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.
Speaker 3 (00:27):
Aren't you lucky?
Speaker 2 (00:28):
You found the place where we talk about a state planning,
elder law, real estate in business law.
Speaker 3 (00:33):
So give us a call. Whyn't a six one six
seven seven.
Speaker 2 (00:36):
Four twenty four twenty four. That's six one six seven
seven four twenty four twenty four. If you have a question,
a comment, or concerned question, comment or concern about Will's
trusts or probate. If you're wondering how do we beat
the high cost of long term care because that's what's
breaking the middle class.
Speaker 3 (00:53):
Now they're doing all this. Oh you know, we're saving this,
we're saving that. Now, that's all good. I'm not complaining
with lower taxes. I'm so security. I heard about that.
That's a good thing. And over time and all the rest. Okay, wonderful.
But you know, here's the thing.
Speaker 2 (01:08):
People do a lot of worrying about it to think
about their taxes. Well, how about you know, five hundred
and fifty dollars a day, you know, eighteen thousand dollars
a month, thirteen five.
Speaker 3 (01:20):
Thousand dollars a month, thousand, five hundred dollars a month
when you need long term care? Right? You have you
checked the price? I know you haven't. I know you haven't,
but you know.
Speaker 2 (01:32):
I have you checked the prices of what it costs
to have somebody to commit and help you out.
Speaker 3 (01:35):
Oh but my kids will do it, right, Okay, well
go with that one, you know whatever. But you know
this stuff is expensive. I mean we're talking. You know.
Speaker 2 (01:46):
It costs you so much more than you ever paid
in taxes when it comes to long term care.
Speaker 3 (01:51):
But here's the thing.
Speaker 2 (01:53):
You've been paying taxes for fifty years, now, forty years now,
thirty years now.
Speaker 3 (01:56):
You've been paying taxes with.
Speaker 2 (01:58):
Every paycheck, every single paycheck. You didn't have a paycheck
where you didn't pay for long term care. You paid
for it just like you paid for Social Security, just
like you paid for Medicare. Same saying you know, fiight
you remember that one. It doesn't matter you put down no,
you know, we're all exemptions.
Speaker 3 (02:17):
No withholding.
Speaker 2 (02:19):
That's the funniest thing in the world when you see
a teenager get their first paycheck, right and they put
in there that they that they didn't they didn't want
anything withheld, so there was no withholding, and then they
still withheld because every because absolutely everybody always no exceptions
owes fiight up, you know, Oh my goodness, which comes
(02:41):
as a big surprise.
Speaker 3 (02:43):
But you've been paying it, that's my point.
Speaker 2 (02:45):
You've been paying it right alaw until over the last
thirty forty fifty years of working.
Speaker 3 (02:50):
Maybe you're still working, I don't know. Maybe it's sixty
years of work. I don't know.
Speaker 2 (02:53):
But anyway, over those years, with every paycheck you got,
you've been paying for this stuff and other people have
been getting it. And it's not like it's not like
there's any any shortage of people who take the long
term care. In fact, most people in most long term
care facilities, most skilled nursing facilities. Anyway, according to the
federal government, it's like seventy percent. I say, that's what
(03:17):
the numbers say. You know, I think it's more like
eighty percent. I think the numbers are quite accurate. But man,
whether it's seventy like the federal government says, or sixty
nine point nine or eighty percent, which is what I say.
Speaker 3 (03:32):
Still, this is where this is.
Speaker 2 (03:33):
What NIH Nationals due to Health admits that seventy percent
of people who make it to sixty five will have
on average three years of long term care. Right, and
some of that you're going to pay for yourself.
Speaker 3 (03:44):
Some of you're not. But you know, but here's here's
the thing. Here's the thing with the NIH numbers.
Speaker 2 (03:52):
Right, And when you think about this stuff, you think
about your own experience, You think about your parents' experience
maybe when it comes to the long term care, and
you think, wow, it wasn't that bad. You know, we
had the church lady in. It wasn't that bad unk
of care.
Speaker 3 (04:07):
Bla blah.
Speaker 2 (04:08):
You think it's not that bad. Okay, But that was
back in the day. Wearingam with your parents, right, they
were the greatest generation. They weren't baby boomers. You're a
baby boomer? What does that mean? That means that means
there's lots of us? What does that mean? That means
that demand for care is very very high.
Speaker 3 (04:31):
What does that.
Speaker 2 (04:31):
Mean, Well, it wouldn't mean that much if we had
as many kids as our parents did. But that didn't happen. Okay,
that didn't happen. We believed all the nonsense about the
late great planet Earth and all the you know, all
the you know, all that craziness about how we're all
gonna be standing on each other's shoulders and it's not
(04:52):
gonna be enough room. That's not the problem. The problem
is we didn't have enough kids. That's the problem. Worldwide,
that's the problem. And our kids aren't having kids, and
you know, there you go. What that means where this
comes home to you, right, and your planning has got
to is that the supply of caregivers is plummeting, is
(05:18):
bottoming out. At the same time the demand for care
is going through the roof. Right. I don't know if
you've noticed this, but old people live a really long time.
Would you make it past eighty? Okay, you're in for
the duration. You're going to make a hundred And it
is that our car we get our car show this
last Friday, right, I guess we had about one hundred cars.
(05:40):
I don't know, let's say eighty cars. They see our
adjustment numbers about at least eighty. We had seventy some
on registered and then everybody a lot of people. Folks
could show up, anyone bring their cars. So anyway, I
had a whole lot of cars. And as far as
how many people were there, well, I know, we went
(06:02):
through two hundred and fifty burritos and tacos. We went
through what six hundred hot dogs something like that, and
and the twenty pizzas were gone like in a flash.
But anyway, you know, hundreds of bottles of water and
we went out to get more. So we had a
(06:23):
lot of folks there. And the point is that these
folks are in for the duration. One of my favorite
favorite people, he's ninety ninety six, ninety seven. Now he's
in the Snowmobiling Hall of Fame. He's you know, just
amazing kind of he's a World War two vet, you know,
so one of the few people, one of the few
(06:44):
actual veterans you know who actually served, Who's who's still around,
who's still with us? Which used to be thirty percent
of the practice, but most of those guys going on
and now very few. But this guy's still hanging. He's
going to make a hundred.
Speaker 3 (06:59):
He's going to across the.
Speaker 2 (07:00):
Yukon and the snowmobile it makes a hundred. But he's
been literally snowmobile across the RuSHA, you know, across the world,
and don the snowbook field thing. Anyway, long story short,
that guy's not going anywhere, right, and there are lots
of guys like him, lots more than there ever used
to be. So the point is that when you're doing
(07:22):
your planning, which of course nobody wants to do, which
means that nobody actually does their planning. So that's why
you come to the Three Secrets Workshop where we'll tell you.
You know, here's the thing with the Three Secrets Workshop.
You know we're not here. You know, Oh, it's not
as bad as you think. I love this when you
people think, oh, it's not as bad as you think.
It's not as bad. No, it's not as bad as
(07:42):
you think.
Speaker 3 (07:42):
That's right. It is not as bad as you think.
Speaker 2 (07:45):
More it's worse than you can imagine when it comes
to this long term care stuff.
Speaker 3 (07:50):
So you know, putting your head.
Speaker 2 (07:52):
Under the pillow and closing your eyes, get your figures
in your ears.
Speaker 3 (07:55):
That's the most natural. That's the most.
Speaker 2 (07:57):
Natural thing, or going to the easy solution. That's the
other thing that people do. It's like, oh, it's so easy,
the just do it online, put on my mom, I'm done.
Speaker 3 (08:07):
We have I would say it's probably ten percent of our.
Speaker 2 (08:09):
Clients come in because well, and I'll explain to you
why people do a state planning. People don't do a
state planning because it's just common sense. People don't do
a state planning because yeah, it's time, I need to
get that done.
Speaker 3 (08:23):
That's not what people do it. I'll tell you next time.
Speaker 2 (08:26):
Why why anybody, including yourself, why you finally get around
to it. But the point is, see, everybody wants the
easy solution. Everybody wants it to be quick and easy.
