Elder Care Attorney, Mindy Felinton encourages readers to have their “sweetheart” wills reviewed and updated to make sure their assets will not be going to unintended beneficiaries and to avoid Medicaid “spend down impoverishment.”
Delray Beach, FL. Feb. 21, 2020: Mindy Felinton, founder of Felinton Elder Law & Estate Planning Centers, has posted a new blog on her law firm’s website entitled “Mom And Dad Unintentionally Made The Nursing Home The Beneficiary Of Their Will,” in which Ms. Felinton explains the importance of reviewing and updating wills regularly.
Felinton writes, “I’ve been practicing elder law for many years, and, believe me when I tell you, the statement that is the title of this article is one I have heard more than once.” She continues, “Wills that were drafted 30 years ago or more, also known as “sweetheart” wills, that have not been updated could be leaving a lifetime of assets to an unintended party.”
As Felinton points out, “I am often asked to review the wills of clients, many of whom are concerned about asset protection to avoid Medicaid spend down impoverishment. Many of the wills I review,” she adds, “are “sweetheart” wills.” She elaborates, “Typically these wills simply leave everything to the surviving spouse. When both spouses are gone, the estate goes to the kids. They are pretty simple and work well for the first 65 years of life when everyone is healthy, and life is humming along.” Felinton insists, “After that age though, when a lifetime of assets have accrued and Medicare and Social Security benefits become part of the equation, most clients really do require trusts and a solid estate and asset protection plan.”
The entire blog can be read at https://www.felintonlaw.com/mom-and-dad-unintentionally-made-the-nursing-home-the-beneficiary-of-their-will/
About Mindy Felinton
From a young age, Mindy wanted to be the voice that would make an impact in people’s lives. She became an attorney and has practiced law for over 30 years, so that she could fulfill her desire to help others. As a special prosecutor, Mindy defended the underdog (literally) in cases of animal abuse. As a state attorney in Florida she fought for justice. During the last 25 years, Mindy met many wonderful people who did not know their rights, did not understand the law, and did not know what options were available.
Mindy assists families with Medicaid planning to help with the cost of nursing home care and with obtaining veteran’s benefits to make the cost of care more manageable. She also prepares wills, trusts, powers of attorney, and medical directives. Mindy is passionate about educating both other professionals and the public concerning VA Aid & Attendance benefits, Medicaid benefits, and the use of trusts for the protection of assets. She shares her experience and professional knowledge through free workshops, and as a frequent lecturer at State Bar Conferences.