(2025) 9-28 David Carrier Show Hour 1 Podcast

Episode Transcript

Speaker 1 (00:01):
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 (00:21):
Hello, and welcome to the David Carrier Show. I'm David Carrier,
your family's personal attorney. And you have found a place
where we talk about a state planning, elder law, real
estate and business law. So give us a call. Why
don't you six one six seven seven four twenty four
twenty four. That sixty one six seven seven four twenty
four twenty four. It's free. What could it hurt? Hey,

(00:44):
Yesterday I had a lot of fun yesterday visiting with
some having the leadership summit of the Tabernacle Church there
and that it was really it was really a good idea.
We had a good time and it was really a
new life Tabernacle. It's really very very uh excellent, excellent thing.

(01:07):
And you say, well, what the hell is a lawyer doing.
I don't know is a lawyer doing at a convocation
of pastors and you know, god fearing people Huh what
is he doing there? Well, I'm going to tell you,
but if you give me a call at sixty one
six seven seven four twenty four twenty four, I will
gladly answer your question first six one six seven seven

(01:28):
four twenty four twenty four, we'll get your question on
the AAR. So what could churches want to know about me?
You know about law, about the state planning in the
whole nine yards. Well, here's here's the thing. I don't
know if you've noticed, but, uh, ministry is not easy, okay,
you know, administering to your fellow parer. I mean, it

(01:49):
looks like we've got a revival underway. That'd be great, okay,
but you know it's not. It's not so easy and
fundamentally so. So that's that's issue, right, And we've got
to got to help out where we can. That's sort
of where I know where they reached out to me.
But uh, what is it to think about any charitable

(02:12):
organization you're involved, could be your church, could be, whatever,
whatever it is. Wouldn't it be nice if you could
help out some of the folks that you're dealing with
in your charitable organization, right and help out the charitable
organization as well. See a lot of a lot of
what you hear today, it's like, oh, well, you don't you.

(02:33):
I mean, you know, people people ascribe to other people
motivations which may be partially correct, maybe partially correct, but
don't tell the whole story. I mean, obviously, lots of
times you're just flat wrong, which is one of the
reasons we have such a poisonous atmosphere in many situations.
Put it that way, But the fact of the matter

(02:55):
is that you can accomplish multiple goals at the same time. Right.
Have you ever noticed that if you do a bad thing,
it's easier to do another bad thing. In fact, sometimes
doing the first bad thing requires that you do a
bunch of other bad things. Have you ever noticed that?
It's true? I learned that from my father anyway, So

(03:17):
that's one thing. But see it works the other way too.
If you do one good thing, then other good things
tend to follow from it. Now I am so sick
and tired of hearing people who tell me, oh, well,
here's the real reason you know what I mean. They
say it like this, there's the real reason you did whatever.
It's like, what do you mean the real reason it's like,

(03:40):
I can't have more than one reason for doing something,
like I gotta have only one reason. Is that how
that works? No, what in your life do you ever
do that? There's only one reason for it, right? And
then the way they do that is they delegitimize your choices.
Of what they say is, oh, you're doing that for
your selfish motive, and it's like, no, actually, I was

(04:00):
really trying to help out. And hey, guess what, just
because the world's a kinder, more peaceful, generous, gentle place,
because I'm treating other people the way I would like
to be treated, that doesn't mean I'm doing it selfishly. No,
I really do want you know, is it? Part of it?
Is that part of it? Yeah? What I like to

(04:21):
live in a world where people are generous and kind
and fair and all the rest of that stuff. Yeah. Yeah,
And so that's a good reason for you to be kind,
generous and thank amendments and all the rest of that stuff.
That's a good reason. It's not the only reason. It
doesn't turn you into a selfish monster because you tell
the truth. Oh, the only reason you're telling the truth

(04:41):
because you're afraid of hell fire. Well, okay, that's part
of it, yes, okay, got it? Or you have a
selfish desire to sit on a cloud and sling a harp, right, Oh,
you're so selfish for being good? Right? Well yeah, I
mean those are kind of consequences, right, part of the consequences.
But part of the part of it is you just

(05:03):
want to be nice. You just want to be good,
You just want to get along, you want good things
for other people as well. So my point is that
unlike most of what you seem to hear these days,
which is just it's all caricature, you know what I mean. Oh,
here's why are you doing that?

