Скачать или смотреть Asset Protection St Louis MO Jones Elder Law

At Jones Elder Law we focus on elder law and special needs planning. Our practice is devoted to preparing seniors and the people who love them for the financial, physical and emotional changes that come with growing older, as well as providing sound legal counsel in times of family or economic crisis. This can involve helping you retire comfortably; making sure you receive adequate care should you become disabled or incapacitated; protecting your hard-earned assets for your enjoyment today and that of loved ones in the future; guiding you through the confusing Medicaid system in a crisis situation; and many other issues.

Our goal is to provide you with the peace of mind that comes from having a plan in place for the future, as well as a trusted advisor in times of crisis.

Practice Areas include:
Disability Planning
Elder Law and Medicaid Planning
Estate Planning and Administration
Special Needs Planning: ( Alzheimer's, Parkinson's, Multiple Sclerosis )
Veterans Benefits

Jones Elder Law
Stephen C. Jones
Offices in Illinois and Missouri
IL 618-466-8466 or MO 636-812-2575
3005 Godfrey Road, Suite B, Godfrey, IL 62035
28 Bronze Pointe, Suite A-2, Swansea, Illinois 62226
500 Chesterfield Center, Suite 355, Chesterfield, MO 63017
Phone: IL 618-466-8466 or MO 636-812-2575

What if I sell my home and other assets to my children for a dollar? Is that ok?

Stephen: Well, Charlie we get that a lot and what people tend to think is after they have chatted with us for a while, they fixate on the word “gift,” and so they think, “Oh! I’m gonna be penalized if I make a gift.” What they miss out on is the remainder of what we’re saying - and that is transfers for “less than fair market value.” So the state and the Medicaid agencies long ago figured out that people would quit making gifts, and they would make sales that would just be for a lot less than fair market value. So the state has the absolute right to come back and say you need to prove the value of that asset. So if you can prove that your asset has the value of one dollar, then that’s going to work. If you can’t prove that, then you’re going to be penalized for the difference between the fair market value of what you transferred and whatever you received. So by and large, those sales to your children and your loved ones for a dollar, they really don’t do any difference than if you just gift it to them outright.

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