Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
He served at the Pentagon as an army jag. He
graduated from Notre Dame and has two law degrees from
Boston University and Georgetown University. He's been practicing law for
over thirty years. He's your family's personal attorney. It's time
for the David Carrier Show.
Speaker 2 (00:20):
Hello, and welcome to the David Carrier Show. I'm David Carrier,
your family's personal attorney. And you have found the place
where we talk about retirement law. Retirement law being you know,
all those things that have to do with you if
you are retired, wish you were retired, know somebody who's retired,
or have hopes someday of you yourself enjoying that listful
(00:43):
state that next to nirvana, that ineffable, the reward for
a life well lived right called retirement right. Well, and
you need money to do that, and you need a
whole bunch of other stuff too, But but that's what
you've been working on even cranking that out. And so
(01:03):
if if you're wondering about a state planning, which is
will's trust and probate, is that comes at the end
of retirement done that you know, but also also that
part of a part of estate planning. That has to
do with you while you are retired, right, how do
we make sure that you don't go broke? Kind of
make sure that your loved ones are aoka namely primarily
(01:25):
I guess your spouse, if there's still they're still hanging
in there with you. We also do real estate and
business law, so it's easy to get hold of me.
Six one six seven seven four twenty four twenty four.
That's six one six seven seven four twenty four twenty four.
It is Memorial Day, so many things, so many things.
(01:45):
Is the Memorial Day show? So you know, I think
people mix up sometimes they mix up Memorial Day and
Veterans Day. So Veterans Day, okay, Veterans Day. I like
Veterans Day because I I'm a veteran. Also, all my
family were vets. Well, I guess the other way to
(02:07):
put that, the best way to put that is, we've
we've had a family member in every shooting war since
since World War One. So my Danish grandfather, you know,
took the boat over and joined the Marine Corps and
they sent him right back back to mary old Europe
(02:28):
where he did that for a while, and he was
a back in during the wartime, they would make you
a corporal or they promote people they called brevet rank
and the commission ranks. I don't know what they call
it enlisted, but he was, let's just call it the
same thing. So he was a brevet corporal, which means that.
And I've got the papers. It's it's really I just
(02:48):
think it's just fascinating. Anyway, he was brevetted for the
duration of the war as a corporal and then promoted
to sergeant and again for the duration of the war.
And I had I had looked for his records, you know,
And because my grandmother, you know, me Irish grandmother, who
met him at a Red Cross dance. As a matter
(03:10):
of fact, that was put on by her sister, who
was a who was a Red Cross nurse. And we've
got the letters from we got the letters from my
grandfather to the nurse who ran the show about that,
Mary Rose O'Connor. Okay, And uh so my my great
aunt hooked up my grandmother with my grandfather had a
(03:32):
Red Cross dance. There you go. And so anyway, growing
up singing the Marine hymn, that was a that was
a big deal. Nana lived with us, my grandfather had
since passed. And so growing up Nana, like I said,
my Irish grandmother lived with us, and uh so I
learned all about that, but I couldn't find any records
(03:53):
for him. Okay. And then finally I get the green
box with the records in it, and I'm you know,
I'm looking through his discharge page papers and they spelled
his name wrong. They spelled it with the English spelling
s O n. It's the s n uh and her
son instead of Andersen. So that's part of it. And
then it has place date of birth. You know, place
(04:17):
of birth was a des Moines, Iowa. And there's a
he's got this, you know in the old You know,
they're going to look back at some time at our
cursive and they're going to say what I'm saying about his,
which was this old time he script?
Speaker 1 (04:29):
Right.
Speaker 2 (04:30):
Well, of course they don't teach kids script cursive anymore.
So there's going to come a time when deciphering your
handwriting letters that you wrote to your family members, birthday cards,
what have you, we'll be like, oh, look at that
weird old old anyway, same thing, I'm reading his script
and uh and in it he's writing a note that
(04:50):
that he's tried to He's tried to correct the records
half a dozen times already. The Marine Corps still says
he was born in des Moines, and he was actually
born in Copah, Denmark. So there you go a little
bit of family history. The point is that World War One,
World War two, Korea, Vietnam, my own son in Afghanistan.
(05:11):
You know, we've had we've had family members in all
of those, all of those wars. But that's not what
Memorial Days about. Memorial Day is those who are, as
Abraham Lincoln would say, gave the last full measure of
devotion to their country. They died that the country might live.
That kind of thing. That's who this is for. This
(05:34):
is for the people who died in service, okay, and
that's what Memorial Days is about. We want to remember
those people. Veterans Days great, we love Veterans Day, but
Memorial Day has that special additional connotation. You know, it's
the sort of thing pretty tough, I think for a
lot of people these days. Not so much for you guys,
(05:56):
because you get it, but for these people about what
could be more precious to them than their own existence?
Right Whereas back in the day, right, you know, and
still and still people who go to war know that
that's a that's a potential outcome, that's a you know,
that's a real possibility. But we don't have any no
(06:19):
gold star families, no gold stars in our family. A
lot of white stars, you know, a lot of people serving,
but not no one who actually did that. So this
is Memorial Day. It's more than the unofficial start of summer.
It's it's really kind of, really kind of important. And
so you know, as you go to church today, or
you say your prayers, or if you're you know, if
(06:42):
you just want to admire the beauty of the day,
remember the people who made it possible for you by
giving that last full measure of devotion. Right. It's if
people weren't willing to do that, if they weren't people
willing to stay in guard, we wouldn't have we would
not have what we have today. So let's be let's
be grateful for that. Let's have a little appreciation in
(07:05):
our hearts for those for those folks. Okay, but as
I say, you won't be thinking of my family because
we all made it back. And you know, and for me,
you know this this is the weird thing because I
have talked with, you know, with the guys who were
who were there, like my son who gets to wear
a patch on his right shoulder of the unit that
(07:27):
he was in combat with. And uh, you know, I
was active duty in the eighties. Well that was post
Vietnam and pre War on Terror, and you know, it
is kind of a it is kind of a weird thing,
you know. You know, look, I did the airborne thing.
(07:47):
I did what I I do feel you know, you
say you feel guilty about it. I do kind of
I do kind of you know, feel kind of weird
about you know. Yeah, I know I did what I did,
and I made myself a bill, put myself on the
firing line. It's like I made myself available. But you know,
(08:09):
still you wonder, you know, what if you wonder what
if if you know that you had you yourself have
been there and I wasn't tested that way, And it's
a it is kind of an interesting an interesting thing.
I mean, thank God that we all made it back alive.
And and of course I wasn't. I didn't even go.
(08:29):
I mean, there there you are. I mean it did
my active duty time in Washington, d C. You know,
all of it was in the national capital, in the
national capital region. So but but at least I got
people in my family who did and uh and and
thank goodness to say they all made it back. But this,
as I say, Memorial Day, as you're eating your hot
(08:50):
dogs or you know, taking in the sales, just remember
that's what that's what this is all about. This is
about those people who did not come back, and that's
you know, time to remember them with reverence and gratitude
for what we have. That's just but that's what this
is about. And thankfully on a Memorial Day, we actually
(09:11):
answer your questions if you give us a call at
sixty one six seven seven four twenty four twenty four.
That's sixty one six seven seven four twenty four to
twenty four, and we'll get your question, comment or concern
on the air. Of course, this is a live show,
that's uh. And I'm not even at last week. Of course,
(09:32):
I was traveling. I was giving you the you're getting
the show a from a what do you call a
rest area in near Pittsburgh. But today we're back in
the first part of the show was recorded because I'm
having trouble getting set up but today look at the
(09:53):
no technical difficulties. John's doing his usual fantastic job. So
give his life a little excitement. Why don't you give
us a call six one six seven seven four twenty
four to twenty four. He gets to answer the gets
to answer the phone there, and you know, give him
a give him a little thrill, a little excitement after
doing such a great job making sure we don't have
echoes or any other technical difficulties. You're listening to the
(10:15):
David Carrier Show. I'm David Carrier, your family's personal attorney.