And it's not as that part isn't as bad as
you think. But you know, we're whistling past the graveyard here,
or whistling past the nursing home. I should say, and
(08:49):
that's what and that's what happens. And so people they'd
be like, oh, it'll be no problem. You know, it
wasn't so bad for mom and dad, it'll.
Speaker 3 (08:56):
Be it'll be fine for me. Well, we're different world.
Speaker 2 (09:01):
I don't know if you've noticed, but things have changed
over the last twenty thirty years, radically change in many,
many ways. That's just that's just the way it is.
So now the question is what are you going to
do about it? Are you going to maintain your economy?
Are you going to leave a record of achievement? Are
(09:22):
you going to leave you know, oh, poor Charlie, poor
so and so. Oh well that was too bad.
Speaker 3 (09:30):
Really, that's how we want to be remembered.
Speaker 2 (09:32):
That was too bad and you know, and that's not
even the big deal to my way of thinking.
Speaker 3 (09:36):
The big deal is how do you live your life?
Speaker 2 (09:40):
What do your choices matter? Okay, well, when you're broke,
it's pretty hard to make your choices matter. Money is choices,
That's what it is. It enables you, what empowers you
to decide what you're going to do and how you're
going to do it. So why not hang on to
what you've earned. I have plenty of people out there
who didn't say anything. I guess for them, it's all free,
(10:03):
meaning you paid for it. What about for you? You know,
didn't you already pay for it? Didn't you do the
righteous things?
Speaker 3 (10:10):
I think you did? Give us a call?
Speaker 2 (10:12):
Why don't you six one six seven seven four twenty
four to twenty four.
Speaker 3 (10:15):
That's number to call. Six one, six seven seven four,
twenty four, twenty four. Wellcome back to the David Carrier
Show on David Carrier.
Speaker 2 (10:26):
Your family's personal attorney apparently having some microphone issues here.
Speaker 3 (10:30):
Sorry if I sound like I'm in.
Speaker 2 (10:31):
A bucket, but you know that once in a while,
six six seven seven four, twenty four, twenty four, that's
number to call if you'd like to get your question,
comment or concern on the air. You know, we're talking
about why do people do this, do the estate planning thing?
And the reason people do estate planning is because, generally speaking,
(10:52):
is because something happened right. You don't wake up in
the morning thing, oh boy, can't wait to get my
estate planned?
Speaker 3 (10:57):
The boy, that would be fun. That kind of isn't
the way it works.
Speaker 2 (11:02):
The way it works is you see something and you say, well,
you know, what happened to mom and dad isn't going
to happen to us, Or you watch a movie or
some horrible thing happens, or generally speaking, it's something that
something has happened, death of a loved one, or you
heard a story or you saw something in your family, whatever.
(11:22):
That's why, that's why people actually actually do stuff. Sometimes
it's a phone call on radio shows so inspire some
other people. Why don't you give us a shout six
one six seven seven four twenty four twenty four That
six one six seven seven four twenty four twenty four days.
But that's the key, right, It's that it's that something
(11:45):
has happened that kind of triggers you to get the
job done, to do the to do the long term care,
to do the Actually any any part of this, any
part of the of the planning, is because you saw
something happen. We have folks in their eighties who haven't
planned right and you know, oh, we didn't want to
(12:07):
rush it. We'd get around to it someday, and you know,
eventually you do. But but my point is that when
you think about planning as something that happens to avoid probate,
safe taxes, get it to the kick right, all this
after death stuff, which yeah, it's important to do. I mean,
(12:29):
you don't want to be remembered as a pathetic loser, right,
I mean you don't. You don't want to leave a
mess for your family that oh yeah, remember what mom
and dad did? You know, oh it was pathetic, it
was terrible, and have your whole life reduced to what
happens after you're gone, and who wants that?
Speaker 3 (12:49):
And that's why.
Speaker 2 (12:50):
So so yeah, so it's a good idea to get
that handled. But you know, at the same time, you know,
well you're dead, right, well, okay, that don't think but
they're gonna think, not gonna affect you. The problem is
not that. In my world, the problem is not how
(13:10):
you're remembered, at least not first and foremost. The problem
is how you live your life. The problem is that
you've worked, and you've saved, and you've done all the
good things, and now when you need help, you know,
and which is hard to admit.
Speaker 3 (13:24):
I get that I have the same problem. You know,
it's hard to admit that.
Speaker 2 (13:28):
You need help that you need uh, you know, there
may come a time, you know, when you're not the
captain of the ship right where you're not making all
your own decisions and things like that, where you need
some assistance with these things.
Speaker 3 (13:43):
It comes for all of us.
Speaker 2 (13:44):
I mean, you know, what did they say something about
the graveyards are full of indispensable men?
Speaker 1 (13:50):
Right?
Speaker 2 (13:51):
There will come a time before that time, you know,
before the before you're.
Speaker 3 (13:56):
Off to the graveyard.
Speaker 2 (13:58):
But there will come a time when you're gonna need
somebody else's help, right, And you can either face the
fact or you can ignore it. And most people choose
to ignore it. Not our clients, because for us, you
know my practice. I mean, this is what this is
all about.
Speaker 3 (14:13):
Right. The whole planning process is not about how do
I leave stuff to your kids?
Speaker 2 (14:21):
It's not about that. It's much more about how do
I make sure right that you live the life that
you have earned? Not about getting free stuff. And I'm
not about getting special deals. I don't want any special deals.
Just give me the deal you give everybody else, right,
give me the deal. I want the same deal for
the people who were responsible, for the people who worked
(14:42):
and saved and did the good things. I want the
same deal that you're given to the people who wasted
their efforts, wasted their time, spend all their money. You know,
I mean there are people who go to the go
to the casino with their social Security check, you know,
I mean really, I mean the comments that you see,
mean that you hear about how when the social Security
(15:06):
comes in, Oh my goodness, they're crowded. Well, okay, I
guess that person's not worried about long term care because
it's free for them. But you saved, and you didn't
live on a credit card, and you didn't do all
those things. And because you didn't, he actually built up
something for the next generation, which is more and more unusual. Right,
(15:27):
every generation stands on the shoulders of the predecessors. We
all stand on the shoulders of giants.
Speaker 3 (15:33):
We all do.
Speaker 2 (15:35):
Except that now with long term care being so expensive,
and it is long term care that is so expensive,
and it's understandable. There's lots of us, lots of people
needing care, not so many people providing the care. Right
the supply and demand right, demand is up, supply is down,
price goes through the roof. That's what you're looking at.
(15:55):
That's what you're seeing. That's what you're seeing happen right now.
Speaker 3 (16:00):
It's not the.
Speaker 2 (16:03):
It's not it's not like long term care facility operators
or you know, tripping the Life Fantastic on their yachts
and stuff doesn't.
Speaker 3 (16:13):
Work like that.
Speaker 2 (16:14):
All right, people running they're going bankrupt. We just had
another major Chaine a couple of weeks ago. Right, that's
sold out of bankruptcy. It's a very difficult, difficult business
to keep going. It's a very expensive business because there's
not a lot of people want to do it.
Speaker 3 (16:30):
I saw I read an article. You know, this big.
Speaker 2 (16:32):
Beautiful bill they were talking about, right, the one that
back on the fourth of July. Do you remember that
all the super legislation they were going to include in
the legislation. And I think it's I think it's a
good idea that they do this, that they increase the
staffing levels at the long term care facilities, right, because
there's more people with more needs, all the rest of it,
(16:55):
the Demanda's way up, the needs your way up. You
need more people. But they didn't pass it, you know
the article. The reason for it apparently was they realized
and I think this is absolutely just common sense. Right,
if you increase the staffing levels at long term care facility,
that means you gotta have more people. Where are you
(17:17):
going to get the more people? There are no more people, right,
there's no more people to find. So you can say,
all right, increase your staffing levels or we shut you down. Well,
how does it help to shut everybody down when nobody
can meet the staffing level, not like you don't need it.
I get that understand, but it's super expensive as it is.
(17:40):
You can't find the people right to work in the
long term care facility, So what are you going to do?
And that's why they said, well, this is the report anyway,
That's why they say, well, no point in requiring something
that can't Isn't that amazing for Washington? They actually they
actually they actually use the common sense, a little bit
(18:01):
of common sense. Hey, if we require these people to
do this, right and there's nobody to do it, then
they're gonna shut down. Yeah, make them shut down. They'll
magically find out some way to do It's like the
fuel standards, right, every car has to go fifty miles
on to drop a gas.
