Law Office of Paul Black - June 2019

Law Office of Paul Black - June 2019

404.410.6820

www.Georgia-EstateLaw.com

June 2019

Is a Time for Planning A TIME OF SUNSHINE

June is a month of transition. Caught between two seasons, it reminds me that life is never stagnant. When spring rains give way to our balmy Georgia summer, and the days once again become shorter and shorter, I can’t help but reflect on moments of change like this. After all, accepting this change has everything to do with planning for the future. For example, most of us will be enjoying the sunshine this month, and we should! As an avid lover of our state’s natural beauty, I relish the chance to get

Many people who come to our firm are in the early summer of their lives. Plenty of turbulent weather may lie ahead, and winter will come eventually. Understandably these individuals want to enjoy their sunshine years, and they should! But they should also give themselves the peace of mind that they have a plan for when the seasons shift. My job is toughest when people trick themselves into believing in an endless summer. They may accept that their time on this earth is limited but fail to see how the lives of those around them may change.

are right now. But what if his son’s job requires him to move out of state? What if his daughter’s children decide college isn’t for them? This is why I don’t believe in a “perfect plan.” Just like nature, the needs of our loved ones and our relationships with them change over time. It’s as inevitable and unpredictable as a summer storm. But by putting in the work now, while it’s still sunny out, you can create a plan with the flexibility to meet these changing times. The garden where my fiancée and I are getting married this July is a perfect example of the kind of planning I believe in. It’s filled with a huge variety of flowers, but they don’t all blossom at once — there’s no “perfect” time of year to visit. Instead, the kinds of flowers are varied according to the different seasons, so no matter what time of year it is, something will be in bloom. Happy gardening,

outdoors and enjoy the fresh air. But I also take time in June to prepare my home for the shifting weather.

For example, let’s say a man with two adult children comes to me wanting a “perfect plan.” He wants to designate his son, who lives close to home, to be his primary caregiver and inherit the

My fiancée and I just finished cleaning up

our yard. When the extra demands of summer lawn care crop up, we won’t have extra work to do in the hot sun, and we’ll be prepared for any sudden summer storms. This is something I help my clients with all the time — not actual yard work, but planning for an uncertain future.

family home, and he wants his daughter’s children to be the primary beneficiaries of his trust to help them afford college. That sounds perfect — for things as they

-Paul Black

Do you have estate planning or elder law-related questions? Write to me at [email protected] with Asked and Answered in the subject line. Your identity will be kept confidential. The opinions offered in this column are not intended to replace or substitute any financial, medical, legal, or other professional advice.

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WHY SENIORS ARE FLOCKING TO HOME-SHARING PLATFORMS An Opportunity for Easy Money and Social Engagement

The freedom of retirement certainly comes with its perks, but challenges of post-work living exist as well. Chief among them, for most elderly folks, are fears of social isolation and financial insolvency, as having coworkers and a regular income are not as common in retirement. Perhaps this is why so many retirees are flocking to home-sharing platforms like Airbnb or its seniors-only cousin, The Freebird Club. Airbnb reported last year that the 60-plus age bracket is its fastest-growing demographic worldwide, with the number of

you’ll encounter all kinds of people you might never otherwise meet, prompting dynamic social interactions and meaningful connections. The rating systems on Airbnb and similar platforms almost entirely prevent would-be troublemakers from entering your property, and users report that when a rare negative experience does occur, the company typically has your back. It’s a great way to stay socially engaged while staving off loneliness. Best of all, running a modestly successful Airbnb usually doesn’t take much work. It simply requires you to set up a neat, welcoming space, keep in contact with your guests, and ensure the check-in and check-out processes are as straightforward as possible. In fact, senior hosts seem to have a leg up on their younger counterparts, as elderly hosts earn the most consistently positive ratings across the globe. Airbnb and The Freebird Club won’t make you rich, but they’re relatively low-effort enterprises that come with some massive benefits. If you’re looking for a little busywork, some extra cash, and a little social interaction in your retirement, hosting may be your best bet!

senior hosts as much as doubling every year. Home-sharing platforms can be a tremendous boon to a tight retirement budget. It’s an especially attractive option to elderly folks who find themselves rich in assets but struggling with liquid finances. Home-sharing allows them to tap into these resources. According to Priceonomics, U.S. Airbnb hosts bring in a monthly average of $924. But home-sharing can do more than boost your income. By opening a room in your home to travelers,

Asked and Answered: A Legal Advice Column

Dear Paul,

Dear Nervous,

death of the first and the second spouse to die. This is also true of a revocable trust, but a revocable trust is considered available for Medicaid eligibility purposes because you still control a revocable trust. The big drawback of a MAPT is you have to give up ownership and control of property that you put into the MAPT. You should name a trusted third party (often an adult child) as the Trustee. You can’t be named as the beneficiary of a MAPT, but you can continue to live in the property and your property taxes would remain unchanged. MAPT planning is very detailed and impossible to explain in a brief column. Also, it’s not a fit for everyone. Even so, it is one of the

My wife was just diagnosed with Lewy body dementia. We are in our early 70s and otherwise fairly healthy. She wants to live at home with me as long as possible, and our children and I absolutely support that goal. We don’t have a lot of money, but we also don’t have a mortgage on our house and land (about 5 acres total). We want to protect our assets as much as we can before she has to pay for care down the road. What would you recommend?

