Burton Law LLC

#IrrevocableTrust #IrrevocableMedicaidTrust #TrustPlanning #QASeries #MedicaidPlanning #WisconsinAttorney #WisconsinEstatePlanning

Attorney Thomas B. Burton discusses some of the pitfalls to transferring your home to your children during your lifetime. Attorney Burton also discusses why this Medicaid planning strategy often leads to unintended consequences. Transcript of Video: Why You Shouldn’t Deed Your Home to Your Children Today's question why shouldn't I gift my home to my children via deed and continue living in it for Medicaid planning purposes I run across this scenario many times while it looks

Attorney Thomas B. Burton discusses the 5 year Medicaid look back period for gifts and transfers made five years before an applicant applies for Medicaid and discusses what happens when a gift or transfer of assets is made within this 5 year period. Transcript of Video: What is the 5 Year Look Back Period for Medicaid Planning Today's question what is the five-year look-back rule for Medicaid planning if you've looked into doing Medicaid planning and perhaps seen in the liter

Below is a recent question I responded to regarding using life estates in Medicaid planning, and how the sale of the proceeds is divided when the person holding the life estate is still alive. Consumer Question: When a warranty deed indicates "this conveyance reserves a life state for the grantors" (parents)how does sale of property work? My parents 2006 estate planning included deeding their home to us 6 children via warranty deed with the idea that they would continue to li

Attorney Thomas B. Burton discusses how Irrevocable Trusts can be a useful tool used for certain assets as part of the Medicaid planning process. Transcript of Video: How Irrevocable Trusts are Used for Medicaid Planning Today's question how are irrevocable trusts used in Medicaid planning so for Medicaid planning you need to do the planning ahead of time before you plan to ever need to receive state medical assistance through the Medicaid program watch my previous video on h

Here is a recent consumer que