Speaker 3 (18:20):
You know. That seems to be the Washington idea.
Speaker 2 (18:22):
Right, If we just tell them to do it, then
somehow figure out how Sometimes that works, I guess, but
not usually.
Speaker 3 (18:31):
And at what expense? Right, what costs?
Speaker 2 (18:35):
Well, the cost would be shutting down the nursing homes
because they just no, not a lot of people out
there want to do that kind of work.
Speaker 3 (18:41):
We just have to be real about it.
Speaker 2 (18:43):
And to the extent they are, it's super expensive to
be even worse than it is.
Speaker 3 (18:47):
Now you're listening to the David Carrier Show.
Speaker 2 (18:50):
I'm David Carrier, your family's personal attorney, inviting you to
come to one of our three secrets workshops. Find out
how not to go broke, find out how to preserve
your choice at one of our three secrets works that's
sort Just give me a call six one, six seven
seven four twenty four twenty four. Welcome back to the
David Carrier Show. I'm David Carrier, your family's personal attorney.
(19:15):
Six one six seven seven four twenty four twenty four.
That's sixty one six seven seven four twenty four twenty four.
Will get your question, comment or concern on the air. So,
uh yeah, here's a here's a good email. Here's a
good one. My sister lives in County, Michigan, owns a
(19:36):
home she'd like to leave the nephew when she passes.
How does she go about dating this home to him
without having any ownership until she dies? They cannot afford
an attorney to draw up any papers for them, So
is there an easy way to do this without legal
involvement because she has no savings? Well, okay, that's a problem, right,
you know, the fact of the matter is that you know,
(19:59):
and it's it's in Wayne County. I should have said that, Well, anyway,
that's Detroit. So if it's in some other county, I mean,
it depends obviously. But you know, there's some value in
the house. But still in in Detroit area. I mean
they're still knocking down the houses over there, aren't they.
I don't know. I mean, but the prices are prices
(20:20):
what they used to be thirty years ago here in Detroit.
I mean in different in different parts of the prices
on a home in certain neighborhoods in Detroit very very low.
Although I understand there's a renaissance and all the rest
of that good good stuff, wonderful, wonderful stuff happening in Detroit.
And never say anything bad about it. Right, Did I
(20:41):
get myself out of that one? Anyway? Here's the deal.
You know, the they cannot afford really, how much you
want to bet they get cable? How much you want
to bet? You know there's afford is what you know?
That's a that's a different idea. You know, you think
it's easy to do this stuff, right, I mean I
(21:05):
love this, So is there an easy way to do
this without having legal involvement. Okay, no, no, there really isn't.
I mean, what are you thinking? You know, I swear
to God the most expensive cases that we have, the
things that cost the clients the most at some point
is to figure this stuff out that people who had this,
(21:28):
you know. And it's not like it's not like I'm unsympathetic.
It's it's like, yeah, I get it. You want to
do good things, you want to support your family, you
want good things to happen. I understand. I'm sympathetic to.
I mean, we do god knows how much pro bono stuff,
but you know, you just do it, you know, because
there's somebody needs to get done. But it's not it's
(21:53):
not that there aren't ways to get to make this
happen right, or to do the pro bona, to do
it for free and stuff like that, or you know,
you know, ridiculously lo the with this shows up though
this this notion. See they cannot afford an attorney. Well, okay,
it depends on what you want. I suppose, But is
(22:15):
it you know, in terms of what's affordable? You know
what I mean? I mean you wonder Okay, well, what
what does affordable mean? Okay, well, I mean if it
means you're not going to eat, you know, or okay,
that I understand. But and cable, of course is very
important to have in a big screen TV. And having
a satellite dish on the roof, you know, so often
(22:37):
well it's happened where you're going in on a on
a case and it's like, you know, you did the
work because they called up and you're just doing it,
and you know, even you go to the house and
there's a satellite dish on there, it's like, wow, Okay, priorities,
I guess. Anyway, the key is this notion that there's
an easy way to do this without legal involvement. Right,
(23:01):
do you think we live in a world where it's
easy to pass one hundred thousand dollars two hundred thousand
dollars whatever, you know, a valuable property and only if
it's five thousand dollars right, Well, okay, but if it's
a if it's a one hundred thousand dollar house, which
is less than half the average price around here anyway,
(23:22):
and it's a small fraction in Chicago or other cities, right,
small fraction one hundred thousand dollars, and you want to
do that easily and without legal involvement. What I mean?
I mean, would somebody be willing to do the work
for free. Yes, we've done that kind of work for free.
(23:46):
But but here's here's the thing that we do because
we have so many people in this situation, right, we
have so many folks in this situation where they do
need work, they do need help, So we work out
some way for them to pay for it. Not now,
we're not taking food out of anyone's mouth, and we're
not shutting off the cable. Okay, you need that, fine,
(24:10):
But if there's a way eventually to pay for it,
then you do it, right. I mean, that's one of
the things that we've been doing now for thirty years,
thirty more than that thirty years, you know. Okay, you
want this to go to the next to kin, I
get it. But guess what the people who make that happen.
The pair of legals, the associate attorneys, you know, the
people at the register of deeds. Right, everybody needs to
(24:34):
get paid eventually, right somehow, some way? Why is that
a bad thing? So anyway, so there's all kinds of
ways of making that happen. But there's also just the
pro bono stuff where you do it for free. But
what I want to the reason that I'm talking about
this email here is this notion that somehow out there,
(24:56):
this is this magical thing where if I just said
the right thing or write the right words on the
piece of paper, then everything is easy, right, and I
don't need any expertise to do it? Well, what else
I don't know? You know, Hey, my car doesn't work.
Can you fix it for free? No, just tell me
(25:18):
tell me what I gotta tell me which buttons to
push to make to change the oil?
Speaker 1 (25:23):
All right?
Speaker 2 (25:24):
Or if you've got a leak in your roof, hey,
is there an easy way to do easy way to
do that without roof or involvement? Think about restating that
as any other issue. My faucet leaks. I cannot afford
a plumber to fix my leak. So is there an
easy way to do this without having plumber involvement? By
(25:45):
the way, I have three inches of water on the floor,
you know. Oh, let's see, my pulse is racing, my
blood pressure is through the roof. But I cannot afford
a doctor. Well, doctors are free, right, Okay? Anyway, So
is there an easy way to fix my heart attack
without having medical involvement? Think about it. I mean, these
(26:12):
things aren't easy. I know, there's an idea. Look, and
one of the problems we have with this is you've
got people out there pushing the idea that this is easy.
Oh yeah, there's nothing to it, just fill in this paperwork.
Let me tell you that when and there are lots
of folks who have done the quote unquote easy thing,
(26:36):
and I would not tell you. I would not tell
you that it never works. Apparently, you know, everybody has
the you know, eighty ninety year old relative who's been
smoking unfiltered Paul Malls. And the lesson that we draw
from that is that cigarettes don't cause cancer. Cigarettes are
just fine. Because my uncle Uncle Merrow there, he's still
(27:00):
off and away, and Auntie Sally has been smoking since
she was twelve, right, And so you draw the conclusion
from that, well that's okay. Well, it's the same way
with the Ladybird deeds, with put all the kids on
the deed, with put the kids on the account. All
the things that people do right to accomplish a goal
(27:21):
without thinking through the without thinking through the consequences, And
there are people who are supposed to think through our
medical consequences. People who think through are roofing consequences, are
plumbing consequences right, our automotive consequences. Well, sorry, it's the
same way with the legal stuff. Stuff isn't easy. It's
(27:45):
not easy. I mean, make it as easy as we can, right,
But the fact of the matter is you worked thirty
forty years to get that house. To pay that house
off how much you want to better. There's a thirty
year mortgage on it, right, they pay the mortgage years.
Finally get to burn the mortgage. Yay, we own the house, right,
and now you're going to cheap out on getting it
(28:06):
to the nephew. Right, because you get this idea that
some people propagate that it's so easy and you don't
actually need to think about this stuff because uncle worked
for Uncle Charlie. Well, Uncle Charlie got away with it, right.