Speaker 1 (10:21):
This hour of the David Carrier Show is pro bono,
so call in now at seven seven four twenty four
twenty four. This is the David Carrier Show.
Speaker 2 (10:30):
Well, welcome back to the David Carrier Show. I'm David Carrier,
your family's personal attorney. Now's the time give us a call.
Sixty one six seven seven four twenty four twenty four.
That's six one, six seven seven four twenty four twenty four.
And in case you were wondering, I'm all in favor
of online will programs. That's kind of a full employment
(10:52):
act for attorneys doing probate. Yay, go for it. Let's
get a let's get online. Will things will be so
screwed up that you'll be employing us forever? Anyway? Six one,
six seven seven four twenty four, twenty four. That's the
number to call, and we've got Scott on the line. Hello, Scott,
Welcome to the David Carrier Show.
Speaker 3 (11:12):
Good morning, mister Carrier. And I'm glad we can celebrate
Veterans Day with you and not Memorial Day.
Speaker 2 (11:19):
Please, oh thank you. I'm sure that's a majority of
opinion most of the time, but but I appreciate the.
Speaker 3 (11:29):
Good stuff I have. I have two questions that related.
The quick background is, is my in laws we put
him into a community, sorry, a senior living facility. We
just put their house under contract. So let me ask
the first. I think the easier one, maybe, and that
is just a general opinion or question. You know, they
(11:49):
own the house out right, free and clear. They're going
to take and you know, you know, use the marriage
capital gains exemption, you know, but they'll probably have four undred,
five hundred thousand dollars from the sale. What from an
estate planning standpoint, is there anything This is not an
investment question, it's a state planning question. Yeah, I think
(12:10):
in particular, we should use or put that money, or
plan that money, or how to move forward with that
from an estate.
Speaker 2 (12:18):
Standpoint, And yeah, yeah, so that's not untypical. Right. One
of the one of the things that I always look
at this stuff from the from the what if I
need long term care lens? Right, what if I need
to take advantage of not just Social Security and Medicare,
(12:39):
what if I also need long term care which is
not covered by either of those programs, So that that's
the Medicaid program. And now I got to jump through
a whole different set of hoops to qualify for it.
So when whenever I'm looking at these things, you're right.
I mean, I'm not an investment advisor. I don't know
to put it in mohair, fewatures or oil, I don't know.
(13:03):
But the idea is how do I hang on to
the money. So what we will do frequently in a
case like this, because the in laws can purchase for
medicaid purposes, can purchase a replacement homestead, right, what we'll
do because see, once we've got the cash, okay, now
(13:24):
it's cash, and as long as they're married, well that's
that's fine, and they're going to be paying for the
for the assisted living. What are they in one of
those continuity care places? Is that the idea? Yeah, basically yeah, yeah,
so well, I mean they wanted it, and okay, you know,
pay for it if you want to. But if they
(13:45):
get to a assisted living or a skilled nursing situation,
there are things that can be done now, and not
that aggressively. You can get very aggressive about it if
you want to. I mean there's ways to addbsolutely protected
right now for periods of time, but just getting your
(14:06):
estate plan done correctly. So see, one of the things
you can do is if one spouse dies, you can
protect all the assets for the other spouse. You can
set it up that way. And so in a case
like this, that's what I'd be saying. If I've got
a situation, on the other hand, where we've already got
a diagnosis of the Alzheimer's or Parkinson's or something like that,
(14:29):
Louis body dementia, whatever it may be, vascular demension, whatever
it may be, then we're going to be more aggressive
about it because then you're looking forward in a relatively
short period of time to needing skilled nursing, and then
the Medicaid in order to avoid going broke. One of
the more difficult situations that and we've had half a
(14:54):
dozen of them, is we'll have a couple that goes
to long term care facility and they do the deposit
and all the rest of this stuff with the proceeds
from the sale of the house. The problem is when
and then once they're there in short order, sometimes a
matter of weeks, sometimes a couple of months, whatever, then
(15:17):
one of them needs the skilled nursing and so they
move to skilled nursing. Well that's a multiples you know,
three four times as much as the typical assisted living.
And now those resources that you expected to last for
quite a while are drained rapidly. And then you know, oh, well,
we have a benevolent fund for that. You know, if
(15:37):
you if you if you go broke, if something like
that happens. But the problem is you would like you
would like to hold on to as much as you
can in order to provide the added you know, quality
of life type stuff that you get when you pay
for stuff on your own. Well, you won't qualify for
(15:58):
the Medicaid be cause cause the money that you get
back from buying into the continuity care program is treated
as a deposit, So there are things that need to
be that can be done to alleviate that. And you
just need to be thinking, what if we go to
(16:19):
this place my spouse needs the long term care? Yeah,
they said the Benevolent Funnel take care of us. But
in order to qualify, see this is the thing and
read the contract. In order to qualify for the Benevolent Fund,
you have to qualify for Medicaid. Well, what good is
the Benevolent Fund if I have to qualify for Medicaid? Well,
there were gin be some benefits. I'm not saying it's
(16:41):
it's completely illusory. There are some benefits to it. But
in a situation like this, we'd be taking a hard
look at what exactly the resources are, how much does
it cost, what's the health look like? Those are the
factors that go into thinking, am I going to be
(17:02):
all hands on deck? Three alarm? You know, five alarm
fire here? Or is it? Okay? Everybody's pretty happy and
healthy and this is a lifestyle choice. Okay, fine, but
what if one of them dies? I would want the
other one to have all the assets protected. So there
are some things that would be done in every case
that are frankly, very different than what usually happens. But
(17:26):
we'll provide you with a lot more options. Right if
when the feared things, you know, if when we actually
need the long term care, well, if we've got it
all set up correctly, one dies, all the assets are protected,
one needs long term care, the other one's staying in
(17:47):
assisted living. I would like to have a few extra dollars,
but I've got the problem with the deposit that the
medical the deposit that I had to pay, that that
has counted as money in the bank, which will almost
always disqualify people from receiving any benefits with any kind
of cushion. So it's just I don't mean to be
(18:10):
too obstruse about it or too dense about it, but
there really are things that need to be done right
when the time comes as a planning matter, right now.
So and that's what we do with our folks, you know,
whenever they're doing one of these continuity of care. And look,
I'm not I'm not opposed to people doing continuity care
(18:33):
because it's a community. They like the community, they like
the services that are available. But like anything else, it's
you need to have your eyes open. You need to
know what that contract says. You need to you know,
it's not just you know, what do you want to say,
(18:53):
whipped cream and cotton candy. I mean, it's you really
got to look at that contract because you're betting your life,
your equality of life, that this is going to happen.
And like anything else, like anything else, there are things
that you can do to make it better, things that
you can do to anticipate things you don't expect. So
(19:16):
that's what I would say. You know, when we're looking
at a continuitya care thing, we're about to go to break.
So Scott, if you'd like to hang on, I'll get
whatever other question you have. Would that be okay?
Speaker 3 (19:29):
Sure?
Speaker 2 (19:29):
Okay. You've been listening to the David Carrier Show. I'm
David Carrier, your famili's personal attorney.
Speaker 1 (19:38):
David's got the how too you're looking for Just call
seven seven twenty four twenty four. This is the David
Carrier Show.
Speaker 2 (19:47):
Welcome back to the David Carrier Show. I'm David Carrier,
your family's personal attorney. Now is the time to give
us a call. Six one six seven seven four twenty
four twenty four. That's six one six seven seven four
twenty four twenty four. As some of you know, I
was in Pennsylvania, in Pittsburgh last weekend. Big news on
(20:09):
that front, which we will which we will get to.