Speaker 3 (05:21):
You know?

Speaker 2 (05:21):
Yeah, it's so selfish. Oh it's so bad, it's so
this it so that let's all just calm down a
little bit, back off a little bit, and recognize that
if you do one bad thing, there are other bad
things that coming. Okay, So if you if you do
some evil to some person, right, evil people tend to
have lots of evil things going on. You know, you

(05:44):
just don't look around, I mean, right, I mean you
think lying is bad, well, why don't you go carjack
somebody and then not lie about it? I mean, how
does that work?

Speaker 1 (05:57):
You know?

Speaker 2 (05:57):
One bad thing, another bad thing, or then lie about
the lie, and all the rest of them bezels something.
Oh you know terrible are you'rezz Well? You got a
whole string of lies that go along with that. Okay,
and that's the road to perdition. Sorry, that's the way
it works. But here's the thing. If you're good and
true and honest and fair, then guess what they're good

(06:20):
things tend to go along. And it's the same way
with planning. And that's what we're talking about New Tabernacle,
the New Life Tabernacle. The point is the point is that.
And now you're wondering how am I going to tie
this back to estate planning? Right? Oh so easy. We
got a lot of folks at church who are getting older,

(06:43):
and back in the day, churches didn't have to get
involved in that so much because the family would do it,
all right. Family would take care of the person in
the church. And sometimes you have you know, the lady
at church who would who would do adult day care
kind of thing. You know, come sit with my dad
and you can pay them five bucks and you know
everybody's everybody's happy. Well, it's the church lady nowadays who

(07:06):
needs the care right, and kids aren't doing it. One
of the reasons the kids aren't doing it is because
the kids aren't there. You didn't have as we didn't
have as many kids as our parents did, and a
lot of people didn't have kids at all. And look
at current trends. It's horrifying, right that we're aging out.
What a crazy idea that is, But look at it,

(07:27):
it's what's happening. The population collapses, unbelievable. I mean, we
were told, oh, eorth's going to be overrun with people. No,
it doesn't look like that. It doesn't look like that's
what's actually happening. But the point is that right now,
right here, right now, baby boomers didn't have as many
kids as their parents did, obviously, right, And as a
consequence of that, as a consequence of that, there aren't

(07:49):
as many kids around to take care of the baby
boomers as there were to take care of the greatest generation.
And society has evolved, moved, whatever you want to call it,
so that the other informal support systems are gone as well,
which leaves one of the strongest informal support systems, which
is the church. Which is the church, I mean all

(08:11):
kinds of churches, right, but the church faith. And you say, well, okay,
so the church should do a ministry to older people. Yeah,
I get it, But guess what the other people. Remember
it's always other people are supposed to do this stuff.
The other people have a lot going on, right, they
have a lot going on too, And all of this

(08:33):
takes money, money, money, money. Well, people got to live
and everything's more expensive than you and I reflexively remember it.
If you want a test of that, here's the test.
How much did you pay for your first house? How
much did you pay? Think about your first house? You know,
two bedrooms, three bedrooms, bath to bad, didn't have a

(08:54):
hot dub, didn't have a lot of things, didn't have
didn't have cable, no satellite, didn't have the WiFi. But
it had rooms. Right, I had a flush toilet, there
you go, hot water. But think about what it would
cost to buy that house today. Oh, we paid sixty
five thousand dollars. Oh, that must have been a nice house.

(09:15):
Back in the seventies it was. Well, the damn thing's
three hundred and fifty four hundred thousand now, but the heck,
how's that going to work? How's that supposed to work
for that next generation. You see, they're busy out there
paying their mortgage, doing their stuff, more busy than frankly,
you and I were. It was a different deal back then. Okay,

(09:36):
So how and plus there are a fewer of them,
So how do we handle that care issue? How do
we make sure that people get the care that they need,
which is going to cost money? Forty bucks an hour
just to have somebody come in and sit with you,
and that's a median price, that's the mid range price
is about well, thirty nine dollars an hour to be
exactly right, thirty nine dollars an hour to have somebody

(09:59):
come out to the house. Now a nurse, not a
super trained person, but a nice person, got a background check,
we hope, and twelve hours of training. Forty bucks an hour? Okay?
How much for a nurse over one hundred? They start
over one hundred dollars an hour. You want a nurse?
A nurse?