There's a difference between getting away with something and having
a real plan. At the Three Secrets Workshop, we explain
(28:27):
the difference. Give us a call by don't just six
one six seven se them four twenty four twenty four.
I think I'm full of prunes. Tell me. So I'm
David Carrier or your family's personal attorney. Wellcome back to
the David Carrier Show. I'm David Carrier, your family's personal attorney.
Now is the time give us a call. Sixty one
six seven some of them four twenty four twenty four.
(28:49):
That's sixty one six seven some of them four twenty
four twenty four will get your question, comment or concern
on the air. We make that promise, get your question,
comment and concern on the air. Right, and Larry took
us up on it, so we're going to get him
on the air. Hello, Larry, Welcome to the David Carrier Show.
Speaker 4 (29:06):
Good morning, David. Thank you. Yeah. So I'm a client
of yours who have a plan set up many years ago. Right,
So I'm listening to one of your ironically advertisers on
your program this morning, Dave Ramsey. And there was a
caller last week on Dave Ramsey that was a person
(29:28):
that had a lot of money and was trying to
figure out how to protect it from basically what you
do nursing home poverty. And David Ramsey's answer was, Okay,
you've got a million dollars and you want to end
up in a Medicaid funded nursing home. Does that make
any sense? He said, I'm not going to a Medicaid
(29:49):
funded nursing home. That he was speaking for himself. So
what's what's your answer to that? I guess says a
person with a million dollars, what do you want to
go to a Medicaid funded nursing home? Is the quality difference?
Speaker 2 (30:03):
Yeah, so here's the So so that's I shouldn't be
saying this on the radio because it's sort of a
joke that I do in the in the seminar, because
in my seminars, you know, in the live seminar, I'm
stepping all over my joke. You're making me do this, Larry.
But but that's okay, it's because it's true, that's all right, okay. Yeah, Well,
(30:24):
at the at the workshops, you know, we always say, hey,
well you don't want to go to a Medicaid nursing
home because the Medicaid nursing homes are the stinky ones.
You know, those are the lousy ones, the bad ones.
You know, they smell funny and they've got you know, oh,
it's terrible going to a Medicaid nursing home. Right, And
then everybody starts nodding like Dave rams See, here's the
thing about Dave Ramsey. Okay, I love Dave Ramsey. I
(30:48):
think he's right about eighty five percent of the time.
And I think that if everybody did what he recommends,
a debt free and all the rest of that, God,
the world will be such a better place. I'm all
in favor of that. But what he gets wrong, he
gets totally wrong, and he should just stay in his lane. Okay,
I don't go telling you to go get a job
delivering pizzas. Okay, I don't tell you about the debt
(31:11):
the debt snowball, but you know, he gives some bad advice,
like the idea that you're supposed to apply an inheritance
to the debt snowball. No, don't do that. It's it's anyway.
That's a whole nother tangent. But here's the thing with
the Medicaid nursing homes, right, Because I set that up
and I get everybody agreeing that the Medicaid nursing homes
are just terrible. Okay, what percentage of nursing homes take Medicaid? Yeah?
(31:36):
Not many, right, one hundred percent? Oh, they all take Medicaid, okay,
except except for the Masons have a place and America
House in Zealand. Okay, everybody else takes medicaid. And the
reason everybody else takes medicaid, including the eighteen thousand dollars
a month places, all the skilled nursing facilities take the
(31:58):
medicaid because nobody's that much money. Do you realize how
quickly a million dollars it just flies off? I mean
it's like a snowflake on a hot griddle. It's gone. Okay,
So when you oh, I'm not going to Medicaid nursing home,
Oh really? What you going to America House? You're going
to come out to Zeeland. You're going to do that.
(32:19):
You're going to go to Masonic Temple that one, okay,
because everybody else takes it. Everybody takes the medicaid. Now
here's the key, and here's why you should apply for
the medicaid in my opinion, because the government solution for
(32:39):
long term care is a semi private room. Right now,
it meets all the standards and all the rest of it,
but do you get the quality of care? Do you
get the extras? Well, there are regulations and they meet
the regulations he's supposeding, right, So that's all dictated. But
you would like more. You don't want a roommate. Maybe
(33:02):
you'd like to get more than one shower a week, right,
Maybe you'd like to make sure that the clothes that
come back from the laundry are yours instead of just whatever. Okay,
that costs money. So if it's five hundred and fifty
bucks a month at a local nurse you know, at
one place, I always figure they've figured out a way
(33:23):
to get another fifty bucks a day out of you.
So eighteen thousand dollars a month, okay to thirteen thousand,
five hundred, both very good places, both of them. The
vast majority of people in there, according to the federal government,
it's about seventy percent of whoever, sixty nine points something
of nursing home residents are on the Medicaid. Okay, I
(33:44):
bump it to eighty percent because that's been my experience.
That's just what I see. But the numbers say seventy
percent and the other thirty percent, right, what about them? Well,
as soon as they go broke, they'll be on medicaid too.
Speaker 3 (34:00):
Right.
Speaker 2 (34:00):
The million dollars just doesn't last and when you've got
to marry, and we got a married couple. You know
how much they let your wife keep. You got a
million bucks. Oh, I'm a millionaire. And that's the big
problem because they think they're a millionaire. They think it's
a big deal. It's not a big deal anymore, okay.
I mean lots of people got a million bucks and
they won't have it to leave to their kids because
(34:21):
they will have spent it on the long term care
and their wife is supposed to get by. So let's
say you start off with a million bucks. That's great.
Now you get the Alzheimer's whatever, before medicaid kicks in.
You got to spend it all except one hundred and
sixty thousand dollars. How's your wife. And your wife is
going to outlive you by ten years. The numbers say five,
five to eight. I say ten because I think that's right.
(34:44):
But full disclosure, right, she's got to make it for
ten years, one hundred and sixty thousand, and she's been
living working with you to save this million dollars. It's
absolutely heartless, you know, But I understand that it's sort
of the popular I don't know, superstition or the popular
(35:05):
misconception that oh, there are these these lousy, nasty nursing
homes you know that take Medicaid. They all take Medicaid.
The fancies you know, I had back in the day,
We had a client at Glacier Hills out in ann Arbor.
And this was fifteen twenty years ago. And even then
(35:26):
it was fifteen twenty thousand dollars a month at Glacier Hills. Right, Well,
you know half the people in there are on Medicaid.
There's probably seventy. I mean, it's probably just the same
numbers as ever, you know, the But that's that's the
way it goes. I mean, this idea. And here's the
(35:47):
other thing. Here's the other thing with long term care facility.
If you've got a million dollars in your private pay, okay,
they will find ways they Oh, you know, need the
dolphin mattress, you need them. You need your dedicated memory
care worker, you need the special disc and the exclusive
(36:10):
that and then what have you. Okay, And then it's
not eighteen thousand dollars a month anymore. I mean we've
had people at thirty thirty five thousand dollars a month. Oh,
we need to put you on the special floor with
the people with that kind of thing. You know what
I mean. If you've got money, they got ways to
spend it for you, and it goes through. I mean,
(36:31):
it goes through so fast it's not even funny.
Speaker 4 (36:35):
So I agree that that the information Dave was giving
that client, it was really detrimental. I mean that she
was seeking ways to actually do what you do to
protect that and he's like, no, you know you're gonna
So I'm I just I'm misunderstood too that there's you know,
I thought there were some that, no, you can't come
(36:55):
in here because we only take private pay or better.
But that's not the case.
Speaker 2 (37:00):
Well, there's a I don't have time right now, Larry,
but in the first segment next time, I'll kind of
revisit this. But there's a whole game that gets played
with medicaid beds. That's a whole nother vast realm of misconception.
I'll deal with that at the at the top of
the hour. How about that.
Speaker 4 (37:17):
Okay, that's good, and I'll get I was going to
get to one of your suminars soon, So sorry I
wrecked your joke there.
Speaker 2 (37:22):
But all right, well, not everybody not everybody listens to
the show. So so when you come you say, I
know what he's trying to do there, he's setting us up.
Speaker 4 (37:35):
Yep, thanks a lot, David.
Speaker 2 (37:36):
Thank you, Larry, thanks for calling. You bet you you've
been listening to the David Carrier Show. 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.