Very exciting stuff, very exciting stuff going on, very exciting
to me anyway. It probably you bore you to tears.
But ain't that the way we're talking with Scott this morning?
You can too six one or the you know, you
can talk to me anyway, six one, six seven seven
(20:29):
four twenty four, twenty four. Scott's in laws are joining
one of those continuity of care places where you kind
of started it, you started independent living, you could and
you could possibly progress. Maybe you stay in and assist
of living and independent living that'd be great, but you
could progress through assisted living all the way to skill nursing,
(20:50):
all under one roof. There are some very different rules
that apply to these places. The contract that they have
you sign is dozens of pages long, typically, and there's
stuff in there that you might be surprised to learn.
And so when you're considering one of these places, which
I'm all in favor of, the why not. I mean,
(21:10):
if that's the lifestyle that you choose, choose that lifestyle,
that's fine. But there are some things that well, let
me put it this way. If you are writing a contract, right,
you are writing a contract, a deal, you're making a deal,
and you get to set all the terms and conditions
(21:33):
of the deal. Now, you're a nice person, you're a
good person, okay, and you're not out to be horrible
to somebody else. You're out to do good things for
other people and all the rest of it. And yet
you're the one writing the contract. Does that contract look
the same if you're writing it versus if someone else
(21:53):
is writing it, the guy on the person on the
other side, I mean, or are you going to deal
a few ass to yourself? So when you're asked to
sign a contract, and this is any contract, when anybody
wants you to sign a contract, it's important. It's important
to read the contract because chances are and I I confess, admit, boast, brag,
(22:18):
whatever you want to say, whenever I write a contract
for a client, Okay, there's easter eggs in there, there's
stuff in there that you might not expect. And my
theory is that when I'm working for one of my clients,
I'm going to put a bunch of stuff in there. Okay,
that may not be particularly obvious. Yes, horrible and sneaky
(22:39):
or whatever. We don't lie about it. It's out there.
You could read it right. But there's stuff that you
put in a contract in case the other side decides
to be a jerk, because you don't want to be
at the mercy of a jerk. But you're not a jerk,
so you're not going to be bad. You're not going
to use the terms in the contract against the other person.
You just want to make sure that everything goes along.
(23:02):
Similarly with a long term care facility or a continuity
care facility, there's stuff in the contract. Okay that HM
is you wouldn't let me put it that put it
this way, you wouldn't have put in there. There's stuff
in that contract that you would not have put into
that contract. If you were right in the contract, you
(23:23):
got it. So that's why when you're doing one of
these things, you really need to be aware of what's
in there. There will be some surprises as you go
through it. Would I would suggest also when you're doing
this kind of thing, when you are doing I think
you should do it anyway, but when you're taking that step,
(23:43):
this is a good time as Scott was saying, you know,
that was why he's calling. Right, it's a good time
to kind of review your estate planning because there are
things that you should be reacting to in your estate
planning when you're taking that step. Okay, and then we've
got another question, is that right, Scott?
Speaker 3 (24:04):
I do? I do? Of course you some of your
comments made me think of other questions. I'm gonna just
I'm gonna stick with my second question. Relate. It relates
to the closing on the house, which probably end of
next month. My mother in law, who is the actual
she's the one that's kind of cognitively impaired. We have
(24:26):
a power of attorney. My father in law has a
power of attorney that he could use to sign over
the deed at closing. Oh, you know, because they're both there,
they're joint on the on the title of the property.
Speaker 2 (24:39):
Right but mother married couples. So hey, I'm gonna be
I'm gonna be persnickety here. So if you have a
married couple there, you could say joint, but really their
tenants by the entirety, which is a thing for married couples.
Just to be a jerk about it.
Speaker 3 (24:54):
No, I like to like I like to split hairs myself,
so I'm with you, and this is and kind of
split hairs. He uses the power of attorney to sign
on her behalf. Then of course they record the power
of attorney with the new deed. That's the requirement we're at.
(25:15):
They're kind of private people and they would prefer I
don't think it's a big deal, but they would prefer
not to have their power of attorney recorded publicly.
Speaker 2 (25:26):
I'm sorry, I say that again, sad they have to.
Speaker 3 (25:31):
I know, I know, But then then I go back
to this is. This is the other side of the coin.
My mother in law she can still sign documents, it
just takes a little while. But she also has those
moments where sometimes she's now very lucid, sometimes she is
And so if we were to do closing in her
sign the deed herself. But now the question is if
(25:57):
anybody wanting to challenge it could be getting trouble for
having her sign when you know she may not necessarily
understand at that moment what she's signing.
Speaker 2 (26:08):
Well, if she doesn't understand in the moment that she's signing,
she can't sign, and the notary in all likelihood is
not going to allow her, allow her to sign. If
they're doing their job, it does happen. We just have
one of these where where we did a whole you know,
estate plan, and then we get send a letter that says, oh,
(26:31):
dated after the signing that you know, this person's cognitively
a paired signed by a couple of doctors. Well, what
do you do then? I mean, we have very experienced people.
We've been doing the thousands of these and rejected. You know,
we've rejected probably hundreds now of people who were not
competent to sign documents. But you lead them through, if
(26:53):
they're responding appropriately and all the rest, and then you
get a doctor's thing that says, no, you're not competent.
What do you do then? And that's a that's a
real issue where they competent at the moment they signed,
and then short term memory loss they don't remember, and
that yeah, that's a real and sometimes people present with
a very competent affect, but they're not really behind the scenes,
(27:16):
they're not really they're not really competent. So I would say,
go ahead and record the record the uh, the power
of attorney have have them signed, because there's no question
she was competent at the time. She signed the power
of attorney, right, so I might as well sign it.
That's what I was saying.
Speaker 3 (27:35):
Okay, you know.
Speaker 2 (27:38):
Here, here's the other thing. With a trust, you don't
record the whole trust. You only record the certificate of trust.
And with the power of attorney you see who the
successors are. With a new certificate of trust, you don't
say who the successor of trust these are. You used
to have to put who the successors were and their addresses,
their home addresses. Well, now you don't do it any
(28:00):
of that. So again, with a trust, that's an advantage
of the trust. If you do a trust, then you're
not revealing anywhere near as much information publicly as you
would with a with the power of attorney.
Speaker 3 (28:13):
So right, And that's actually I was I was wondering
if they had anything like a certificate of power of attorney.
Speaker 2 (28:20):
No, no, right, now you've got to you got to
record this. They have the whole power of attorney. That's
the way that works.
Speaker 3 (28:27):
And then the question about recording, now, question would you
just recorded with eight or would you separately record it
so it's a standalone document in the record.
Speaker 2 (28:40):
That, yeah, you kind of have to record them together, okay,
you know, and and then you'll be able to find it.
You'll be able to They'll they'll record them one right
after the other, you know, because what you're saying there
is along with the power you know, pursuing to the
power of attorney recorded at libor page or recorded in
(29:00):
Ken County records, you know whatever usually so so they
will be it'll be searchable if that's the if that's
the question, they will be able to found the power
of attorney.
Speaker 3 (29:14):
So that I know. And talking to the clothing company,
they were like, you know, you could record a separately
so it has its own libr page, or we could
just attach it to the title itself so the title
becomes you know, ten pages rather than two.
Speaker 2 (29:27):
Yeah. My experience is that it's it's separate.
Speaker 3 (29:31):
So okay, okay, okay, thank you.
Speaker 2 (29:33):
Thank you, Thank you, Scott. Have a great Memorial Day weekend.
E've been listening to the David Carrier Show. I'm David Carrier,
your family's personal attorney.
Speaker 1 (29:43):
David's perkin and working and taking your calls. Now this
is the David Carrier Show.