Speaker 1 (10:14):
Nurse?

Speaker 2 (10:15):
Okay? So what do we do about that? Where does
the money come from? How do we maneuver all this stuff? Well,
you came to the right place, and in the next segment,
I'm going to tell you exactly what I told the
folks over at the church convention yesterday. You're listening to
the David Carriers Show. I'm David Carrier, your family's personal attorney.

Speaker 1 (10:37):
This hour of the David Carrier Show is pro bono,
so call in now at seven seven twenty four, twenty four.
This is the David Carrier Show.

Speaker 2 (10:49):
Wellcome back to the David Carrier Show. I'm David Carrier,
your family's personal attorney. So we're talking about good leads
to good, bad leads to bad. And by the way,
good would lead to you calling me at sixty one
six seven seven four twenty four twenty four. That's sixty
one six seven seven four twenty four at twenty four.
That would be a good thing, especially if a question

(11:11):
comment or concern about wills, trusts or probate. If you're
wondering how do I beat the high cost of long
term care? I want to sell this house now that
interest rates are down. Oh my goodness. There's there's something
like hotcakes. I always wonder how hot cakes sell, but anyway,
I guess it must be good. So anyway, houses are
now selling like hotcakes because the mortgage interest rates are down.
Maybe they get down lower. Who knows, or if you're

(11:34):
running a business, wish you were running a business, Wish
to the high Heaven that you never started that business.
Now's the time, give us a call. Six one, six, seven,
seven four, twenty four, twenty four. There you are. Now.
So we're at the leadership summit from the New Life
Tabernacle Church yesterday. I'm talking to all the church leaders.
And you know, the fact of the matter is, as

(11:56):
I was just saying, America is getting older, which means
more care is needed, and that is expensive, expensive, and
the program right, you get three programs for your fight.
Did you know this? You had three programs? You get
Social Security, Medicare, and Medicaid. Right, you paid for them
all payroll taxes at work. Blah blah. Right, that's who's

(12:16):
paying for Social Security, Medicare, Medicaid. You're paying for it
comes out of your paycheck. Big surprise. Oh what a shock.
I actually have to pay for these things. Yeah, no kidding,
And you're doing most of the payan that's the way
it is, Okay, fine, So if that's the way it is,
I guess that's the way it is. But when you

(12:37):
pay for Social Security, at least you have the consolation
that if you live long enough, right, if you live
long enough, you're going to get something back. Same way
with medicare. You need a new hip, Medicare you got
to hire bypass medicare. How about just a little stent
there a Medicare. Okay, Medicare will take care of you
after sixty five because why because you paid for it,
that's why. Oh and by the way, they still want

(12:58):
to take some more money out of your so security
to pay for the additional stuff that you also really
need but which they didn't take enough taxes out to
pay for, so you got to pay for that all
over again. Plus you get to buy supplemental insurance. Why
supplemental insurance because it doesn't cover everything. So in other words,
pay pay pay, and if you pay, pay pay, then

(13:20):
you don't have to pay pay pay when you get
a need a bypass or a new knee or something
like that. Hip breaks. Whoops, Hey, no problem, I got
the Medicare good good, and the supplement good good, and
the prescription drug benefit oh good, good, good, wonderful stuff
all right. Now, what it doesn't pay for, it does
not pay for is the forty bucks an hour to

(13:42):
have the young person come to your house and sit
with you because you got dementia, which, of course no
one ever gets dementia, right, I mean NIH says it's
seventy percent three years or more, but nobody you know,
bloney that that never happens, or it never happens. Okay, fine,
live in Denile, why not anyway, swimming denial, go to
Egypt anyway. The point is right, you got to be

(14:04):
thinking about that stuff, or you should be thinking about
that stuff. And and it's not covered, right, what does
that mean? It's not covered? What it means is what
it means is you didn't you did already pay for it.
But the rules for qualifying for the Medicaid are so difficult, right,
So it's so difficult to qualify that you know, most

