Estate Planning & Elder Law Overview
Topics Covered: Wills, Trusts, Probate, Avoiding Probate, Estate Tax, Powers of Attorney, Health Care Powers of Attorney and Living Wills. Time & Place: RecWest Enrichment Center Dining Room, Washington Township Rec. Center, 965 Miamisburg-Centerville Rd., Centerville Ohio 45459– June 24, 2021 @ 1:00 P.M. to 2:30 P.M.. Please call (937) 433-0130; select option 1, then select option 2 for reservations or register online at https://webtrac.washingtontwp.org/wbwsc/webtrac.wsc/SPLASH.html
Protecting Your Estate from Nursing Home Costs
May 26, 2021
Medicaid eligibility for nursing home costs, Trusts, risks of gifting to children and understanding Medicaid’s gift transfer rule. Presentation by Michael J. Millonig, Attorney At Law, Listed in Best Lawyers in America: Elder Law, Certified as an Elder Law Attorney by the National Elder Law Foundation, Ohio State Bar Association Board Certified Estate Planning, Trust and Probate Specialist.
Topics Covered
▸ Review of all new changes resulting from Ohio’s conversion to an SSI/1634 State
▸ New Medicaid income eligibility rule
▸ Miller Trusts (a.k.a. Qualified Income Trusts) now required for many applicants
▸ Medicaid eligibility
▸ Asset protection strategies
▸ Resource exemptions for the community spouse (spouse at home)
▸ Use of Trusts to protect estates
▸ Medicaid Annuities
▸ Risks of gifting to children
▸ Understanding Medicaid’s Gift Transfer rule
▸ New rule for Residence exemption for single persons & our success with exemptions ▸ Insurance for nursing home care
▸ Special Needs Trusts under Medicaid law for children with disabilities
Presented in association with the WashingtonTwp/Centerville Library. Date & online sign up: Wednesday, May 26, 2021 @ 3:00 PM to 4:30 PM. This is not an in-person presentation at the library. To sign up online for this virtual online presentation via Webex go to:
SEMINARS FOR CPA’S & FINANCIAL PLANNERS
The following seminars are offered for CPA’s, financial planners and insurance agents for continuing education credits. These are not consumer oriented seminars. Registration links are at the bottom of this post.
ASSET PROTECTION PLANNING FOR NURSING HOME COSTS Friday, December 11, 2020 @ 8:45 AM – 12:00 PM via ZOOM online of course
▸ Review of all new changes resulting from Ohio’s conversion to an SSI/1634 State
▸ Review all new resource eligibility rules
▸ Miller Trusts (aka Qualified Income Trusts) now required for many applicants
▸ Problems with clients not using Miller trusts correctly; caseworkers now requiring stricter compliance
▸ New rule for Residence exemption for single persons & our success with exemptions
▸ Medicaid Transfer rule; more changes and problems
▸ Resource exemptions for the community spouse (spouse at home)
▸ Restrictions on Medicaid annuities and planning opportunities
▸ Annuities used for planning & related malpractice of agents
▸ Medicaid Transfer rule; not just 5 years but an ineligibility period beginning after spend down! ▸ Office procedures to avoid malpractice
▸ Long Term Care Insurance for nursing home costs
▸ Additional Medicaid exemptions for persons with Partnership Plan Policies
▸ Assisted Living rules for Medicaid
▸ Many other planning options to protect the estate and qualify for Medicaid
▸ Why your clients should not be giving their assets to their children
▸ Special Needs Trusts under Medicaid law for children with disabilities
OHIO TRUST CODE (also approved as “The Complete Trust Course“) Thursday, December 10, 2020 @ 8:45 AM – 12:00 PM
Trusts are usually the centerpiece in estate planning for high net worth individuals. Therefore, it is important to understand some fundamentals about trusts and the specifics of the many types of trusts used in estate planning.
▸ This presentation will cover fundamental legal principles of trust law to help you be able to read a trust document and understand legal terminology.
▸ Comprehensive Review of a Trust Document; this will help you in your discussions with the attorney who drafted the document.
▸ Rights of beneficiaries that apply even if contrary to the trust.
▸ Avoiding probate with a revocable living trust; common mistakes by clients; comparison to TOD, POD accounts and beneficiary designations; disadvantages of the latter.
▸ How to explain trusts to clients; Trust Terminology review
▸ A-B Trusts, Life Insurance Trusts, Incentive Trusts, Spendthrift Trusts, Trusts for second marriages
▸ Estate tax planning under the higher exclusion amount ($11,580,000 for 2020)
▸ A-B Trusts compared to the portability election; pitfalls of portability
▸ Asset Protection Trusts to protect clients from lawsuits
▸ Ohio Legacy Trust Act: an asset protection trust under Ohio law
▸ Foreign Asset Protection Trusts under laws of other countries
▸ Perpetual Dynasty Trusts that continue to provide protection and avoid estate tax for grandchildren and beyond
▸ Many other different types of trusts will be covered
CONTINUING EDUCATION CREDIT
The above seminars have been approved for CE credit by the Ohio Department of Insurance. There is no exam required to obtain CE credit. Michael Millonig LLC is registered with the Accountancy Board of Ohio as a Continuing Education Sponsor. Asset Protection Planning for Nursing Home Costs and The Ohio Trust Code (“The Complete Trust Course”) are each approved for 3 CE Credits.
REFUND POLICY: Cancellations received by 5:00 PM two business days prior to the seminar will be refunded less a $15 office fee. Those not attending will receive the course materials in full consideration of tuition paid.
TUITION: Tuition is $60 per seminar if pre-registered and paid two business days prior to the day of the seminar. Registration on the day before or the day of the seminar is $70.00. There is a discount if you pre-register for two courses (see below).