Speaker 2 (29:50):
Welcome back to the David Carrier Show. I'm David Carrier,
your family's personal attorney. You know, you can always go
to over to the website Davidcarrier Law dot com and
at Davidcarrier laud dot com. We've got a new well,
I don't know, we've had it for a while now,
so it's a little kind of new. I mean, nobody
else has one. And what it is. It's an AI
(30:12):
artificial intelligence right, I'd like to say authentic inspiration and
authentically inspiraed inspirated inspired, uh thingy on there where if
you go, I don't know what you call, go to
the website anyway, and this thing will pop up and
you can click on the microphone and you can actually
(30:32):
ask it questions. We've got a few standard questions. You
can just click on those if you'd like. But if
you talk to the thing, if you've got a microphone
and all the rest anyway, it will it will take
your take your prompt. It's a it's an AI thing
is artificial intelligence thing. And the idea is that it
reads our website. So it's got a lot of my
(30:54):
stuff on it, right, So if you want to know
what I would say about something, it's not one hundred
percent or anything. It's it's artificial intelligence whatever, and it's
based on things I've written, things I've said, Yeah, so
it's really bad anyway. The idea is that you kind
of get our perspective, my perspective on things, so it's
(31:16):
not you know a lot of places have these things
called chatbots, and the whole purpose of the chatbot is
to set an appointment. We would like to set an appointment,
no kidding, but you get a lot more information with
this one. I mean, I've looked at the other ones
and we never did. We never did put one of
those on there because I thought it was just, I
(31:36):
don't know, kind of too annoying because the promise is, oh,
put your question here and we'll get you an answer,
and it's like, put your question here and we'll get
you an appointment. You know, someone will call you back,
and it's like, well, I would like to kind of
know what's going on right now. And that's the purpose
of the We call it a CFD, a client facing
(31:58):
device whatever, that's what the AI guys call it. But
the purpose is that you can go to the website,
you can ask a radio show type question. You know,
you don't want to go on the air, well, that's fine.
You can go there and you can ask your question,
and I think you'll be surprised. I certainly was at
the detail and the specificity of the response. Now, it's
(32:22):
not legal advice, Okay, it's not, but lots of times
we're not looking for well, like our last caller, Okay,
specific issue. And I can't tell you exactly what should
happen because there's too many factors in order to get
a real answer as opposed to way lounging on the
(32:42):
couch answer. You know, there are things you need to
know in order to get that done. Well, the AI
can at least, at the very least alert you to
the idea that, hey, there's stuff going on here, right,
it's not as simple as you might think, And here
are some other things to think, here's some information, there's
(33:03):
some other things to think about. It's not, as I say,
it's like the show, it's not legal advice, but but
it's pretty helpful. That's pretty helpful even without being legal advice.
So that's the Uh, that's one thing. And like I said,
we've had that around now for a month or two
and the feedback so far has been very has been
(33:25):
very positive. We're really encouraged by that. Here's the other thing.
We've gotten criticism over the years for not doing customary stuff.
All right, Oh it's not customary. You're not doing it
like other people are doing it. And frankly, we've kind
of let our freak flag fly, freak flag fly. Anyway.
(33:48):
I kind of said, look, we are doing things differently,
like really differently. We're not so concerned when we do
the planning. We're not so concerned. We'll put it this way.
Are our first priority is not when you die. Our
first priority is while you're alive. Okay, because we all
like to deny it, but you can't that. Long term
(34:10):
care is a reality, and the older you get, the
more likelihood that you will need it. Okay. It's not
customary to follow through when you do in a state plan.
What's customary is to give you a book with a
letter in it that says, hey, don't you forget to
follow through, which, of course you do forget to follow through,
and then damn thing doesn't work when you need it. Okay.
So that's number one. Number two, non customary. We're all
(34:33):
about the asset protection. We're all about long term care protection.
What we're trying to do is make sure that you
don't go broke in long term care, that you have
the full range of options to protect yourself, protect your family. Again,
not customary, not the way it's usually done, but I
think it's an important good and you know good and
the wholesome way of doing the planning. The third thing
(34:57):
that we do is and nobody gets this, I keep
doing these trust you know, part of our follow up
with our clients, and we do free trust reviews, so
the ideas we'll have a class and people come in
and you know, review what it was we did. Everybody
misses this. Now there's no consequence to it because you
can always get out of it. But the point is
(35:19):
that when we leave stuff to kids, we protect it
for the kids. All right. Everybody overlooks that. They just
want to deliver the money to the kids as soon
as possible before they reach room temperature. You know, get
the money to the kids, like that's a good thing.
And it's not about the kids. It's about the situations
the kids may find themselves in. You know, there was
(35:41):
a while where we thought the government was going to
you know, just write off trillion over a trillion dollars
of student debt. Well, it's not doing that anymore. What
does that mean? That means that the inheritance might very
well be going to somebody. Money that you leave behind
might very well be going to somebody who's got their
student loan thatt themselves or has guaranteed student loan debt.
(36:03):
Either way, government's coming after the inheritance. Are you with
me in this?
Speaker 1 (36:08):
So?
Speaker 2 (36:08):
But I can protect it, and we've done that for
thirty five years. We've always protected that for the beneficiaries.
Nobody else does that. They tell you, oh, do beneficiary designations.
I haven't seen one of them yet that does. Sometimes
they'll say, oh, pay it to them free from trust
when they're twenty five or thirty or forty or something
like this, as if you have a crystal ball. Oh yeah,
(36:30):
when I'm forty, there's no way I be in debt
when I'm forty. There's no way I be getting a divorce.
When I'm forty, there's no way COVID shows up and
my business goes back, business goes bust. So yeah, when
I'm forty, it'll be good. It's insanity in my opinion,
but it is customary, very customary to do with that
the Lady Bird deeds. They're just blind, blunt force. Here
(36:53):
it is without regard to the consequences. I think it's terrible.
I've always thought it was terrible. That's why I've always
done it differently. So but but and then ira is
number four is iras. IRA's are really special, really different.
They need to be dealt with specifically differently, okay, And
people don't do that customarily. So you say, well, yeah,
(37:17):
you're you know, go ahead, scream at the clouds, old man,
you know, shake your cane at them. Good luck for you.
We think things should be done customarily. And what's your
evidence that you're doing it the right way? Well, tens
of thousands of happy clients would be some evidence of
what seems like to me over the over the years.
That would be some evidence that we're doing it correctly.
(37:38):
But here's the next thing. So I'm not as much
a hermit as you might think. I actually have some
friends in Miami and Pittsburgh. And what we've done is
we've created UH and 're in the process of creating
a national partnership. We're working on this for several years now,
three years. How to do this stuff? How to do
(38:02):
it correctly, how to lower the cost of doing it.
And this is when I'm so really kind of geeked about.
We've got now twenty law firms from New York to California,
Minnesota down to Florida who are now joining with us
to present this view, this non customary view of how
(38:26):
to do planning. And it's not just the state planning.
A state planning is death planning. The idea is, how
do we make sure that your assets, that your work,
your life's work, doesn't get blown out the door as
soon as you need long term care? How do we
make sure that the programs that you've paid for, the
programs you've paid into, actually benefit you. And it's non
(38:50):
problematic when it comes to Social Security or Medicare, everybody
gets that. But when it comes to long term care,
Oh that's different. It's not different. We're building a national
network to recognize that it's not different. And like I say,
we've got our first twenty law firms online. So it's
very exciting, very exciting time, and I'm glad to be
(39:11):
making the journey with you. You've been listening to the
David Carrier Selle. I'm David Carrier. Your family's personal attorney,
He served at the Pentagon as an army jag. He
graduated from Notre Dame and has two law degrees from
Boston University and Georgetown University. He's been practicing law for
over thirty years. He's your family's personal attorney. It's time
for the David Carrier Show.