(14:27):
people just go broke or they go broke, and then
they go on Medicaid or they go broke. Then you
wait for two or three months, right while they're trying
to figure out your Medicaid application. I just had this
conversation again with controller one of the change of nursing homes.
You know, this stuff that I'm telling you is it's undeniable.
It's well known. You've never heard it before except here,

(14:49):
I guess. But nothing I'm telling you is controversial in
the industry. Like everybody gets this. It's the same as
when I tell you your revocable trust is going to fail.
Everybody knows. Bankers know it, insurance agents know it. Financial
everybody knows it. Because there was no follow through. That's
why it's going to fail. But leave that aside. But
this is another one where people look at me like

(15:10):
I got three heads or something, and they're like, oh,
that doesn't happen. People just better do it, you know,
I'm sure it'll be okay. And it's like social workers
are filling out the medicaid applications. Do you know anybody
who would be any good as a social worker who
would also be good as sort of an accountant accountant slash?
I mean what, But those are the only people around

(15:31):
to do the applications, and that's what and they do. Look,
they do the best they can. I'm not saying they don't.
But if you give me six jobs, right and one
is right in my skill set being nice to older
people and plumping up the pillow. And I don't mean
to minimize what they do, but you know that care
type services what kind of people become social workers, caring people.

(15:52):
They care about people more than they care about the numbers, right,
and the applications reflect that, which is why frequently, not
every time, but frequently you lose a month or two
or three of eligibility, right, because they're really busy. Everybody's
overworked in long term care facility. Everybody is the way
it is, the staffing, lovel all the rest. Okay. And

(16:15):
so now you've gone three months without paying a nursing
home and you don't know about the pre existing medical
expense program because nobody ever told you about that either, right,
And now the moment passes, you can't apply for it,
and they come after your house. Everybody like, oh, the
house is protected, the house is protected. House ain't protected.
Forget about it. Okay, you've got to plan for this stuff.

(16:37):
You've got to look at this stuff seriously and deal
with it in advance. And when you do, this is
my point, when you do, good things just happen. Magical.
It's not magical. It's probably part of the plan. But
good things happen when good things happen. What in your
life is not that way? What in your life isn't good?

(16:59):
Followed from good you do one good thing, and unexpected
good things happen. So here's my point. What a church
can do is set up what we call a pooled fund.
And this is the idea here is that if in
a group of churches the same thing, or a charity,
what have you? And what you do is you set
up this pooled fund. And if you have too much money, property,

(17:23):
what have you to qualify for the medicaid? You throw
this stuff into the pooled fund and we keep an
account of who put what in. That money is then
spent for the benefit of the person who put the
money in, Okay, for whoever, the benefit of the person
whoever the person put the money in. That money is
held for their benefit. So they can get more than

(17:46):
one shower a week, so they can get a private room,
so they can send their laundry out, so they wear
their own freaking clothes, right, the usual, you know the extras,
Oh luxury extras. I got to wear my own clothes. Wow,
that's amazing. I got more than one shower a week.
Oh Jesus, like being an acapoco. Whatever. The point is

(18:08):
that rather than spend all your money down, rather than
have your congregants your parishioners, your members, spend all their
money down, they can put it all together, right, and
then it's held. And the deal is that when the
person passes, whatever's left goes to the church, goes to
your charity, your favorite charity. Okay, so when the church

(18:29):
runs the pooled fund, right, what are you doing? Number one?
You're getting your parishioners. It's the good thing. You're getting
the parishioners on the Medicaid which they already paid for,
which they already paid for, right with a reserve to
make their life better, to improve their quality of life
while they're on this side of the Great Divide. And

(18:51):
then when they have passed, the extra goes to the
church to support what the toddler program or the drug
program more than whatever it is. Yeah, they can specify
or can just go to the general fund. So how
many churches do you think have these? Nobody hardly. And
that's why you know, I spent my Saturday at the