To register, click below Asset Protection Planning for Nursing Home Costs: https://zoom.us/webinar/register/7016063134852/WN_767br6d7QFuNt3gcccjggA
Trust seminar: https://zoom.us/webinar/register/7816063135472/WN_464eBaU7TsCEinPM-s4L7w
Reservations must be made in advance on online with Zoom. Please check your email for the link for Zoom registration. In addition, you must send payment in advance. Please send a check via U. S. Mail to Michael Millonig LLC, Attn: Agent/CPA CE Seminars, 7929 Washington Woods Drive, Dayton, Ohio 45459-4026.
Medicaid Eligibility for Nursing Home Residents
Thursday, November 18, 2020 @ 8:45 AM – 12:00 PM and Wednesday December 9 2020 @ 8:45 AM – 12:00 PM via ZOOM online of course; see registration link below
This seminar will focus on Medicaid eligibility from the point of view of the nursing facility. This is not a consumer oriented seminar. The intended audience is nursing home and other personnel who work with residents applying for Medicaid eligibility. It will not focus on planning techniques to preserve assets and achieve Medicaid eligibility. The objective is to provide information, tips and relate the experience of Michael J. Millonig to assist nursing homes in avoiding problems with Medicaid applications.
Medicaid Eligibility For Nursing Home Residents
▸ Review of basic Medicaid Eligibility rules for nursing home vendor payments
▸ New COVID-19 emergency rules affecting Medicaid applications
▸ Medicaid provisions relating to Economic Stimulus Payments
▸ How to complete signing of will & powers of attorneys for residents during COVID
▸ Review all new resource eligibility rules
▸ Miller Trusts (aka Qualified Income Trusts)
▸ Retroactivity problems related to Miller Trusts
▸ Problems with clients not using Miller trusts correctly; caseworkers now requiring stricter compliance
▸ Revocable Living Trusts and Medicaid eligibility
▸ Residence exemption for single persons & our success with exemptions
▸ Common Problems causing ineligibility & how to avoid them
▸ Medicaid Transfer rule
▸ Explaining the Transfer rule to residents to avoid creating problems
▸ Undue hardship rule & provision for nursing homes to apply for resident
▸ Rule governing nursing home contract entrance fees
▸ Other important Medicaid rules: annuities, home equity, life estates
▸ Community Spouse Resource Allowance provisions and spend down rules
▸ Assisted Living rules for Medicaid
▸ Coordinating AL Waiver applications successfully with the Area Agency on Aging
▸ Retroactive eligibility
▸ Practical tips on processing applications and dealing with caseworkers
▸ Avoiding problems in the spend down process
This seminar has been approved for 3 CEU’s for Licensed Social Workers & Counselors.
TUITION: Tuition is $40 for persons requiring credit if pre-registered and paid two business days prior to the day of the seminar. Registration on the day before or the day of the seminar is $60.00. COVID-19 special: If you do not need Licensed Social Workers & Counselors CEU credit, there is no charge. However, you must register via Zoom. See links below.
Refund Policy: Cancellations received by 5:00 PM two business days prior to the seminar will be refunded less a $15 office fee. Those not attending will receive the course materials in full consideration of tuition paid. Reservations must be made in advance on online with Zoom.
Please send a check for $40.00 via U S Mail to Michael Millonig LLC, Attn: Medicaid CE Seminars, 7929 Washington Woods Drive, Dayton, Ohio 45459-4026. If you need CE credit, please provide your State of Ohio Social Worker or Counselor Accrediting License #
November 18 registration link:
https://zoom.us/webinar/regist...
December 9 registration link:
https://zoom.us/webinar/regist...
If your group or organization needs a speaker for a program, meeting or other event, Michael Millonig is available to speak on any area related to elder law, estate planning, probate, or trust law. The most popular seminars include:
Protecting Your Estate From Nursing Home Costs
Discusses insurance for nursing home care, asset preservation strategies, Medicaid eligibility, Medicaid Trusts and risks of gifting to children.
Estate Planning & Elder Law: An Overview
Discusses Wills, Trusts, Probate, Avoiding Probate, Estate Tax, Powers of Attorney, Health Care Powers of Attorney and Living Wills.
Using Trusts in Estate Planning
Presents an overview of the basic concepts, terminology and legal principles of Trusts. Discusses the “Revocable Living Trust” used to avoid Probate. Other trusts discussed include those used to reduce or avoid Federal & Ohio estate tax, Life Insurance Trusts and Trusts for Second Marriages.
Estate Planning for Funerals & Burial
This is a consumer oriented seminar; not about selling prepaid funeral plans. All the different options for various types of funeral arrangements will be presented with an emphasis on how to save money in this process. I will also present information on the Ohio law governing who has the right to make funeral decisions for the deceased and the legal document that you can sign to state your wishes and appoint a person under Ohio law to make all your funeral and burial arrangements.
Asset Protection & Offshore Trusts
Presents legal methods to protect your assets from the risks of future litigation, government expropriation and other threats. Some of the topics presented include Limited Liability Companies, Family Limited Partnerships, State law exemptions for assets, Domestic and Foreign Asset Protection Trusts, and U.S. income, estate and gift tax consequences of Asset Protection Trusts.
Advanced Estate Tax Planning for Estates over Eleven Million Dollars
The focus of this seminar is on strategies to reduce federal estate tax which imposes a tax at rates of almost 50%. Topics covered include Trusts, Family Limited Partnerships, Dynasty Trusts, A-B Trusts, Life Insurance Trusts, Revocable Trusts to Avoid Probate, Business Succession Planning and tax-free gifts.
NOTE: Educational materials are provided at all seminars. These are not sales-oriented seminars and there will be no forms, packages or other materials offered for sale.
