by admin | Nov 30, 2020 | All Law, Elder
Prior to the enactment of Minnesota’s “trust busting” statute (Minnesota Statutes section 501B.895, the predecessor to Minnesota Statutes section 501C.1206), the second type of trust commonly used to help with Medicaid planning was called a “Family Discretionary...
by admin | Nov 30, 2020 | Elder
Prior to the enactment of Minnesota’s “trust busting” statute (Minnesota Statutes section 501B.895), two types of trusts which were commonly used in Medicaid planning. The first type of trust commonly used in Medicaid planning was a “Family Income Trust” or “FIT”....
by admin | Oct 30, 2020 | All Law, Elder
Prior to the enactment of Minnesota’s “trust-busting statute” (Minnesota Statutes section 501B.895), several different trusts were commonly used for Medicaid planning. Revocable trusts—which by definition can be changed or rescinded by the trust maker—never worked for...
by admin | Oct 26, 2020 | All Law, Elder
A comprehensive estate plan can do more than simply take care of issues which arise when we die. A good plan can also help you prepare for things that may happen while you are alive. Your plan can help you determine who receives your assets when you die, as well as...
by admin | Aug 19, 2020 | All Law, Elder
WHAT ARE THE TYPICAL COSTS AND FEES I WILL BE LOOKING AT? According to the Consumer Financial Protection Bureau, reverse mortgages are more expensive than other types of loans. Unlike traditional mortgages, the amount you owe on your reverse mortgage will grow the...
by admin | Aug 17, 2020 | All Law, Elder
In recent years, HUD reverse mortgage standards have changed. HUD HECM standards have changed during the past decade as a result of massive program losses following the 2008-2009 real estate crash. To cut losses in 2013, HUD limited the amount that HECM borrowers can...