(19:14):
leadership some of the New Tabernacle, Uh Tabernacle Church. Because
because why because New Life Tabernacle, I should say, because
why because they've got people who could really use it.
They're losing their houses, they're losing their life savings all
the rest of it doesn't in the church, of course,

(19:36):
like everybody who's trying to serve other people these days, right,
can you can you use an extra dollar to help
somebody out? Yes? Can you spread the ministry further if
you've got more? Of course, right? And the fact that
the fact that right that at the end of the day,
the church been Oh that's horrible, the church benefiting. It's like,

(19:57):
what are you talking about. In the meantime, the person
gets the bet quality of life, they can see where
their stuff is going. There aren't going broke, more dignity,
more respect better. It's just this is what I'm talking about.
You do one good thing and the consequences multiply. There's
no question about that in my opinion. You've been listening

(20:18):
to the David Carrier Show. I'm David Carrier, your family's
personal attorney.

Speaker 1 (20:24):
David's got the how too you're looking for Just call
seven seven four twenty four, twenty four. This is the
David Carrier Show.

Speaker 2 (20:33):
Well, welcome back to the David Carriers Show. I'm David Carrier,
your family's personal attorney. Yes, where We're gonna work all
day anyway. Six one six seven seven four twenty four
twenty four. That's sixty one six seven seven four twenty
four twenty four. That's the number to call if you
would like to get your question, comment or concern on
the air. So about what? Well, I really don't care. Hey,

(20:58):
you know what I just found out. I don't know
about you, but I didn't realize that coffee breath was
a thing. Did you realize that? Like, yeah, I heard
an ad. It's like, oh my god, not if you
have coffee breath? Oh, it's like, what do you think
keeps me going? Holy caw? If I've been offending everybody

(21:21):
with my coffee breath, It's like, what am I supposed
to do now? Anyway? Six one six seven seven four
twenty four twenty four. My coffee breath will not bother
you because it's radio. There you are, And if it
was TV, I suppose it wouldn't bother you either. What
if we get that smell of vision? You ever hear
that smell of vision ever becomes a thing? I have

(21:45):
to worry even more about my coffee breath. Oh, well,
you know it's getting harder and harder. Hey, we've got
aj from Grand Rapids on the line. Hello, AJ, Welcome
to the David Carrier Show.

Speaker 3 (21:57):
Hi David. I don't smell your breath.

Speaker 2 (21:59):
You don't have coffee breath, do you?

Speaker 3 (22:01):
No? I don't.

Speaker 2 (22:02):
Okay, all right, good, I think I think you get
that cappuccino breath.

Speaker 3 (22:09):
I wish I did. I need I need another hit
of that this morning. I am both the power attorney
and the executor for my uncle, and I have a
couple questions. Uh. He has a will. Yeah, obviously I'm
the executor, but he has Uh. He's a military veteran.
He has two brokerage accounts, about two hundred grand in each,

(22:33):
and in each of those his brother and his sister
are the beneficiaries. He has a checking he has a
checking account, uh, and monthly net that goes into the
checking account is about five grand. That's the military pension
and his Social Security. My question is, and he's got

(22:55):
a pod on that and that's again his brother and
his sister. I'm wondering, as executor, if he passes away,
how do I pay he he's in assisted living, and
how do I pay that? For example, if he pays
and he still has if he dies and he still

(23:16):
has debt to the nursing home as well as other debts,
because those the broker's accounts and the checking both are
going by by beneficiaries, and my uninformed understanding is that
they're not part of the estate. He doesn't and he
doesn't own anything else. He doesn't have a car, he

(23:38):
doesn't have a home. I just don't know. I don't
know what happened. These people are entitled to be paid,
but I don't know if his broker's accounts and his
checking accounts can be sources for that. After he's dot.

Speaker 2 (23:55):
Right, So what's the what's is this living setting you back?
Right now?

Speaker 3 (24:00):
I'm sorry, the assisted leving?

Speaker 2 (24:02):
What is it? Yeah? What is he paying out per month?
Right now?

Speaker 3 (24:06):
Right now? It's sixty grand? Sixty yeah?

Speaker 2 (24:15):
Now how much a month?

Speaker 3 (24:17):
Oh, I'm sorry, that'd be five grand a month essentially, okay, checking?