Speaker 2 (00:20):
Hello, and welcome to the David Carrier Show. I'm David Carrier,
your family's personal attorney. And you have found the place
where we talk about retirement law. Retirement law being you know,
all those things that have to do with you if
you are retired, wish you were retired, know somebody who's retired,
or have hopes someday of you yourself enjoying that listful
(00:43):
state that next to nirvana, that ineffable, the reward for
a life well lived right called retirement right. Well, and
you need money to do that, and you need a
whole bunch of other stuff too, But but that's what
you've been working on even cranking that out. And so
(01:03):
if if you're wondering about a state planning, which is
will's trust and probate, is that comes at the end
of retirement done that you know, but also also that
part of a part of estate planning. That has to
do with you while you are retired, right, how do
we make sure that you don't go broke? Kind of
make sure that your loved ones are aoka namely primarily
(01:25):
I guess your spouse, if there's still they're still hanging
in there with you. We also do real estate and
business law, so it's easy to get hold of me.
Six one six seven seven four twenty four twenty four.
That's six one six seven seven four twenty four twenty four.
It is Memorial Day, so many things, so many things.
(01:45):
Is the Memorial Day show? So you know, I think
people mix up sometimes they mix up Memorial Day and
Veterans Day. So Veterans Day, okay, Veterans Day. I like
Veterans Day because I I'm a veteran. Also, all my
family were vets. Well, I guess the other way to
(02:07):
put that, the best way to put that is, we've
we've had a family member in every shooting war since
since World War One. So my Danish grandfather, you know,
took the boat over and joined the Marine Corps and
they sent him right back back to mary old Europe
(02:28):
where he did that for a while, and he was
a back in during the wartime, they would make you
a corporal or they promote people they called brevet rank
and the commission ranks. I don't know what they call
it enlisted, but he was, let's just call it the
same thing. So he was a brevet corporal, which means that.
And I've got the papers. It's it's really I just
(02:48):
think it's just fascinating. Anyway, he was brevetted for the
duration of the war as a corporal and then promoted
to sergeant and again for the duration of the war.
And I had I had looked for his records, you know,
And because my grandmother, you know, me Irish grandmother, who
met him at a Red Cross dance. As a matter
(03:10):
of fact, that was put on by her sister, who
was a who was a Red Cross nurse. And we've
got the letters from we got the letters from my
grandfather to the nurse who ran the show about that,
Mary Rose O'Connor. Okay, And uh so my my great
aunt hooked up my grandmother with my grandfather had a
(03:32):
Red Cross dance. There you go. And so anyway, growing
up singing the Marine hymn, that was a that was
a big deal. Nana lived with us, my grandfather had
since passed. And so growing up Nana, like I said,
my Irish grandmother lived with us, and uh so I
learned all about that, but I couldn't find any records
(03:53):
for him. Okay. And then finally I get the green
box with the records in it, and I'm you know,
I'm looking through his discharge page papers and they spelled
his name wrong. They spelled it with the English spelling
s O n. It's the s n uh and her
son instead of Andersen. So that's part of it. And
then it has place date of birth. You know, place
(04:17):
of birth was a des Moines, Iowa. And there's a
he's got this, you know in the old You know,
they're going to look back at some time at our
cursive and they're going to say what I'm saying about his,
which was this old time he script?
Speaker 1 (04:29):
Right.
Speaker 2 (04:30):
Well, of course they don't teach kids script cursive anymore.
So there's going to come a time when deciphering your
handwriting letters that you wrote to your family members, birthday cards,
what have you, we'll be like, oh, look at that
weird old old anyway, same thing, I'm reading his script
and uh and in it he's writing a note that
(04:50):
that he's tried to He's tried to correct the records
half a dozen times already. The Marine Corps still says
he was born in des Moines, and he was actually
born in Copah, Denmark. So there you go a little
bit of family history. The point is that World War One,
World War two, Korea, Vietnam, my own son in Afghanistan.
(05:11):
You know, we've had we've had family members in all
of those, all of those wars. But that's not what
Memorial Days about. Memorial Day is those who are, as
Abraham Lincoln would say, gave the last full measure of
devotion to their country. They died that the country might live.
That kind of thing. That's who this is for. This
(05:34):
is for the people who died in service, okay, and
that's what Memorial Days is about. We want to remember
those people. Veterans Days great, we love Veterans Day, but
Memorial Day has that special additional connotation. You know, it's
the sort of thing pretty tough, I think for a
lot of people these days. Not so much for you guys,
(05:56):
because you get it, but for these people about what
could be more precious to them than their own existence?
Right Whereas back in the day, right, you know, and
still and still people who go to war know that
that's a that's a potential outcome, that's a you know,
that's a real possibility. But we don't have any no
(06:19):
gold star families, no gold stars in our family. A
lot of white stars, you know, a lot of people serving,
but not no one who actually did that. So this
is Memorial Day. It's more than the unofficial start of summer.
It's it's really kind of, really kind of important. And
so you know, as you go to church today, or
you say your prayers, or if you're you know, if
(06:42):
you just want to admire the beauty of the day,
remember the people who made it possible for you by
giving that last full measure of devotion. Right. It's if
people weren't willing to do that, if they weren't people
willing to stay in guard, we wouldn't have we would
not have what we have today. So let's be let's
be grateful for that. Let's have a little appreciation in
(07:05):
our hearts for those for those folks. Okay, but as
I say, you won't be thinking of my family because
we all made it back. And you know, and for me,
you know this this is the weird thing because I
have talked with, you know, with the guys who were
who were there, like my son who gets to wear
a patch on his right shoulder of the unit that
(07:27):
he was in combat with. And uh, you know, I
was active duty in the eighties. Well that was post
Vietnam and pre War on Terror, and you know, it
is kind of a it is kind of a weird thing,
you know. You know, look, I did the airborne thing.
(07:47):
I did what I I do feel you know, you
say you feel guilty about it. I do kind of
I do kind of you know, feel kind of weird
about you know. Yeah, I know I did what I did,
and I made myself a bill, put myself on the
firing line. It's like I made myself available. But you know,
(08:09):
still you wonder, you know, what if you wonder what
if if you know that you had you yourself have
been there and I wasn't tested that way, And it's
a it is kind of an interesting an interesting thing.
I mean, thank God that we all made it back alive.
And and of course I wasn't. I didn't even go.
(08:29):
I mean, there there you are. I mean it did
my active duty time in Washington, d C. You know,
all of it was in the national capital, in the
national capital region. So but but at least I got
people in my family who did and uh and and
thank goodness to say they all made it back. But this,
as I say, Memorial Day, as you're eating your hot
(08:50):
dogs or you know, taking in the sales, just remember
that's what that's what this is all about. This is
about those people who did not come back, and that's
you know, time to remember them with reverence and gratitude
for what we have. That's just but that's what this
is about. And thankfully on a Memorial Day, we actually
(09:11):
answer your questions if you give us a call at
sixty one six seven seven four twenty four twenty four.
That's sixty one six seven seven four twenty four to
twenty four, and we'll get your question, comment or concern
on the air. Of course, this is a live show,
that's uh. And I'm not even at last week. Of course,
(09:32):
I was traveling. I was giving you the you're getting
the show a from a what do you call a
rest area in near Pittsburgh. But today we're back in
the first part of the show was recorded because I'm
having trouble getting set up but today look at the
(09:53):
no technical difficulties. John's doing his usual fantastic job. So
give his life a little excitement. Why don't you give
us a call six one six seven seven four twenty
four to twenty four. He gets to answer the gets
to answer the phone there, and you know, give him
a give him a little thrill, a little excitement after
doing such a great job making sure we don't have
echoes or any other technical difficulties. You're listening to the
(10:15):
David Carrier Show. I'm David Carrier, your family's personal attorney.