Speaker 3 (00:27):
Aren't you lucky?
Speaker 2 (00:28):
You found the place where we talk about a state planning,
elder law, real estate in business law.
Speaker 3 (00:33):
So give us a call. Whyn't a six one six
seven seven.
Speaker 2 (00:36):
Four twenty four twenty four. That's six one six seven
seven four twenty four twenty four. If you have a question,
a comment, or concerned question, comment or concern about Will's
trusts or probate. If you're wondering how do we beat
the high cost of long term care because that's what's
breaking the middle class.
Speaker 3 (00:53):
Now they're doing all this. Oh you know, we're saving this,
we're saving that. Now, that's all good. I'm not complaining
with lower taxes. I'm so security. I heard about that.
That's a good thing. And over time and all the rest. Okay, wonderful.
But you know, here's the thing.
Speaker 2 (01:08):
People do a lot of worrying about it to think
about their taxes. Well, how about you know, five hundred
and fifty dollars a day, you know, eighteen thousand dollars
a month, thirteen five.
Speaker 3 (01:20):
Thousand dollars a month, thousand, five hundred dollars a month
when you need long term care? Right? You have you
checked the price? I know you haven't. I know you haven't,
but you know.
Speaker 2 (01:32):
I have you checked the prices of what it costs
to have somebody to commit and help you out.
Speaker 3 (01:35):
Oh but my kids will do it, right, Okay, well
go with that one, you know whatever. But you know
this stuff is expensive. I mean we're talking. You know.
Speaker 2 (01:46):
It costs you so much more than you ever paid
in taxes when it comes to long term care.
Speaker 3 (01:51):
But here's the thing.
Speaker 2 (01:53):
You've been paying taxes for fifty years, now, forty years now,
thirty years now.
Speaker 3 (01:56):
You've been paying taxes with.
Speaker 2 (01:58):
Every paycheck, every single paycheck. You didn't have a paycheck
where you didn't pay for long term care. You paid
for it just like you paid for Social Security, just
like you paid for Medicare. Same saying you know, fiight
you remember that one. It doesn't matter you put down no,
you know, we're all exemptions.
Speaker 3 (02:17):
No withholding.
Speaker 2 (02:19):
That's the funniest thing in the world when you see
a teenager get their first paycheck, right and they put
in there that they that they didn't they didn't want
anything withheld, so there was no withholding, and then they
still withheld because every because absolutely everybody always no exceptions
owes fiight up, you know, Oh my goodness, which comes
(02:41):
as a big surprise.
Speaker 3 (02:43):
But you've been paying it, that's my point.
Speaker 2 (02:45):
You've been paying it right alaw until over the last
thirty forty fifty years of working.
Speaker 3 (02:50):
Maybe you're still working, I don't know. Maybe it's sixty
years of work. I don't know.
Speaker 2 (02:53):
But anyway, over those years, with every paycheck you got,
you've been paying for this stuff and other people have
been getting it. And it's not like it's not like
there's any any shortage of people who take the long
term care. In fact, most people in most long term
care facilities, most skilled nursing facilities. Anyway, according to the
federal government, it's like seventy percent. I say, that's what
(03:17):
the numbers say. You know, I think it's more like
eighty percent. I think the numbers are quite accurate. But man,
whether it's seventy like the federal government says, or sixty
nine point nine or eighty percent, which is what I say.
Speaker 3 (03:32):
Still, this is where this is.
Speaker 2 (03:33):
What NIH Nationals due to Health admits that seventy percent
of people who make it to sixty five will have
on average three years of long term care. Right, and
some of that you're going to pay for yourself.
Speaker 3 (03:44):
Some of you're not. But you know, but here's here's
the thing. Here's the thing with the NIH numbers.
Speaker 2 (03:52):
Right, And when you think about this stuff, you think
about your own experience, You think about your parents' experience
maybe when it comes to the long term care, and
you think, wow, it wasn't that bad. You know, we
had the church lady in. It wasn't that bad unk
of care.
Speaker 3 (04:07):
Bla blah.
Speaker 2 (04:08):
You think it's not that bad. Okay, But that was
back in the day. Wearingam with your parents, right, they
were the greatest generation. They weren't baby boomers. You're a
baby boomer? What does that mean? That means that means
there's lots of us? What does that mean? That means
that demand for care is very very high.
Speaker 3 (04:31):
What does that.
Speaker 2 (04:31):
Mean, Well, it wouldn't mean that much if we had
as many kids as our parents did. But that didn't happen. Okay,
that didn't happen. We believed all the nonsense about the
late great planet Earth and all the you know, all
the you know, all that craziness about how we're all
gonna be standing on each other's shoulders and it's not
(04:52):
gonna be enough room. That's not the problem. The problem
is we didn't have enough kids. That's the problem. Worldwide,
that's the problem. And our kids aren't having kids, and
you know, there you go. What that means where this
comes home to you, right, and your planning has got
to is that the supply of caregivers is plummeting, is
(05:18):
bottoming out. At the same time the demand for care
is going through the roof. Right. I don't know if
you've noticed this, but old people live a really long time.
Would you make it past eighty? Okay, you're in for
the duration. You're going to make a hundred And it
is that our car we get our car show this
last Friday, right, I guess we had about one hundred cars.
(05:40):
I don't know, let's say eighty cars. They see our
adjustment numbers about at least eighty. We had seventy some
on registered and then everybody a lot of people. Folks
could show up, anyone bring their cars. So anyway, I
had a whole lot of cars. And as far as
how many people were there, well, I know, we went
(06:02):
through two hundred and fifty burritos and tacos. We went
through what six hundred hot dogs something like that, and
and the twenty pizzas were gone like in a flash.
But anyway, you know, hundreds of bottles of water and
we went out to get more. So we had a
(06:23):
lot of folks there. And the point is that these
folks are in for the duration. One of my favorite
favorite people, he's ninety ninety six, ninety seven. Now he's
in the Snowmobiling Hall of Fame. He's you know, just
amazing kind of he's a World War two vet, you know,
so one of the few people, one of the few
(06:44):
actual veterans you know who actually served, Who's who's still around,
who's still with us? Which used to be thirty percent
of the practice, but most of those guys going on
and now very few. But this guy's still hanging. He's
going to make a hundred.
Speaker 3 (06:59):
He's going to across the.
Speaker 2 (07:00):
Yukon and the snowmobile it makes a hundred. But he's
been literally snowmobile across the RuSHA, you know, across the world,
and don the snowbook field thing. Anyway, long story short,
that guy's not going anywhere, right, and there are lots
of guys like him, lots more than there ever used
to be. So the point is that when you're doing
(07:22):
your planning, which of course nobody wants to do, which
means that nobody actually does their planning. So that's why
you come to the Three Secrets Workshop where we'll tell you.
You know, here's the thing with the Three Secrets Workshop.
You know we're not here. You know, Oh, it's not
as bad as you think. I love this when you
people think, oh, it's not as bad as you think.
It's not as bad. No, it's not as bad as
(07:42):
you think.
Speaker 3 (07:42):
That's right. It is not as bad as you think.
Speaker 2 (07:45):
More it's worse than you can imagine when it comes
to this long term care stuff.
Speaker 3 (07:50):
So you know, putting your head.
Speaker 2 (07:52):
Under the pillow and closing your eyes, get your figures
in your ears.
Speaker 3 (07:55):
That's the most natural. That's the most.
Speaker 2 (07:57):
Natural thing, or going to the easy solution. That's the
other thing that people do. It's like, oh, it's so easy,
the just do it online, put on my mom, I'm done.
Speaker 3 (08:07):
We have I would say it's probably ten percent of our.
Speaker 2 (08:09):
Clients come in because well, and I'll explain to you
why people do a state planning. People don't do a
state planning because it's just common sense. People don't do
a state planning because yeah, it's time, I need to
get that done.
Speaker 3 (08:23):
That's not what people do it. I'll tell you next time.
Speaker 2 (08:26):
Why why anybody, including yourself, why you finally get around
to it. But the point is, see, everybody wants the
easy solution. Everybody wants it to be quick and easy.
And it's not as that part isn't as bad as
you think. But you know, we're whistling past the graveyard here,
or whistling past the nursing home. I should say, and
(08:49):
that's what and that's what happens. And so people they'd
be like, oh, it'll be no problem. You know, it
wasn't so bad for mom and dad, it'll.