Speaker 2 (24:24):
Yeah, okay, So so money and money out right, So
that's good. I mean, that's amazing, and that's good. Uh
and so steady as she goes, and you're right, I
mean the pay on death now, don't don't don't be
thinking that because I'm being positive here that there's nothing
to do. But starting off, he's in a good shop
he's in good shape, right, because we're not. We're not

(24:47):
burning through his his other resources. Now where that might
let's let's talk about things that will definitely happen and
things that might happen. Things that will definitely happen is
at some point he's going to die, and when he dies,
then the money will go to his brother and sister.
The problem is his brother and sister, I'm guessing, are

(25:09):
his contemporaries in terms of age and what you see happen, right, right,
So what you see happen a lot is people who
are older and a sibling passes, and now they get
one hundred thousand dollars. Yeah, well, they were already on
medicaid because they needed to care themselves or they were
about to be. And now the money just you know,

(25:33):
burns up. See you later, okay, and no net benefit
to brother and sisters. So we just wasted, in my view,
we just wasted a couple hundred thousand dollars. Now there's
so so, what what we would like to do is
get And this is true of any any inheritance or
gift or whatever you're given to somebody else. The worst

(25:55):
thing you can do is what everybody does, which is
to just give it to him because you don't know,
especially with inheritances, because you don't know what's going on.
You don't know what kind of situation they're going to
be in. And if they're your age in the eighties
or what have you, then you can be pretty sure. Right,
that's seventy percent of the time anyway, they're going to
be needing long term care. And now that money will

(26:18):
just delay or or delay or prevent their qualification for
the Medicaid. Okay, what if instead? And this is what
we do every single time, one hundred percent of the time.
We always wrap an inheritance in the trust. It's a
third party discretionary trust. You'd probably be the trustee. Sorry,

(26:38):
you know, I get more work to do. But right
for aunt and uncle, for the other aunt and uncle, okay,
And that money is now off the table, off limits, okay,
because it wasn't their money to start with, right, Their
brother set it up so that good nephew can pay
out the one hundred thousand to them for extras in

(27:01):
addition to whatever debts they may have, whatever nursing home
care they may have, whatever. Okay, Now that money is
available for them and can actually provide a benefit instead
of just putting off the moment when they're going to
be on the Medicaid with zero resources. Okay, so that's

(27:21):
definitely at some point he's gonna die. This is going
to go to brother and sister if they're still alive,
aunt and your other aunt uncle, And let's do that
in such a way that we're not causing any harm,
but we're actually ensuring a positive benefit to them. So
that's what. Now here's something that might not.

Speaker 3 (27:41):
For Medicaid though.

Speaker 2 (27:43):
I mean, that's what I'm going to talk about next.
All right, Yeah, that's what I'm gonna talk about next.
Because the definite thing is he's gonna die and he's
and with a transfer on death pay, on death beneficiary designations,
the money goes to ant uncle without any thought, without
any judgment, without any plan. It just boom here you go. Hey,

(28:06):
I'm in a nursing home on the Medicaid. You just
wrecked my Medicaid, right, and now I got to just
spend one hundred thousand n till that's gone, and now
I got to get back on the Medicaid. Whereas the
way I'm proposing it is, Hey, I'm in the nursing home.
I'm on the medicaid. My brother just died. My good
nephew has control of one hundred thousand, and he's going

(28:28):
to use that one hundred thousand to get me a
private room, to make sure I get more than one
shower per week, to make sure that my laundry goes
out instead it goes into the big kettle. And maybe
I get my clothes back, and maybe I don't. You know, hint, hint,
you won't get your own clothes back. All right, So
now that money is actually doing good, right, it's actually

(28:52):
providing what he wanted it to provide, which was something
good for his brother and sister. Yay, all right now,
and we're counting down here, Okay, So I'm not going
to be able to get to all of it in
this segment. If you want to hold on through the news,
that'd be great, because that now that's definite. He's going
to die and the money's going to go somewhere. And

(29:13):
all I'm saying is we should be intelligent, we should
be purposeful, We should be intentional about where the money goes,
because it's much more beneficial, right under all circumstances, if
we do that first, right, so then when it goes
you know, how old is your uncle? Anyway? If I
could ask one hold ninety one? Okay, well listen, you