Speaker 1 (10:21):
This hour of the David Carrier Show is pro bono,
so call in now at seven seven four twenty four
twenty four. This is the David Carrier Show.
Speaker 2 (10:30):
Well, welcome back to the David Carrier Show. I'm David Carrier,
your family's personal attorney. Now's the time give us a call.
Sixty one six seven seven four twenty four twenty four.
That's six one, six seven seven four twenty four twenty four.
And in case you were wondering, I'm all in favor
of online will programs. That's kind of a full employment
(10:52):
act for attorneys doing probate. Yay, go for it. Let's
get a let's get online. Will things will be so
screwed up that you'll be employing us forever? Anyway? Six one,
six seven seven four twenty four, twenty four. That's the
number to call, and we've got Scott on the line. Hello, Scott,
Welcome to the David Carrier Show.
Speaker 3 (11:12):
Good morning, mister Carrier. And I'm glad we can celebrate
Veterans Day with you and not Memorial Day.
Speaker 2 (11:19):
Please, oh thank you. I'm sure that's a majority of
opinion most of the time, but but I appreciate the.
Speaker 3 (11:29):
Good stuff I have. I have two questions that related.
The quick background is, is my in laws we put
him into a community, sorry, a senior living facility. We
just put their house under contract. So let me ask
the first. I think the easier one, maybe, and that
is just a general opinion or question. You know, they
(11:49):
own the house out right, free and clear. They're going
to take and you know, you know, use the marriage
capital gains exemption, you know, but they'll probably have four undred,
five hundred thousand dollars from the sale. What from an
estate planning standpoint, is there anything This is not an
investment question, it's a state planning question. Yeah, I think
(12:10):
in particular, we should use or put that money, or
plan that money, or how to move forward with that
from an estate.
Speaker 2 (12:18):
Standpoint, And yeah, yeah, so that's not untypical. Right. One
of the one of the things that I always look
at this stuff from the from the what if I
need long term care lens? Right, what if I need
to take advantage of not just Social Security and Medicare,
(12:39):
what if I also need long term care which is
not covered by either of those programs, So that that's
the Medicaid program. And now I got to jump through
a whole different set of hoops to qualify for it.
So when whenever I'm looking at these things, you're right.
I mean, I'm not an investment advisor. I don't know
to put it in mohair, fewatures or oil, I don't know.
(13:03):
But the idea is how do I hang on to
the money. So what we will do frequently in a
case like this, because the in laws can purchase for
medicaid purposes, can purchase a replacement homestead, right, what we'll
do because see, once we've got the cash, okay, now
(13:24):
it's cash, and as long as they're married, well that's
that's fine, and they're going to be paying for the
for the assisted living. What are they in one of
those continuity care places? Is that the idea? Yeah, basically yeah, yeah,
so well, I mean they wanted it, and okay, you know,
pay for it if you want to. But if they
(13:45):
get to a assisted living or a skilled nursing situation,
there are things that can be done now, and not
that aggressively. You can get very aggressive about it if
you want to. I mean there's ways to addbsolutely protected
right now for periods of time, but just getting your
(14:06):
estate plan done correctly. So see, one of the things
you can do is if one spouse dies, you can
protect all the assets for the other spouse. You can
set it up that way. And so in a case
like this, that's what I'd be saying. If I've got
a situation, on the other hand, where we've already got
a diagnosis of the Alzheimer's or Parkinson's or something like that,
(14:29):
Louis body dementia, whatever it may be, vascular demension, whatever
it may be, then we're going to be more aggressive
about it because then you're looking forward in a relatively
short period of time to needing skilled nursing, and then
the Medicaid in order to avoid going broke. One of
the more difficult situations that and we've had half a
(14:54):
dozen of them, is we'll have a couple that goes
to long term care facility and they do the deposit
and all the rest of this stuff with the proceeds
from the sale of the house. The problem is when
and then once they're there in short order, sometimes a
matter of weeks, sometimes a couple of months, whatever, then
(15:17):
one of them needs the skilled nursing and so they
move to skilled nursing. Well that's a multiples you know,
three four times as much as the typical assisted living.
And now those resources that you expected to last for
quite a while are drained rapidly. And then you know, oh, well,
we have a benevolent fund for that. You know, if
(15:37):
you if you if you go broke, if something like
that happens. But the problem is you would like you
would like to hold on to as much as you
can in order to provide the added you know, quality
of life type stuff that you get when you pay
for stuff on your own. Well, you won't qualify for
(15:58):
the Medicaid be cause cause the money that you get
back from buying into the continuity care program is treated
as a deposit, So there are things that need to
be that can be done to alleviate that. And you
just need to be thinking, what if we go to
(16:19):
this place my spouse needs the long term care? Yeah,
they said the Benevolent Funnel take care of us. But
in order to qualify, see this is the thing and
read the contract. In order to qualify for the Benevolent Fund,
you have to qualify for Medicaid. Well, what good is
the Benevolent Fund if I have to qualify for Medicaid? Well,
there were gin be some benefits. I'm not saying it's
(16:41):
it's completely illusory. There are some benefits to it. But
in a situation like this, we'd be taking a hard
look at what exactly the resources are, how much does
it cost, what's the health look like? Those are the
factors that go into thinking, am I going to be
(17:02):
all hands on deck? Three alarm? You know, five alarm
fire here? Or is it? Okay? Everybody's pretty happy and
healthy and this is a lifestyle choice. Okay, fine, but
what if one of them dies? I would want the
other one to have all the assets protected. So there
are some things that would be done in every case
that are frankly, very different than what usually happens. But
(17:26):
we'll provide you with a lot more options. Right if
when the feared things, you know, if when we actually
need the long term care, well, if we've got it
all set up correctly, one dies, all the assets are protected,
one needs long term care, the other one's staying in
(17:47):
assisted living. I would like to have a few extra dollars,
but I've got the problem with the deposit that the
medical the deposit that I had to pay, that that
has counted as money in the bank, which will almost
always disqualify people from receiving any benefits with any kind
of cushion. So it's just I don't mean to be
(18:10):
too obstruse about it or too dense about it, but
there really are things that need to be done right
when the time comes as a planning matter, right now.
So and that's what we do with our folks, you know,
whenever they're doing one of these continuity of care. And look,
I'm not I'm not opposed to people doing continuity care
(18:33):
because it's a community. They like the community, they like
the services that are available. But like anything else, it's
you need to have your eyes open. You need to
know what that contract says. You need to you know,
it's not just you know, what do you want to say,
(18:53):
whipped cream and cotton candy. I mean, it's you really
got to look at that contract because you're betting your life,
your equality of life, that this is going to happen.
And like anything else, like anything else, there are things
that you can do to make it better, things that
you can do to anticipate things you don't expect. So
(19:16):
that's what I would say. You know, when we're looking
at a continuitya care thing, we're about to go to break.
So Scott, if you'd like to hang on, I'll get
whatever other question you have. Would that be okay?
Speaker 3 (19:29):
Sure?
Speaker 2 (19:29):
Okay. You've been listening to the David Carrier Show. I'm
David Carrier, your famili's personal attorney.
Speaker 1 (19:38):
David's got the how too you're looking for Just call
seven seven twenty four twenty four. This is the David
Carrier Show.
Speaker 2 (19:47):
Welcome back to the David Carrier Show. I'm David Carrier,
your family's personal attorney. Now is the time to give
us a call. Six one six seven seven four twenty
four twenty four. That's six one six seven seven four
twenty four twenty four. As some of you know, I
was in Pennsylvania, in Pittsburgh last weekend. Big news on
(20:09):
that front, which we will which we will get to.
