Hannon Taylor Ford’s Answers

Hannon Taylor Ford

Windom Estate Planning Attorney.

Contributor Level 11
  1. Protect house from Medicare/Nursing home

    Answered about 4 years ago.

    1. Hannon Taylor Ford
    2. Allen Leigh Harris Jr.
    3. Susan Lynne AlexanderMyers
    3 lawyer answers

    There are many good options in MN for protecting a home from N.H. I'd like to specifically point out that MN doesn't allow any trust (revocable or irrevocable) to protect a home as suggested by other answers. MN also doesn't allow a home to be considered an unavailable asset unless you or a spouse are living there at the time of application (unlike some states that allow an exempt homestead). These laws are different from state to state. I recommend consulting with an Elder Law attorney as...

    Selected as best answer

  2. How quickly do life insurance companies have to distribute to beneficiaries upon death of policy holder?

    Answered over 4 years ago.

    1. Hannon Taylor Ford
    2. Theodore W. Robinson
    2 lawyer answers

    The collection timing on life insurance is not statutory. The contract could affect timing, but most contracts only require that there be a death. Your hold up is because there appears to be a dispute as to the beneficiary and timing of the possible beneficiary changes. The company will make sure there are no mistakes in this case and will require that their lawyers clear any proceeds to be paid out. If the other party agrees that there is some dispute, it may have to be settled in court....

    Selected as best answer

  3. Will leaves vehicle with a loan to son, can he have vehicle immediately?

    Answered over 4 years ago.

    1. Hannon Taylor Ford
    2. Theodore W. Robinson
    2 lawyer answers

    In MN, the gift to your brother of the vehicle will depend on how the Will is written and if it is in the personal property memorandum. It may be that the loan will be paid off by the estate and possible that it is not and goes with the gift as mentioned in the previous post. You should take the will to an estate planning attorney near you to get your real answer (Perhaps the attorney that helped you get appointed as PR). Best wishes.

    Selected as best answer

  4. Need a probate attorney. Can assets be sold prior to probate?

    Answered over 4 years ago.

    1. Hannon Taylor Ford
    2. Bert Z. Tigerman
    2 lawyer answers

    First, MN will not allow for attorneys to take a percentage of the estate. Second, to answer your question, you can pay the attorney out of the estate. So long as they have a good contract with you, they should be able to collect their fees, so long as there is enough assets in the estate left. Many attorneys would shy away from this, as from your post, it appears there is nothing left in the estate and what you are really doing is thinking about recovering from someone under a theory of...

    Selected as best answer

  5. Does life insurance pass through probate in South Dakota

    Answered over 4 years ago.

    1. Hannon Taylor Ford
    2. Lu Ann Trevino
    2 lawyer answers

    Adding the the previous correct answer; if the life insurance list your father's estate as the beneficiary a probate may be necessary. You should contact an estate planning attorney to discuss how to compell all information from your father's estate. Even if you don't need the probate, this may be the only way to find out what else is there.

    2 lawyers agreed with this answer

  6. My mother recently pass away, no will, only asset real estate, no debts.

    Answered over 4 years ago.

    1. Michael David Burville
    2. Hannon Taylor Ford
    2 lawyer answers

    Other ways to save money are to have all necessary documents for the attorney. Since attorneys will charge by the hour for probate, try to use as little of the attorneys time as possible. You want to bring all the abstracts and any other property information you have with you. The best thing to do is always in hindsight, and that would have been to avoid the probate altogether. I would have recommended either a Trust or a Transfer on Death Deed (depending on your mother's goals), to pass...

    1 lawyer agreed with this answer

  7. Is there an ability to appeal termination of medicare benefits

    Answered over 4 years ago.

    1. Hannon Taylor Ford
    2. Harry S Margolis
    2 lawyer answers

    I agree with the former answer that an Elder Law Attorney should be consulted right away. I wanted to add a couple of notes to your question. First, "the county owns your soul" is a broad statement that would scare the heck out of anybody. A good elder law attorney can help protect a lot of your father's assets from the county's grasp. Second, there is always a recourse to a government decision. Deciding how best to do that would require hiring a specialist in that area. I would be happy...

    1 lawyer agreed with this answer

  8. Life insurance policy

    Answered over 4 years ago.

    1. Hannon Taylor Ford
    1 lawyer answer

    Life Insurance Beneficiaries will recieve the proceeds upon death "by operation of law". Simply stated, it will not go into the estate (I think you mean estate) but directly to the spouse. If the policy is meant to pay out a spouse upon the death of one of the owners, you should change that beneficiary to the company or the other owner (dependent on how you will set up your Operating Agreement and Buy-Sell). The best advice I could give is to get that Business Succession plan set up and...

    1 lawyer agreed with this answer

  9. Is it okay for an elderly person to gift money to a child to reduce savings so they can receive medicare or medicaid benefits.

    Answered about 4 years ago.

    1. Hannon Taylor Ford
    2. Glenn A Jarrett
    2 lawyer answers

    So long as the elderly person does not commit fraud when answering the application question, "have you or your spouse disposed of any property for less than fair market value?" then the gifting is OK. The proper way to gift to make sure the elderly person does not recieve a penalty that they cannot cover with other assets is the real trick. There are many good ways/legal ways, to protect assets to apply for medicaid benefits. Also, just so you know, medicare is not asset tested, and does...

    1 person marked this answer as helpful

  10. Splitting up Joint CD ownership

    Answered about 4 years ago.

    1. Hannon Taylor Ford
    1 lawyer answer

    The correct answer to your questions depend on a couple of things. Mainly, how did you come to own the CD's jointly. If you can prove that you both contributed to these CD's then you may divide them up in the same percentage. Otherwise, there are gifting rules involved and it would likely affect the Medical Assistance application results. I highly recommend you consult with a qualified Elder Law Attorney about how to do this in the best way. Best wishes.

    1 person marked this answer as helpful