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Embracing the Golden Years – EP. 33 – Life’s Third Act
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Attorney-CPA Joe Cordell and co-host Jill Enders are joined by Gail Zugerman, host of the podcast Growing Old With Gusto.
Ms. Zugerman discusses how her career in marketing served as a springboard for her senior-focused podcast, her tips for changing your attitude as you age, misconceptions about growing old, main concerns seniors have about aging, whether she believes attitude regarding aging are evolving, the differences in how men and women view aging, and more.
Listen and subscribe to Growing Old With Gusto: https://growingolderwithgusto.com/
If you have any questions about estate planning or elder law, get in touch with an attorney at TuckerAllen.
The Resource of Medicaid Planning [Episode 168]
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Jill Enders is joined by TuckerAllen attorney Missy Shands Manning to discuss Medicaid planning as a method of asset protection, while paying for long-term care.
Missy explains what a Medicaid asset protection trust, or irrevocable trust, is and how it functions to protect what you put in it, in order to allow you to qualify for Medicaid. She talks about the ins and outs of the five-year lookback period and how penalties from that function.
She highlights what spend-down means and offers examples that work to get to the $5,000 qualifying limit for Medicaid. Missy also talks about exemptions that exist, when it comes to gifting money and limits that are involved.
Missy also dives into long-term care, including when to start preparations, crisis Medicaid planning, the quality of care, and collection after death. She also talks about the Medicaid application process if you own a business.
She talks about how COVID-19 has affected those on Medicaid, looking to enter nursing homes and long-term care facilities.
Chicago Tribune Article – Birth Dads Still Fighting
Cordell & Cordell Principal Partner Joe Cordell was recently quoted in an article published in the Chicago Tribune titled, “Birth dads still fighting for bigger role in adoption process.”
The story details how biological fathers traditionally have been overlooked during in adoptions. However, that is gradually changing.
Although historically adoptions have primarily included the child, adoptive parents and birth parents, birth dads are starting to participate more and more in the adoption process, but the burden is still on him to prove paternity.
Many states also have putative father registries, which involve varying rules and procedures depending on the state. The registries’ deadlines, and an overall lack of knowledge that the registries exist, also work to squeeze birth fathers out of the process.
In the article, Mr. Cordell recommends doing whatever is necessary to stay on amicable terms with the birth mother while going through the adoption process.
“Avoid conflict (put three exclamation points here) with the birth mom,” Mr. Cordell said. “She can make this difficult for you by saying you’re not the father. When there’s a conflict, the birth mom wins.”