<div dir="ltr">I'm sure you asked the questions about your client's assets. Sometimes elderly people can thinks of themselves as poor when they are not. Once a client in her late 80's came to be worried about how she would pay nursing home bills for her husband's care. Upon inquiry I learned, a) they had long term care insurance that would pay over half the cost of the nursing home, b) their annual income was on the order of $150,000 per year, and c) they had about half a million in assets in addition to their paid for home.. Anyway, she was able to manage the payments.<div><br></div><div>Marvin Benson</div></div><div class="gmail_extra"><br><div class="gmail_quote">On Mon, Aug 20, 2018 at 11:21 AM, Heather deVrieze <span dir="ltr"><<a href="mailto:heatherd@westseattlelaw.com" target="_blank">heatherd@westseattlelaw.com</a>></span> wrote:<br><blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex">
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<p class="MsoNormal">I’m afraid there are limited options available to single individuals in their 80s to preserve assets if long term care becomes a reality. Even if he hadn’t sold, and the “farm” could have been considered his home and therefor an exempt
asset, there would have been a lien if he received Medicaid benefits.<u></u><u></u></p>
<p class="MsoNormal"><u></u> <u></u></p>
<p class="MsoNormal">It is quite straightforward for his estate to collect on the real estate contract if client dies, a Personal Representative can assign the seller’s interest in the contract to the heirs.<u></u><u></u></p>
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<p class="MsoNormal">It is also possible that if long term care is needed, the children could buy dad’s interest the contract, shop it around, and have the kids pay fair market value, which may be significantly less then the total of the remaining payments.
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<p class="MsoNormal"><u></u> <u></u></p>
<p class="MsoNormal">Heather<u></u><u></u></p>
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<p class="MsoNormal"><span style="font-size:16.0pt;font-family:"Vladimir Script";color:#1f497d">Heather S. de Vrieze</span><b><span style="font-size:16.0pt;color:#1f497d"><br>
</span></b><i><span style="font-family:"Garamond",serif;color:#1f497d">Attorney-at-Law<u></u><u></u></span></i></p>
<p class="MsoNormal"><i><span style="font-family:"Garamond",serif;color:#1f497d"><img width="189" height="105" style="width:1.9701in;height:1.097in" id="m_4597944087690275057_x0000_i1026" src="cid:image003.jpg@01D43877.E4D78420" alt="cid:image001.jpg@01D013C2.30F35160"></span></i><i><span style="font-size:12.0pt;font-family:"Garamond",serif;color:#1f497d"><u></u><u></u></span></i></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:Nyala;color:#44524e">3909 California Avenue SW<u></u><u></u></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:Nyala;color:#44524e">Seattle, WA 98116-3705 <wbr>
<u></u><u></u></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:Nyala;color:#44524e">(206)938-5500
<u></u><u></u></span></p>
<p class="MsoNormal"><a href="mailto:heatherd@westseattlelaw.com" target="_blank"><span style="font-size:10.0pt;font-family:Nyala;color:#44524e">heatherd@westseattlelaw.com</span></a><span style="font-size:10.0pt;font-family:Nyala;color:#44524e">
<u></u><u></u></span></p>
<p class="MsoNormal"><a href="http://www.westseattlelaw.com/" target="_blank"><span style="font-size:10.0pt;font-family:Nyala;color:#44524e">www.westseattlelaw.com</span></a><span style="font-size:10.0pt;font-family:Nyala;color:#44524e">
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:Nyala;color:#44524e"><u></u> <u></u></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:Nyala;color:#c00000">For your advanced planning, please note – Heather will have an extended time out of the office at the end of the summer. Leaving August 28<sup>th</sup> and returning September
17<sup>th</sup>. Please plan accordingly.<u></u><u></u></span></p>
<p class="MsoNormal"><b><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:#002e8a">Click here to connect with de Vrieze | Carney on Facebook:
</span></b><b><span style="color:#1f497d"> </span></b><a href="https://www.facebook.com/DeVriezeCarney" target="_blank"><b><span style="text-decoration:none"><img border="0" width="72" height="21" style="width:.7462in;height:.2238in" id="m_4597944087690275057Picture_x0020_1" src="cid:image004.png@01D43877.E4D78420" alt="FB Logo"></span></b></a><span style="font-family:Nyala;color:#44524e"><u></u><u></u></span></p>
<p class="MsoNormal"><span style="font-size:8.0pt;color:#a6a6a6"><u></u> <u></u></span></p>
<p class="MsoNormal"><span style="font-size:8.0pt;color:#a6a6a6">CONFIDENTIAL & PRIVILEGED. This e-mail message may contain legally privileged and/or confidential information. If you have received this e-mail in error, please notify the sender immediately
and delete all copies of this e-mail message and any attachment.</span><span style="font-size:16.0pt;font-family:"Cambria",serif;color:blue"><u></u><u></u></span></p>
<p class="MsoNormal"><u></u> <u></u></p>
<p class="MsoNormal"><b>From:</b> <a href="mailto:wsbapt-bounces@lists.wsbarppt.com" target="_blank">wsbapt-bounces@lists.wsbarppt.<wbr>com</a> <<a href="mailto:wsbapt-bounces@lists.wsbarppt.com" target="_blank">wsbapt-bounces@lists.<wbr>wsbarppt.com</a>>
<b>On Behalf Of </b>Jenna Brozik<br>
<b>Sent:</b> Monday, August 20, 2018 10:43 AM<br>
<b>To:</b> WSBA Probate & Trust Listserv <<a href="mailto:wsbapt@lists.wsbarppt.com" target="_blank">wsbapt@lists.wsbarppt.com</a>><br>
<b>Subject:</b> [WSBAPT] father trying to preserve inheritance for children<u></u><u></u></p>
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<p class="MsoNormal">Hello list mates, <u></u><u></u></p>
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<p class="MsoNormal">I drafted a will for my client in 2015. He has a farm and left the farm to his two children in equal shares in the will.<u></u><u></u></p>
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<p class="MsoNormal"><u></u> <u></u></p>
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<p class="MsoNormal">Since then he has sold his farm and has a owner held contract for 20 years. He gets payment for the farm once a year until the farm is paid off.<u></u><u></u></p>
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<p class="MsoNormal">My client is worried that he won't be around to collect all the payments. He is in his eighties. He is also afraid that when he goes into a nursing home, the nursing home will consider it income and it will ruin his chances of Medicaid.<u></u><u></u></p>
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<p class="MsoNormal"><u></u> <u></u></p>
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<p class="MsoNormal">Does anyone have any suggestions so that he can preserve the farm so that his children inherit it?<u></u><u></u></p>
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<p class="MsoNormal"><u></u> <u></u></p>
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<p class="MsoNormal">Thanks in advance, <u></u><u></u></p>
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<p class="MsoNormal"><br clear="all">
<u></u><u></u></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif">Jenna Brozik</span><u></u><u></u></p>
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<p class="MsoNormal"><span style="font-family:"Trebuchet MS",sans-serif">Attorney at Law</span><u></u><u></u></p>
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<p class="MsoNormal">Prinz & Brozik PLLC<u></u><u></u></p>
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<p class="MsoNormal">445 S Grand Ave<u></u><u></u></p>
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<p class="MsoNormal">Pullman, WA 99163<u></u><u></u></p>
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<p class="MsoNormal">(509)338-0908 / (509) 338-3527 (fax)<u></u><u></u></p>
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<p class="MsoNormal"><a href="mailto:jennaprinzlaw@gmail.com" target="_blank">jennaprinzlaw@gmail.com</a><u></u><u></u></p>
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<p class="MsoNormal"> <u></u><u></u></p>
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