I was at my local library in Oakland county (I don't want to name which library) and a booklet caught my eye near the entrance. The booklet was entitled "Changes and Choices; Legal Rights of Senior Adults." As a Michigan estate planning lawyer who also focuses on Michigan elder law and senior issues, I was intrigued. I saw a long time state representative (I won't name who, it's not important) had affixed his information to the booklet.
I thought, "well that is a helpful resource." A guide to advise Michigan seniors. So, I grabbed a free copy and took it back to my office.
Well, the first thing I noticed on this guide to Michigan seniors was the date of publication. It was printed in 2005. Quite a bit has changed since 2005, especially in terms of Medicaid planning. That was the first red flag.
I flipped through a couple pages and quite frankly, I was taken aback by the amount of misinformation, out dated law, and blatantly wrong statements.
For example, the whole section on Medicaid is outdated, as the rules and law are currently in flux with estate recovery in Michigan on the horizon (when the Feds at the Center for Medicaid Services accept our proposed plan).
The next big issue I saw was the definition of tenancy by the entirety. According to the Michigan senior guide, this type of ownership is the exact same as joint tenants with full rights of survivorship, but for husband and wife. This is blatantly wrong! Tenancy by the entirety, sure is between husband and wife, but there are added benefits including added levels of creditor protection. This is vitally important when deciding to fund a trust with a residence between husband and wife in Michigan.
I thought, "well that is a helpful resource." A guide to advise Michigan seniors. So, I grabbed a free copy and took it back to my office.
Well, the first thing I noticed on this guide to Michigan seniors was the date of publication. It was printed in 2005. Quite a bit has changed since 2005, especially in terms of Medicaid planning. That was the first red flag.
I flipped through a couple pages and quite frankly, I was taken aback by the amount of misinformation, out dated law, and blatantly wrong statements.
For example, the whole section on Medicaid is outdated, as the rules and law are currently in flux with estate recovery in Michigan on the horizon (when the Feds at the Center for Medicaid Services accept our proposed plan).
The next big issue I saw was the definition of tenancy by the entirety. According to the Michigan senior guide, this type of ownership is the exact same as joint tenants with full rights of survivorship, but for husband and wife. This is blatantly wrong! Tenancy by the entirety, sure is between husband and wife, but there are added benefits including added levels of creditor protection. This is vitally important when deciding to fund a trust with a residence between husband and wife in Michigan.
Another issue I have is that it covers the disadvantage of adding
someone to an account as joint owners. It only lists one possible
disadvantage, that being the possibility of the added individual
withdrawing from the account. In reality, this is one of the worst
possible ways to try to avoid the Michigan probate system for a whole slew of reasons
including, loss of control over the account, opening yourself to the
claims of the other account holder, and also possible tax consequences.
I only spent five minutes reviewing the Michigan "Changes and Choices; Legal Rights of Senior Adults" and found the above issues, errors and outdated information. I could probably spend an hour pointing out all the problems with the booklet. That's not my point.
My point is anyone can put out information geared towards seniors. Be careful out there, I'd recommend before following any of the estate planning advice, consult a Michigan estate planning lawyer. Not just any lawyer that dabbles in Michigan estate planning, but one who's main focus is on estate planning. Otherwise there can be hefty consequences following the bad advice which can be difficult to correct without court involvement.
I am now going to call the Michigan State Representative and ask him to refrain from the erroneous and outdated marketing to seniors.
-Christopher J. Berry, Esq.
Michigan Estate Planning Lawyer
I only spent five minutes reviewing the Michigan "Changes and Choices; Legal Rights of Senior Adults" and found the above issues, errors and outdated information. I could probably spend an hour pointing out all the problems with the booklet. That's not my point.
My point is anyone can put out information geared towards seniors. Be careful out there, I'd recommend before following any of the estate planning advice, consult a Michigan estate planning lawyer. Not just any lawyer that dabbles in Michigan estate planning, but one who's main focus is on estate planning. Otherwise there can be hefty consequences following the bad advice which can be difficult to correct without court involvement.
I am now going to call the Michigan State Representative and ask him to refrain from the erroneous and outdated marketing to seniors.
-Christopher J. Berry, Esq.
Michigan Estate Planning Lawyer