(29:37):
don't get to be ninety one and have two hundred
thousand dollars if you didn't make like a million billion decisions,
right that got you to this point. Oh, I'm not
going to do that. I'll get the dollar thirty eight
hot dog at Sam's cub instead of dollar fifty at Costco.
You know, I'll take the senior coffee at McDonald's. You
know what I mean. He did a lot of stuff

(29:58):
to be ninety years old, ninety one years old and
still have two hundred thousand dollars, And now we're gonna
blow it out the window because and it's not even
going to benefit brother and sister. No, we put a
little intentionality behind it, a little planning, dare I say? Right,
and now that money can really benefit brother and sister.

(30:19):
So that's for sure, that's what I would consider absolute
because he's gonna die and we're counting on them living
longer than him, you know, I mean, obviously that's an
assumption too, but I mean that's the that's the highlight
now when we get back, because they're going to start
the music here, any second narrative. When we get back,
we're going to talk about what happens if he himself

(30:39):
needs skilled nursing care right and needs medicaid for himself.
And I'll tell you how we're going to do that too.

Speaker 3 (30:46):
Okay, thank you.

Speaker 2 (30:48):
Okay a Jay, thank you, and we'll be we'll be
right back. All right. You've been listening to the David
Carrier Show. I'm David Carrier.

Speaker 1 (30:57):
David's perking and working and taking your call. Now. This
is the David Carrier Show.

Speaker 2 (31:05):
Welcome back to the David Carrier Show. I'm David Carrier,
your family's personal attorney. We're talking with aj whose uncle
has about five thousand a month of income. He's ninety
one years old, he's in assisted living. He's got two
hundred thousand with transfer on death pay on death beneficiary
designations to aunt and uncle. And the question is what

(31:26):
about first uncle's debt debts when he dies, which course,
if it's a beneficiary designation, that's not going to go
through probate, and we're going to deliver the money directly
to aunt and uncle. And what I say is that's
not a good idea, not because the debt thing, but
because not because of the dead thing, but because if

(31:49):
your brother is ninety one years old, chances are you're
in the vicinity and delivering a big chunk of cash
to somebody who's older like that. You know, it's seventy
When you're sixty five, you have a seventy percent chance
of three years of skill care. Well, the older you get,
you know, people die, and the percentage goes up when
you're in your eighties, let alone your nineties. I mean,

(32:11):
it's like everybody needs skill care, I mean, just the
way it is, and dumping one hundred thousand dollars on
brother and sister is not going to help the thing
because it's just available to the Medicaid. What if you're
wrapped it in a trust, and this is what we
do for all beneficiaries, not just people at age, but
absolutely for people at age. You wrapping in a trust

(32:32):
that's off limits to their bill collectors, it's off limits
to the Medicaid, it doesn't count. So that was number one.
Because at some point brother's gonna die. We can count
on that. We're assuming that aunt and uncle, the other
aunt and uncle are still alive, right, and I would
rather them not just turn money over to long term care. Okay,

(32:52):
so that's how we're going to protect them. Now, what
about uncle? Because he's in assisted living now, he's ninety
one years old. Is there a possibility that he himself
will need skilled care? And I'm gonna I'm not going
to address the Home for Veterans or anything else. Just
forget about that for the time being, although that's relevant

(33:13):
what we would do at that point. Okay, if he
needs skilled care. And now you're talking thirteen to five
a month at the Oaks, you're talking five point fifty
a day at Porter Hills, you know it. Just it's
very expensive as the point, and the question is how
are we going to pay for that? And I've got
two hundred thousand. Great, I'll just spend the two hundred thousand.