Speaker 3 (08:56):
Be it'll be fine for me. Well, we're different world.
Speaker 2 (09:01):
I don't know if you've noticed, but things have changed
over the last twenty thirty years, radically change in many,
many ways. That's just that's just the way it is.
So now the question is what are you going to
do about it? Are you going to maintain your economy?
Are you going to leave a record of achievement? Are
(09:22):
you going to leave you know, oh, poor Charlie, poor
so and so. Oh well that was too bad.
Speaker 3 (09:30):
Really, that's how we want to be remembered.
Speaker 2 (09:32):
That was too bad and you know, and that's not
even the big deal to my way of thinking.
Speaker 3 (09:36):
The big deal is how do you live your life?
Speaker 2 (09:40):
What do your choices matter? Okay, well, when you're broke,
it's pretty hard to make your choices matter. Money is choices,
That's what it is. It enables you, what empowers you
to decide what you're going to do and how you're
going to do it. So why not hang on to
what you've earned. I have plenty of people out there
who didn't say anything. I guess for them, it's all free,
(10:03):
meaning you paid for it. What about for you? You know,
didn't you already pay for it? Didn't you do the
righteous things?
Speaker 3 (10:10):
I think you did? Give us a call?
Speaker 2 (10:12):
Why don't you six one six seven seven four twenty
four to twenty four.
Speaker 3 (10:15):
That's number to call. Six one, six seven seven four,
twenty four, twenty four. Wellcome back to the David Carrier
Show on David Carrier.
Speaker 2 (10:26):
Your family's personal attorney apparently having some microphone issues here.
Speaker 3 (10:30):
Sorry if I sound like I'm in.
Speaker 2 (10:31):
A bucket, but you know that once in a while,
six six seven seven four, twenty four, twenty four, that's
number to call if you'd like to get your question,
comment or concern on the air. You know, we're talking
about why do people do this, do the estate planning thing?
And the reason people do estate planning is because, generally speaking,
(10:52):
is because something happened right. You don't wake up in
the morning thing, oh boy, can't wait to get my
estate planned?
Speaker 3 (10:57):
The boy, that would be fun. That kind of isn't
the way it works.
Speaker 2 (11:02):
The way it works is you see something and you say, well,
you know, what happened to mom and dad isn't going
to happen to us, Or you watch a movie or
some horrible thing happens, or generally speaking, it's something that
something has happened, death of a loved one, or you
heard a story or you saw something in your family, whatever.
(11:22):
That's why, that's why people actually actually do stuff. Sometimes
it's a phone call on radio shows so inspire some
other people. Why don't you give us a shout six
one six seven seven four twenty four twenty four That
six one six seven seven four twenty four twenty four days.
But that's the key, right, It's that it's that something
(11:45):
has happened that kind of triggers you to get the
job done, to do the to do the long term care,
to do the Actually any any part of this, any
part of the of the planning, is because you saw
something happen. We have folks in their eighties who haven't
planned right and you know, oh, we didn't want to
(12:07):
rush it. We'd get around to it someday, and you know,
eventually you do. But but my point is that when
you think about planning as something that happens to avoid probate,
safe taxes, get it to the kick right, all this
after death stuff, which yeah, it's important to do. I mean,
(12:29):
you don't want to be remembered as a pathetic loser, right,
I mean you don't. You don't want to leave a
mess for your family that oh yeah, remember what mom
and dad did? You know, oh it was pathetic, it
was terrible, and have your whole life reduced to what
happens after you're gone, and who wants that?
Speaker 3 (12:49):
And that's why.
Speaker 2 (12:50):
So so yeah, so it's a good idea to get
that handled. But you know, at the same time, you know,
well you're dead, right, well, okay, that don't think but
they're gonna think, not gonna affect you. The problem is
not that. In my world, the problem is not how
(13:10):
you're remembered, at least not first and foremost. The problem
is how you live your life. The problem is that
you've worked, and you've saved, and you've done all the
good things, and now when you need help, you know,
and which is hard to admit.
Speaker 3 (13:24):
I get that I have the same problem. You know,
it's hard to admit that.
Speaker 2 (13:28):
You need help that you need uh, you know, there
may come a time, you know, when you're not the
captain of the ship right where you're not making all
your own decisions and things like that, where you need
some assistance with these things.
Speaker 3 (13:43):
It comes for all of us.
Speaker 2 (13:44):
I mean, you know, what did they say something about
the graveyards are full of indispensable men?
Speaker 1 (13:50):
Right?
Speaker 2 (13:51):
There will come a time before that time, you know,
before the before you're.
Speaker 3 (13:56):
Off to the graveyard.
Speaker 2 (13:58):
But there will come a time when you're gonna need
somebody else's help, right, And you can either face the
fact or you can ignore it. And most people choose
to ignore it. Not our clients, because for us, you
know my practice. I mean, this is what this is
all about.
Speaker 3 (14:13):
Right. The whole planning process is not about how do
I leave stuff to your kids?
Speaker 2 (14:21):
It's not about that. It's much more about how do
I make sure right that you live the life that
you have earned? Not about getting free stuff. And I'm
not about getting special deals. I don't want any special deals.
Just give me the deal you give everybody else, right,
give me the deal. I want the same deal for
the people who were responsible, for the people who worked
(14:42):
and saved and did the good things. I want the
same deal that you're given to the people who wasted
their efforts, wasted their time, spend all their money. You know,
I mean there are people who go to the go
to the casino with their social Security check, you know,
I mean really, I mean the comments that you see,
mean that you hear about how when the social Security
(15:06):
comes in, Oh my goodness, they're crowded. Well, okay, I
guess that person's not worried about long term care because
it's free for them. But you saved, and you didn't
live on a credit card, and you didn't do all
those things. And because you didn't, he actually built up
something for the next generation, which is more and more unusual. Right,
(15:27):
every generation stands on the shoulders of the predecessors. We
all stand on the shoulders of giants.
Speaker 3 (15:33):
We all do.
Speaker 2 (15:35):
Except that now with long term care being so expensive,
and it is long term care that is so expensive,
and it's understandable. There's lots of us, lots of people
needing care, not so many people providing the care. Right
the supply and demand right, demand is up, supply is down,
price goes through the roof. That's what you're looking at.
(15:55):
That's what you're seeing. That's what you're seeing happen right now.
Speaker 3 (16:00):
It's not the.
Speaker 2 (16:03):
It's not it's not like long term care facility operators
or you know, tripping the Life Fantastic on their yachts
and stuff doesn't.
Speaker 3 (16:13):
Work like that.
Speaker 2 (16:14):
All right, people running they're going bankrupt. We just had
another major Chaine a couple of weeks ago. Right, that's
sold out of bankruptcy. It's a very difficult, difficult business
to keep going. It's a very expensive business because there's
not a lot of people want to do it.
Speaker 3 (16:30):
I saw I read an article. You know, this big.
Speaker 2 (16:32):
Beautiful bill they were talking about, right, the one that
back on the fourth of July. Do you remember that
all the super legislation they were going to include in
the legislation. And I think it's I think it's a
good idea that they do this, that they increase the
staffing levels at the long term care facilities, right, because
there's more people with more needs, all the rest of it,
(16:55):
the Demanda's way up, the needs your way up. You
need more people. But they didn't pass it, you know
the article. The reason for it apparently was they realized
and I think this is absolutely just common sense. Right,
if you increase the staffing levels at long term care facility,
that means you gotta have more people. Where are you
(17:17):
going to get the more people? There are no more people, right,
there's no more people to find. So you can say,
all right, increase your staffing levels or we shut you down. Well,
how does it help to shut everybody down when nobody
can meet the staffing level, not like you don't need it.
I get that understand, but it's super expensive as it is.
(17:40):
You can't find the people right to work in the
long term care facility, So what are you going to do?
And that's why they said, well, this is the report anyway,
That's why they say, well, no point in requiring something
that can't Isn't that amazing for Washington? They actually they
actually they actually use the common sense, a little bit
(18:01):
of common sense. Hey, if we require these people to
do this, right and there's nobody to do it, then
they're gonna shut down. Yeah, make them shut down. They'll
magically find out some way to do It's like the
fuel standards, right, every car has to go fifty miles
on to drop a gas.