Very exciting stuff, very exciting stuff going on, very exciting
to me anyway. It probably you bore you to tears.
But ain't that the way we're talking with Scott this morning?
You can too six one or the you know, you
can talk to me anyway, six one, six seven seven
(20:29):
four twenty four, twenty four. Scott's in laws are joining
one of those continuity of care places where you kind
of started it, you started independent living, you could and
you could possibly progress. Maybe you stay in and assist
of living and independent living that'd be great, but you
could progress through assisted living all the way to skill nursing,
(20:50):
all under one roof. There are some very different rules
that apply to these places. The contract that they have
you sign is dozens of pages long, typically, and there's
stuff in there that you might be surprised to learn.
And so when you're considering one of these places, which
I'm all in favor of, the why not. I mean,
(21:10):
if that's the lifestyle that you choose, choose that lifestyle,
that's fine. But there are some things that well, let
me put it this way. If you are writing a contract, right,
you are writing a contract, a deal, you're making a deal,
and you get to set all the terms and conditions
(21:33):
of the deal. Now, you're a nice person, you're a
good person, okay, and you're not out to be horrible
to somebody else. You're out to do good things for
other people and all the rest of it. And yet
you're the one writing the contract. Does that contract look
the same if you're writing it versus if someone else
(21:53):
is writing it, the guy on the person on the
other side, I mean, or are you going to deal
a few ass to yourself? So when you're asked to
sign a contract, and this is any contract, when anybody
wants you to sign a contract, it's important. It's important
to read the contract because chances are and I I confess, admit, boast, brag,
(22:18):
whatever you want to say, whenever I write a contract
for a client, Okay, there's easter eggs in there, there's
stuff in there that you might not expect. And my
theory is that when I'm working for one of my clients,
I'm going to put a bunch of stuff in there. Okay,
that may not be particularly obvious. Yes, horrible and sneaky
(22:39):
or whatever. We don't lie about it. It's out there.
You could read it right. But there's stuff that you
put in a contract in case the other side decides
to be a jerk, because you don't want to be
at the mercy of a jerk. But you're not a jerk,
so you're not going to be bad. You're not going
to use the terms in the contract against the other person.
You just want to make sure that everything goes along.
(23:02):
Similarly with a long term care facility or a continuity
care facility, there's stuff in the contract. Okay that HM
is you wouldn't let me put it that put it
this way, you wouldn't have put in there. There's stuff
in that contract that you would not have put into
that contract. If you were right in the contract, you
(23:23):
got it. So that's why when you're doing one of
these things, you really need to be aware of what's
in there. There will be some surprises as you go
through it. Would I would suggest also when you're doing
this kind of thing, when you are doing I think
you should do it anyway, but when you're taking that step,
(23:43):
this is a good time as Scott was saying, you know,
that was why he's calling. Right, it's a good time
to kind of review your estate planning because there are
things that you should be reacting to in your estate
planning when you're taking that step. Okay, and then we've
got another question, is that right, Scott?
Speaker 3 (24:04):
I do? I do? Of course you some of your
comments made me think of other questions. I'm gonna just
I'm gonna stick with my second question. Relate. It relates
to the closing on the house, which probably end of
next month. My mother in law, who is the actual
she's the one that's kind of cognitively impaired. We have
(24:26):
a power of attorney. My father in law has a
power of attorney that he could use to sign over
the deed at closing. Oh, you know, because they're both there,
they're joint on the on the title of the property.
Speaker 2 (24:39):
Right but mother married couples. So hey, I'm gonna be
I'm gonna be persnickety here. So if you have a
married couple there, you could say joint, but really their
tenants by the entirety, which is a thing for married couples.
Just to be a jerk about it.
Speaker 3 (24:54):
No, I like to like I like to split hairs myself,
so I'm with you, and this is and kind of
split hairs. He uses the power of attorney to sign
on her behalf. Then of course they record the power
of attorney with the new deed. That's the requirement we're at.
(25:15):
They're kind of private people and they would prefer I
don't think it's a big deal, but they would prefer
not to have their power of attorney recorded publicly.
Speaker 2 (25:26):
I'm sorry, I say that again, sad they have to.
Speaker 3 (25:31):
I know, I know, But then then I go back
to this is. This is the other side of the coin.
My mother in law she can still sign documents, it
just takes a little while. But she also has those
moments where sometimes she's now very lucid, sometimes she is
And so if we were to do closing in her
sign the deed herself. But now the question is if
(25:57):
anybody wanting to challenge it could be getting trouble for
having her sign when you know she may not necessarily
understand at that moment what she's signing.
Speaker 2 (26:08):
Well, if she doesn't understand in the moment that she's signing,
she can't sign, and the notary in all likelihood is
not going to allow her, allow her to sign. If
they're doing their job, it does happen. We just have
one of these where where we did a whole you know,
estate plan, and then we get send a letter that says, oh,
(26:31):
dated after the signing that you know, this person's cognitively
a paired signed by a couple of doctors. Well, what
do you do then? I mean, we have very experienced people.
We've been doing the thousands of these and rejected. You know,
we've rejected probably hundreds now of people who were not
competent to sign documents. But you lead them through, if
(26:53):
they're responding appropriately and all the rest, and then you
get a doctor's thing that says, no, you're not competent.
What do you do then? And that's a that's a
real issue where they competent at the moment they signed,
and then short term memory loss they don't remember, and
that yeah, that's a real and sometimes people present with
a very competent affect, but they're not really behind the scenes,
(27:16):
they're not really they're not really competent. So I would say,
go ahead and record the record the uh, the power
of attorney have have them signed, because there's no question
she was competent at the time. She signed the power
of attorney, right, so I might as well sign it.
That's what I was saying.
Speaker 3 (27:35):
Okay, you know.
Speaker 2 (27:38):
Here, here's the other thing. With a trust, you don't
record the whole trust. You only record the certificate of trust.
And with the power of attorney you see who the
successors are. With a new certificate of trust, you don't
say who the successor of trust these are. You used
to have to put who the successors were and their addresses,
their home addresses. Well, now you don't do it any
(28:00):
of that. So again, with a trust, that's an advantage
of the trust. If you do a trust, then you're
not revealing anywhere near as much information publicly as you
would with a with the power of attorney.
Speaker 3 (28:13):
So right, And that's actually I was I was wondering
if they had anything like a certificate of power of attorney.
Speaker 2 (28:20):
No, no, right, now you've got to you got to
record this. They have the whole power of attorney. That's
the way that works.
Speaker 3 (28:27):
And then the question about recording, now, question would you
just recorded with eight or would you separately record it
so it's a standalone document in the record.
Speaker 2 (28:40):
That, yeah, you kind of have to record them together, okay,
you know, and and then you'll be able to find it.
You'll be able to They'll they'll record them one right
after the other, you know, because what you're saying there
is along with the power you know, pursuing to the
power of attorney recorded at libor page or recorded in
(29:00):
Ken County records, you know whatever usually so so they
will be it'll be searchable if that's the if that's
the question, they will be able to found the power
of attorney.
Speaker 3 (29:14):
So that I know. And talking to the clothing company,
they were like, you know, you could record a separately
so it has its own libr page, or we could
just attach it to the title itself so the title
becomes you know, ten pages rather than two.
Speaker 2 (29:27):
Yeah. My experience is that it's it's separate.
Speaker 3 (29:31):
So okay, okay, okay, thank you.
Speaker 2 (29:33):
Thank you, Thank you, Scott. Have a great Memorial Day weekend.
E've been listening to the David Carrier Show. I'm David Carrier,
your family's personal attorney.
Speaker 1 (29:43):
David's perkin and working and taking your calls. Now this
is the David Carrier Show.
