to access a deceased owner’s bank or brokerage account. In part it depends on whether the account is a probate asset - controlled by a will or state intestacy laws when there is no will - or a non-probate asset. But
How Do I Access a Deceased Owner’s Account? Part 4
How Do I Access a Deceased Owner’s Account? Part 3 In last week’s blog post, I explained the process of accessing a deceased owner’s account both when there is a Will and when there is not. But as I said last week, once that is accomplished the financial institution may still not
How Do I Access a Deceased Owner’s Account? Part 3
In my blog posts the past 2 weeks I have addressed this commonly asked question. I explained the distinction between probate assets - ones controlled by a will or the intestacy laws - and non-probate assets which are not. Generally, an executor or administrator must be appointed before an account can be
How Do I Access a Deceased Owner’s Account? Part 2
Last week I addressed a question we get frequently in our office - how to access the financial account of a loved one who has died. The answer is not the same for each account. We must first determine whether the account is a probate or non-probate asset, meaning “is it controlled
How Do I Access a Deceased Owner’s Account? (Part 1)
It is a common question we get when someone calls our office after a family member dies. “Can I still access their account since I am agent under power of attorney?” or “Can I use the account to pay for the funeral and other bills that need to be paid?” These questions
Medicaid Spend Down – More Involved than First Meets the Eye (Part 5)
In this fifth blog post of five, I finish up with Mary’s call to our office about qualifying her mom for Medicaid. Mary thought her mom had very few assets left which could then be transferred to a special needs trust (SNT). Unfortunately, as I have explained in my past 4 posts, Mary
Medicaid Spend Down – More Involved than First Meets the Eye (Part 4)
In this week’s blog post I continue with Mary’s call to our office about qualifying her mom for Medicaid. In my post 3 week’s ago I told you that Mary thought her mom would be able to transfer her remaining assets to a special needs trust for Mary’s brother. I explained that
Medicaid Spend Down – More Involved than First Meets the Eye (Part 3)
In this week’s blog post I continue with the story about Mary’s call to our office concerning Medicaid eligibility for her mom. Mary was seeking confirmation that Mom was ready to apply and that the home she purchased for her son 15 years ago could be transferred to the special needs
Medicaid Spend down – More Involved than First Meets the Eye – Part 2
In my blog post last week, I told you about a call we received from Mary concerning Medicaid. As is often the case, Mary initially disclosed what she thought were relevant questions about her mom’s potential eligibility. She was seeking confirmation that the answers she had arrived at were correct and that
Medicaid Spend Down – More Involved Than First Meets the Eye – Part 1
In this week’s post I return to Medicaid and a call we received a few weeks ago. Mary called concerning her mother who is in a nursing facility. Her long term care policy will be exhausted in a couple of months and Mary said she has no other assets. Her reason for calling