Speaker 3 (18:20):
You know. That seems to be the Washington idea.
Speaker 2 (18:22):
Right, If we just tell them to do it, then
somehow figure out how Sometimes that works, I guess, but
not usually.
Speaker 3 (18:31):
And at what expense? Right, what costs?
Speaker 2 (18:35):
Well, the cost would be shutting down the nursing homes
because they just no, not a lot of people out
there want to do that kind of work.
Speaker 3 (18:41):
We just have to be real about it.
Speaker 2 (18:43):
And to the extent they are, it's super expensive to
be even worse than it is.
Speaker 3 (18:47):
Now you're listening to the David Carrier Show.
Speaker 2 (18:50):
I'm David Carrier, your family's personal attorney, inviting you to
come to one of our three secrets workshops. Find out
how not to go broke, find out how to preserve
your choice at one of our three secrets works that's
sort Just give me a call six one, six seven
seven four twenty four twenty four. Welcome back to the
David Carrier Show. I'm David Carrier, your family's personal attorney.
(19:15):
Six one six seven seven four twenty four twenty four.
That's sixty one six seven seven four twenty four twenty four.
Will get your question, comment or concern on the air. So,
uh yeah, here's a here's a good email. Here's a
good one. My sister lives in County, Michigan, owns a
(19:36):
home she'd like to leave the nephew when she passes.
How does she go about dating this home to him
without having any ownership until she dies? They cannot afford
an attorney to draw up any papers for them, So
is there an easy way to do this without legal
involvement because she has no savings? Well, okay, that's a problem, right,
you know, the fact of the matter is that you know,
(19:59):
and it's it's in Wayne County. I should have said that, Well, anyway,
that's Detroit. So if it's in some other county, I mean,
it depends obviously. But you know, there's some value in
the house. But still in in Detroit area. I mean
they're still knocking down the houses over there, aren't they.
I don't know. I mean, but the prices are prices
(20:20):
what they used to be thirty years ago here in Detroit.
I mean in different in different parts of the prices
on a home in certain neighborhoods in Detroit very very low.
Although I understand there's a renaissance and all the rest
of that good good stuff, wonderful, wonderful stuff happening in Detroit.
And never say anything bad about it. Right, Did I
(20:41):
get myself out of that one? Anyway? Here's the deal.
You know, the they cannot afford really, how much you
want to bet they get cable? How much you want
to bet? You know there's afford is what you know?
That's a that's a different idea. You know, you think
it's easy to do this stuff, right, I mean I
(21:05):
love this, So is there an easy way to do
this without having legal involvement. Okay, no, no, there really isn't.
I mean, what are you thinking? You know, I swear
to God the most expensive cases that we have, the
things that cost the clients the most at some point
is to figure this stuff out that people who had this,
(21:28):
you know. And it's not like it's not like I'm unsympathetic.
It's it's like, yeah, I get it. You want to
do good things, you want to support your family, you
want good things to happen. I understand. I'm sympathetic to.
I mean, we do god knows how much pro bono stuff,
but you know, you just do it, you know, because
there's somebody needs to get done. But it's not it's
(21:53):
not that there aren't ways to get to make this
happen right, or to do the pro bona, to do
it for free and stuff like that, or you know,
you know, ridiculously lo the with this shows up though
this this notion. See they cannot afford an attorney. Well, okay,
it depends on what you want. I suppose, But is
(22:15):
it you know, in terms of what's affordable? You know
what I mean? I mean you wonder Okay, well, what
what does affordable mean? Okay, well, I mean if it
means you're not going to eat, you know, or okay,
that I understand. But and cable, of course is very
important to have in a big screen TV. And having
a satellite dish on the roof, you know, so often
(22:37):
well it's happened where you're going in on a on
a case and it's like, you know, you did the
work because they called up and you're just doing it,
and you know, even you go to the house and
there's a satellite dish on there, it's like, wow, Okay, priorities,
I guess. Anyway, the key is this notion that there's
an easy way to do this without legal involvement. Right,
(23:01):
do you think we live in a world where it's
easy to pass one hundred thousand dollars two hundred thousand
dollars whatever, you know, a valuable property and only if
it's five thousand dollars right, Well, okay, but if it's
a if it's a one hundred thousand dollar house, which
is less than half the average price around here anyway,
(23:22):
and it's a small fraction in Chicago or other cities, right,
small fraction one hundred thousand dollars, and you want to
do that easily and without legal involvement. What I mean?
I mean, would somebody be willing to do the work
for free. Yes, we've done that kind of work for free.
(23:46):
But but here's here's the thing that we do because
we have so many people in this situation, right, we
have so many folks in this situation where they do
need work, they do need help, So we work out
some way for them to pay for it. Not now,
we're not taking food out of anyone's mouth, and we're
not shutting off the cable. Okay, you need that, fine,
(24:10):
But if there's a way eventually to pay for it,
then you do it, right. I mean, that's one of
the things that we've been doing now for thirty years,
thirty more than that thirty years, you know. Okay, you
want this to go to the next to kin, I
get it. But guess what the people who make that happen.
The pair of legals, the associate attorneys, you know, the
people at the register of deeds. Right, everybody needs to
(24:34):
get paid eventually, right somehow, some way? Why is that
a bad thing? So anyway, so there's all kinds of
ways of making that happen. But there's also just the
pro bono stuff where you do it for free. But
what I want to the reason that I'm talking about
this email here is this notion that somehow out there,
(24:56):
this is this magical thing where if I just said
the right thing or write the right words on the
piece of paper, then everything is easy, right, and I
don't need any expertise to do it? Well, what else
I don't know? You know, Hey, my car doesn't work.
Can you fix it for free? No, just tell me
(25:18):
tell me what I gotta tell me which buttons to
push to make to change the oil?
Speaker 1 (25:23):
All right?
Speaker 2 (25:24):
Or if you've got a leak in your roof, hey,
is there an easy way to do easy way to
do that without roof or involvement? Think about restating that
as any other issue. My faucet leaks. I cannot afford
a plumber to fix my leak. So is there an
easy way to do this without having plumber involvement? By
(25:45):
the way, I have three inches of water on the floor,
you know. Oh, let's see, my pulse is racing, my
blood pressure is through the roof. But I cannot afford
a doctor. Well, doctors are free, right, Okay? Anyway, So
is there an easy way to fix my heart attack
without having medical involvement? Think about it. I mean, these
(26:12):
things aren't easy. I know, there's an idea. Look, and
one of the problems we have with this is you've
got people out there pushing the idea that this is easy.
Oh yeah, there's nothing to it, just fill in this paperwork.
Let me tell you that when and there are lots
of folks who have done the quote unquote easy thing,
(26:36):
and I would not tell you. I would not tell
you that it never works. Apparently, you know, everybody has
the you know, eighty ninety year old relative who's been
smoking unfiltered Paul Malls. And the lesson that we draw
from that is that cigarettes don't cause cancer. Cigarettes are
just fine. Because my uncle Uncle Merrow there, he's still
(27:00):
off and away, and Auntie Sally has been smoking since
she was twelve, right, And so you draw the conclusion
from that, well that's okay. Well, it's the same way
with the Ladybird deeds, with put all the kids on
the deed, with put the kids on the account. All
the things that people do right to accomplish a goal
(27:21):
without thinking through the without thinking through the consequences, And
there are people who are supposed to think through our
medical consequences. People who think through are roofing consequences, are
plumbing consequences right, our automotive consequences. Well, sorry, it's the
same way with the legal stuff. Stuff isn't easy. It's
(27:45):
not easy. I mean, make it as easy as we can, right,
But the fact of the matter is you worked thirty
forty years to get that house. To pay that house
off how much you want to better. There's a thirty
year mortgage on it, right, they pay the mortgage years.
Finally get to burn the mortgage. Yay, we own the house, right,
and now you're going to cheap out on getting it
(28:06):
to the nephew. Right, because you get this idea that
some people propagate that it's so easy and you don't
actually need to think about this stuff because uncle worked
for Uncle Charlie. Well, Uncle Charlie got away with it, right.