Speaker 2 (29:50):
Welcome back to the David Carrier Show. I'm David Carrier,
your family's personal attorney. You know, you can always go
to over to the website Davidcarrier Law dot com and
at Davidcarrier laud dot com. We've got a new well,
I don't know, we've had it for a while now,
so it's a little kind of new. I mean, nobody
else has one. And what it is. It's an AI
(30:12):
artificial intelligence right, I'd like to say authentic inspiration and
authentically inspiraed inspirated inspired, uh thingy on there where if
you go, I don't know what you call, go to
the website anyway, and this thing will pop up and
you can click on the microphone and you can actually
(30:32):
ask it questions. We've got a few standard questions. You
can just click on those if you'd like. But if
you talk to the thing, if you've got a microphone
and all the rest anyway, it will it will take
your take your prompt. It's a it's an AI thing
is artificial intelligence thing. And the idea is that it
reads our website. So it's got a lot of my
(30:54):
stuff on it, right, So if you want to know
what I would say about something, it's not one hundred
percent or anything. It's it's artificial intelligence whatever, and it's
based on things I've written, things I've said, Yeah, so
it's really bad anyway. The idea is that you kind
of get our perspective, my perspective on things, so it's
(31:16):
not you know a lot of places have these things
called chatbots, and the whole purpose of the chatbot is
to set an appointment. We would like to set an appointment,
no kidding, but you get a lot more information with
this one. I mean, I've looked at the other ones
and we never did. We never did put one of
those on there because I thought it was just, I
(31:36):
don't know, kind of too annoying because the promise is, oh,
put your question here and we'll get you an answer,
and it's like, put your question here and we'll get
you an appointment. You know, someone will call you back,
and it's like, well, I would like to kind of
know what's going on right now. And that's the purpose
of the We call it a CFD, a client facing
(31:58):
device whatever, that's what the AI guys call it. But
the purpose is that you can go to the website,
you can ask a radio show type question. You know,
you don't want to go on the air, well, that's fine.
You can go there and you can ask your question,
and I think you'll be surprised. I certainly was at
the detail and the specificity of the response. Now, it's
(32:22):
not legal advice, Okay, it's not, but lots of times
we're not looking for well, like our last caller, Okay,
specific issue. And I can't tell you exactly what should
happen because there's too many factors in order to get
a real answer as opposed to way lounging on the
(32:42):
couch answer. You know, there are things you need to
know in order to get that done. Well, the AI
can at least, at the very least alert you to
the idea that, hey, there's stuff going on here, right,
it's not as simple as you might think, And here
are some other things to think, here's some information, there's
(33:03):
some other things to think about. It's not, as I say,
it's like the show, it's not legal advice, but but
it's pretty helpful. That's pretty helpful even without being legal advice.
So that's the Uh, that's one thing. And like I said,
we've had that around now for a month or two
and the feedback so far has been very has been
(33:25):
very positive. We're really encouraged by that. Here's the other thing.
We've gotten criticism over the years for not doing customary stuff.
All right, Oh it's not customary. You're not doing it
like other people are doing it. And frankly, we've kind
of let our freak flag fly, freak flag fly. Anyway.
(33:48):
I kind of said, look, we are doing things differently,
like really differently. We're not so concerned when we do
the planning. We're not so concerned. We'll put it this way.
Are our first priority is not when you die. Our
first priority is while you're alive. Okay, because we all
like to deny it, but you can't that. Long term
(34:10):
care is a reality, and the older you get, the
more likelihood that you will need it. Okay. It's not
customary to follow through when you do in a state plan.
What's customary is to give you a book with a
letter in it that says, hey, don't you forget to
follow through, which, of course you do forget to follow through,
and then damn thing doesn't work when you need it. Okay.
So that's number one. Number two, non customary. We're all
(34:33):
about the asset protection. We're all about long term care protection.
What we're trying to do is make sure that you
don't go broke in long term care, that you have
the full range of options to protect yourself, protect your family. Again,
not customary, not the way it's usually done, but I
think it's an important good and you know good and
the wholesome way of doing the planning. The third thing
(34:57):
that we do is and nobody gets this, I keep
doing these trust you know, part of our follow up
with our clients, and we do free trust reviews, so
the ideas we'll have a class and people come in
and you know, review what it was we did. Everybody
misses this. Now there's no consequence to it because you
can always get out of it. But the point is
(35:19):
that when we leave stuff to kids, we protect it
for the kids. All right. Everybody overlooks that. They just
want to deliver the money to the kids as soon
as possible before they reach room temperature. You know, get
the money to the kids, like that's a good thing.
And it's not about the kids. It's about the situations
the kids may find themselves in. You know, there was
(35:41):
a while where we thought the government was going to
you know, just write off trillion over a trillion dollars
of student debt. Well, it's not doing that anymore. What
does that mean? That means that the inheritance might very
well be going to somebody. Money that you leave behind
might very well be going to somebody who's got their
student loan thatt themselves or has guaranteed student loan debt.
(36:03):
Either way, government's coming after the inheritance. Are you with
me in this?
Speaker 1 (36:08):
So?
Speaker 2 (36:08):
But I can protect it, and we've done that for
thirty five years. We've always protected that for the beneficiaries.
Nobody else does that. They tell you, oh, do beneficiary designations.
I haven't seen one of them yet that does. Sometimes
they'll say, oh, pay it to them free from trust
when they're twenty five or thirty or forty or something
like this, as if you have a crystal ball. Oh yeah,
(36:30):
when I'm forty, there's no way I be in debt
when I'm forty. There's no way I be getting a divorce.
When I'm forty, there's no way COVID shows up and
my business goes back, business goes bust. So yeah, when
I'm forty, it'll be good. It's insanity in my opinion,
but it is customary, very customary to do with that
the Lady Bird deeds. They're just blind, blunt force. Here
(36:53):
it is without regard to the consequences. I think it's terrible.
I've always thought it was terrible. That's why I've always
done it differently. So but but and then ira is
number four is iras. IRA's are really special, really different.
They need to be dealt with specifically differently, okay, And
people don't do that customarily. So you say, well, yeah,
(37:17):
you're you know, go ahead, scream at the clouds, old man,
you know, shake your cane at them. Good luck for you.
We think things should be done customarily. And what's your
evidence that you're doing it the right way? Well, tens
of thousands of happy clients would be some evidence of
what seems like to me over the over the years.
That would be some evidence that we're doing it correctly.
(37:38):
But here's the next thing. So I'm not as much
a hermit as you might think. I actually have some
friends in Miami and Pittsburgh. And what we've done is
we've created UH and 're in the process of creating
a national partnership. We're working on this for several years now,
three years. How to do this stuff? How to do
(38:02):
it correctly, how to lower the cost of doing it.
And this is when I'm so really kind of geeked about.
We've got now twenty law firms from New York to California,
Minnesota down to Florida who are now joining with us
to present this view, this non customary view of how
(38:26):
to do planning. And it's not just the state planning.
A state planning is death planning. The idea is, how
do we make sure that your assets, that your work,
your life's work, doesn't get blown out the door as
soon as you need long term care? How do we
make sure that the programs that you've paid for, the
programs you've paid into, actually benefit you. And it's non
(38:50):
problematic when it comes to Social Security or Medicare, everybody
gets that. But when it comes to long term care,
Oh that's different. It's not different. We're building a national
network to recognize that it's not different. And like I say,
we've got our first twenty law firms online. So it's
very exciting, very exciting time, and I'm glad to be
(39:11):
making the journey with you. You've been listening to the
David Carrier Selle. I'm David Carrier. Your family's personal attorney,
Popular Podcasts
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
Ridiculous History
History is beautiful, brutal and, often, ridiculous. Join Ben Bowlin and Noel Brown as they dive into some of the weirdest stories from across the span of human civilization in Ridiculous History, a podcast by iHeartRadio.