(33:35):
Then when he's broke again, then I'll apply for the medicaid.
And certainly you could do that, and that is, no question,
very popular. Let's go broke, all right and then look
for medicaid. But it doesn't have to be that way.
So here's what I mean by that. I take the
two hundred thousand, right, and I and this is a

(33:57):
calculation that has to be done. Okay, always say if
you figure half, But he's got five thousand a month,
so it's going to be better than that coming in.
So for him, it's probably going to be more like
sixty sixty, you know, two thirds probably what we can save.
And what we do is we actually give that money

(34:18):
away by putting it into a divestment trust. It's going
to be for aunt and uncle eventually, right, but we
give it away. And now your uncle has a penalty period.
Medicaid will not pay for him for six months. Let's
just say I'm just pulling numbers out of the air.
The calculation don't work exactly like that, but let's just
say for six months, Medicaid will not pay for him. Okay,

(34:41):
it's going to more likely be about a year. So
for about a year, Medicaid is not going to pay.
But that's okay, because you know he's at I need
six thousand a month in addition to his income. That's
eleven thousand. But forget about the numbers. The point is
I'm gonna make that extra money. The difference between what

(35:02):
it costs at the nursing home to do private pay
right and his income. So it's twelve thousand a month
at the nursing home right for long term care, he's
got five thousand coming in. I need to come up
with eight thousand dollars a month. I'm going to take
the extra money and put it into an annuity which
will pay out that much money over the next however

(35:26):
long it is, so the nursing home gets paid in full.
I'm all about, let's get the nursing home paid in full.
But the point is that at the end of the
whatever period of time it is, several months, whatever it is. Okay,
at the end of that period of time, I've got
one hundred and twenty thousand dollars over here in this
divestment trust, and he's on the Medicaid because I paid

(35:51):
through the penalty period. Okay, I don't mean to be
getting too obstruse with this, but the point is that
there's no reason to give up when you've got a
couple hundred thousand. Now you as nephew, you've got one
hundred twenty thousand or so, let's just say you got
one hundred twenty thousand to supplement what Medicaid will pay

(36:12):
for Uncle. The first of all, and then when he passes. Now,
I've got one hundred and twenty. It's not two hundred thousand,
but I've got one hundred thousand anyway leftover for other
aunts and uncle, right, and if they need long term care,
they will qualify for the medicaid and you'll be able
to get them the private room, the shower more than

(36:33):
once a week, wear your own clothing, go on the
field trips, you know, whatever it may, whatever it may
happen to be. Okay, So that's there's no reason for
giving up here. Okay, you have a great opportunity right to.
And which future is gonna show up? I don't know.

(36:56):
Maybe he dies tonight, I don't know. Maybe he dies
five years from now. I don't know. Maybe he never
needs skill care. I don't know. Maybe the aunt and
uncle died before. I don't know. I don't know any
of that stuff. But all those things are possibilities, and
with the same basic plan, you can account for all
of them. You can take them all in. Right, so

(37:18):
that the two hundred thousand that he dedicated, the decisions
he made to have two hundred thousand at this time
of life. Okay, we're myriad lots of them. Okay, let's
honor that. Let's honor that by making sure that his
life is as best as it can be. He gets
the highest possible level of care and that his brother

(37:39):
and sister do as well. And a little bit of
planning makes that possible. And that's what I'm talking about. Okay,
So don't give up. I mean, there's all kinds, there's
really really good stuff that can be done. But you
see what will happen is people in your situation frequently,
you know, come to see me when they come to

(38:01):
see me when the when the money's gone, you know,
when you get ten thousand left, and what can you
do for me? Now? It's like you're well, Geeper said,
I wish you were here before. But you know, here's
what here's what we got to do. Right. So that's
the that's.

Speaker 3 (38:17):
The thing, all right, thank you, I appreciate.

Speaker 2 (38:20):
SoJ Hey, you're very very welcome. The point is, there's
so much good that can be done, so much good
that can be done. We just got to do it
and uh, and you'll be fine. Okay, you've been listening
to the David Hey, you bet you but but you
know that that's really true. It's like people will wait

(38:40):
until like the absolute last minute, and then at that
point then we'll we'll get it done. And you know,
if you come to see me a year or two ago,
we could have saved we could have saved more. And
and the thing about all this is, oh, that's all
legal stuff. Yeah, confusing, I know, I know, but look

(39:02):
they make it confusing. I didn't make it confusing. I
just sorted out right. And there are very good things
that you can do. That's my point. Even listening to
the David Carrier Show, I'm David Carrier, your family's personal attorney.