There's a difference between getting away with something and having
a real plan. At the Three Secrets Workshop, we explain
(28:27):
the difference. Give us a call by don't just six
one six seven se them four twenty four twenty four.
I think I'm full of prunes. Tell me. So I'm
David Carrier or your family's personal attorney. Wellcome back to
the David Carrier Show. I'm David Carrier, your family's personal attorney.
Now is the time give us a call. Sixty one
six seven some of them four twenty four twenty four.
(28:49):
That's sixty one six seven some of them four twenty
four twenty four will get your question, comment or concern
on the air. We make that promise, get your question,
comment and concern on the air. Right, and Larry took
us up on it, so we're going to get him
on the air. Hello, Larry, Welcome to the David Carrier Show.
Speaker 4 (29:06):
Good morning, David. Thank you. Yeah. So I'm a client
of yours who have a plan set up many years ago. Right,
So I'm listening to one of your ironically advertisers on
your program this morning, Dave Ramsey. And there was a
caller last week on Dave Ramsey that was a person
(29:28):
that had a lot of money and was trying to
figure out how to protect it from basically what you
do nursing home poverty. And David Ramsey's answer was, Okay,
you've got a million dollars and you want to end
up in a Medicaid funded nursing home. Does that make
any sense? He said, I'm not going to a Medicaid
(29:49):
funded nursing home. That he was speaking for himself. So
what's what's your answer to that? I guess says a
person with a million dollars, what do you want to
go to a Medicaid funded nursing home? Is the quality difference?
Speaker 2 (30:03):
Yeah, so here's the So so that's I shouldn't be
saying this on the radio because it's sort of a
joke that I do in the in the seminar, because
in my seminars, you know, in the live seminar, I'm
stepping all over my joke. You're making me do this, Larry.
But but that's okay, it's because it's true, that's all right, okay. Yeah, Well,
(30:24):
at the at the workshops, you know, we always say, hey,
well you don't want to go to a Medicaid nursing
home because the Medicaid nursing homes are the stinky ones.
You know, those are the lousy ones, the bad ones.
You know, they smell funny and they've got you know, oh,
it's terrible going to a Medicaid nursing home. Right, And
then everybody starts nodding like Dave rams See, here's the
thing about Dave Ramsey. Okay, I love Dave Ramsey. I
(30:48):
think he's right about eighty five percent of the time.
And I think that if everybody did what he recommends,
a debt free and all the rest of that, God,
the world will be such a better place. I'm all
in favor of that. But what he gets wrong, he
gets totally wrong, and he should just stay in his lane. Okay,
I don't go telling you to go get a job
delivering pizzas. Okay, I don't tell you about the debt
(31:11):
the debt snowball, but you know, he gives some bad advice,
like the idea that you're supposed to apply an inheritance
to the debt snowball. No, don't do that. It's it's anyway.
That's a whole nother tangent. But here's the thing with
the Medicaid nursing homes, right, Because I set that up
and I get everybody agreeing that the Medicaid nursing homes
are just terrible. Okay, what percentage of nursing homes take Medicaid? Yeah?
(31:36):
Not many, right, one hundred percent? Oh, they all take Medicaid, okay,
except except for the Masons have a place and America
House in Zealand. Okay, everybody else takes medicaid. And the
reason everybody else takes medicaid, including the eighteen thousand dollars
a month places, all the skilled nursing facilities take the
(31:58):
medicaid because nobody's that much money. Do you realize how
quickly a million dollars it just flies off? I mean
it's like a snowflake on a hot griddle. It's gone. Okay,
So when you oh, I'm not going to Medicaid nursing home,
Oh really? What you going to America House? You're going
to come out to Zeeland. You're going to do that.
(32:19):
You're going to go to Masonic Temple that one, okay,
because everybody else takes it. Everybody takes the medicaid. Now
here's the key, and here's why you should apply for
the medicaid in my opinion, because the government solution for
(32:39):
long term care is a semi private room. Right now,
it meets all the standards and all the rest of it,
but do you get the quality of care? Do you
get the extras? Well, there are regulations and they meet
the regulations he's supposeding, right, So that's all dictated. But
you would like more. You don't want a roommate. Maybe
(33:02):
you'd like to get more than one shower a week, right,
Maybe you'd like to make sure that the clothes that
come back from the laundry are yours instead of just whatever. Okay,
that costs money. So if it's five hundred and fifty
bucks a month at a local nurse you know, at
one place, I always figure they've figured out a way
(33:23):
to get another fifty bucks a day out of you.
So eighteen thousand dollars a month, okay to thirteen thousand,
five hundred, both very good places, both of them. The
vast majority of people in there, according to the federal government,
it's about seventy percent of whoever, sixty nine points something
of nursing home residents are on the Medicaid. Okay, I
(33:44):
bump it to eighty percent because that's been my experience.
That's just what I see. But the numbers say seventy
percent and the other thirty percent, right, what about them? Well,
as soon as they go broke, they'll be on medicaid too.
Speaker 3 (34:00):
Right.
Speaker 2 (34:00):
The million dollars just doesn't last and when you've got
to marry, and we got a married couple. You know
how much they let your wife keep. You got a
million bucks. Oh, I'm a millionaire. And that's the big
problem because they think they're a millionaire. They think it's
a big deal. It's not a big deal anymore, okay.
I mean lots of people got a million bucks and
they won't have it to leave to their kids because
(34:21):
they will have spent it on the long term care
and their wife is supposed to get by. So let's
say you start off with a million bucks. That's great.
Now you get the Alzheimer's whatever, before medicaid kicks in.
You got to spend it all except one hundred and
sixty thousand dollars. How's your wife. And your wife is
going to outlive you by ten years. The numbers say five,
five to eight. I say ten because I think that's right.
(34:44):
But full disclosure, right, she's got to make it for
ten years, one hundred and sixty thousand, and she's been
living working with you to save this million dollars. It's
absolutely heartless, you know, But I understand that it's sort
of the popular I don't know, superstition or the popular
(35:05):
misconception that oh, there are these these lousy, nasty nursing
homes you know that take Medicaid. They all take Medicaid.
The fancies you know, I had back in the day,
We had a client at Glacier Hills out in ann Arbor.
And this was fifteen twenty years ago. And even then
(35:26):
it was fifteen twenty thousand dollars a month at Glacier Hills. Right, Well,
you know half the people in there are on Medicaid.
There's probably seventy. I mean, it's probably just the same
numbers as ever, you know, the But that's that's the
way it goes. I mean, this idea. And here's the
(35:47):
other thing. Here's the other thing with long term care facility.
If you've got a million dollars in your private pay, okay,
they will find ways they Oh, you know, need the
dolphin mattress, you need them. You need your dedicated memory
care worker, you need the special disc and the exclusive
(36:10):
that and then what have you. Okay, And then it's
not eighteen thousand dollars a month anymore. I mean we've
had people at thirty thirty five thousand dollars a month. Oh,
we need to put you on the special floor with
the people with that kind of thing. You know what
I mean. If you've got money, they got ways to
spend it for you, and it goes through. I mean,
(36:31):
it goes through so fast it's not even funny.
Speaker 4 (36:35):
So I agree that that the information Dave was giving
that client, it was really detrimental. I mean that she
was seeking ways to actually do what you do to
protect that and he's like, no, you know you're gonna
So I'm I just I'm misunderstood too that there's you know,
I thought there were some that, no, you can't come
(36:55):
in here because we only take private pay or better.
But that's not the case.
Speaker 2 (37:00):
Well, there's a I don't have time right now, Larry,
but in the first segment next time, I'll kind of
revisit this. But there's a whole game that gets played
with medicaid beds. That's a whole nother vast realm of misconception.
I'll deal with that at the at the top of
the hour. How about that.
Speaker 4 (37:17):
Okay, that's good, and I'll get I was going to
get to one of your suminars soon, So sorry I
wrecked your joke there.
Speaker 2 (37:22):
But all right, well, not everybody not everybody listens to
the show. So so when you come you say, I
know what he's trying to do there, he's setting us up.
Speaker 4 (37:35):
Yep, thanks a lot, David.
Speaker 2 (37:36):
Thank you, Larry, thanks for calling. You bet you you've
been listening to the David Carrier Show. I'm David Carrier,
your family's personal attorney.
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