If you think chances are good that there will be at least five years before your wife has to apply for Medicaid to help pay for skilled nursing care in a nursing home, you should learn more about putting your house into a Medicaid Asset Protection Trust, or MAPT. A MAPT is an irrevocable trust, which means that you cannot easily change its terms down the road. (I say “easily” because Georgia passed a new law in 2018 allowing for judicial modification of an irrevocable trust if all involved parties consent, but that kind of meeting of the minds is far from guaranteed). The first advantage of a MAPT is that any property you put into your MAPT is “off-limits” for Medicaid eligibility determination after five years have elapsed from when you titled the property into your MAPT. The second advantage of a MAPT is that any property you put into the MAPT will avoid probate upon the

most useful and most frequently used tools in situations like yours. As always, I am happy to discuss your particular situation in more detail to help you determine if this kind of approach is a fit for your needs or not.

−Nervous Near Carrollton

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LAWSUITS FROM BEYOND Let’s Hope There’s a Courtroom in the Afterlife

We pride ourselves on being a country where everyone receives a fair trial. And while that’s not always the case, even the craziest claims still have to be heard in some capacity by a court of law. As you can imagine, this can result in plenty of spooky high jinks in the courtroom. Let’s take a look at some of the more baffling court cases in recent memory. DEAD MAN TALKING In something straight out of a Coen brothers movie, a New York man had to sue The New York Times on three separate occasions to get them to stop reporting that he was dead. In all fairness, it seemed like an honest mistake prolonged by the ineptitude of his public counsel and a whole lot of terrible coincidences all rolled into one. Juan Antonio Arias just so happened to share the same first and last name as one “Juan Arias”

who had met his untimely demise. After it was reported in a Times article, the living Arias accidentally had his own date of birth and Social

that the house they’d recently purchased was horribly and cripplingly haunted by unseen forces. The poltergeist

was said to disrupt their daily activity, and the plaintiff was suing on the grounds that the home was notorious in the area for being haunted and had a reputation as such, therefore it should have been disclosed to the buyer before closing. They won.

Security number added to the death certificate of his now deceased namesake in a terrible mix-up from the coroner. As a result, he sued on three occasions after his lawyer missed certain deadlines to turn in proper

documents. Thankfully, the issue was resolved, but not before he had his credit cards and Medicaid revoked after appearing to be dead. SOLEMNLY SPOOKED

That’s right; the court ruled that the seller misled the plaintiff and should have disclosed the nature of this potentially harmful house. Shockingly enough, this type of thing is required to be disclosed when selling a house in New York. Well, at least a buyer will have peace of mind knowing that they got a sweet new pad and a ghoul for pennies on the dollar.

An unnamed New York resident — just what on earth is going on in New York? — claimed

Because miso is fermented, it comes packed with all the important probiotics. As a bonus, it tastes pretty dang good, especially in this umami-packed soup filled with mushrooms and kale. MUSHROOMS AND KALE Miso Soup With

Inspirational MOMENT

INGREDIENTS

• • • • • • • • •

1 splash olive oil

4 oz. mushrooms, sliced 4 cloves garlic, minced

4 cups water

1 cup vegetable broth 3 tbsp yellow miso paste

8 oz. extra firm tofu, pressed and drained

3/4 cup kale

1 tbsp rice vinegar

1. In a stock pot or Dutch oven, heat oil to medium. Add mushrooms and sauté until mushrooms just begin to shrink. Add garlic, water, broth, miso, and tofu. 2. Bring to a boil and let simmer for 5 minutes. 3. Stir in kale and rice vinegar; cook until kale softens. 4. Divide into bowls and serve. DIRECTIONS

Inspired by OneGreenPlanet.org

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INSIDE THIS ISSUE

1

Planning for Summer Sun

2

Why Seniors Are Flocking to Home-Sharing Platforms Asked and Answered Crazy Lawsuits Surrounding the Dearly Departed

3

Miso Soup With Mushrooms and Kale Inspirational Moment

4

Summer Stargazing in Georgia

GEORGIA TRAVELS

STAR LIGHT, STAR BRIGHT

Best Places to Stargaze in Georgia

Do you remember looking at the night sky as a child and feeling a sense of awe? An endless dark sky filled with thousands of twinkling stars is a source of mystery, possibility, and wonder. This summer, take some time to look up at the sky again and spend an evening in the great outdoors. Here are a few great locations for stargazing throughout Georgia. STEPHEN C. FOSTER STATE PARK A world-class destination for stargazers, Stephen C. Foster State Park has been designated as a gold- tier international dark-sky park by the International Dark-Sky Association. This means the park has very little light pollution and offers incredible views of the moon, stars, planets, and comets. As the only gold-tier dark park in the southeast United States, visiting Stephen C. Foster State Park is a must for astronomy enthusiasts. BRASSTOWN BALD The highest point in Georgia is also a good distance from most major cities in North Georgia, which means there’s not much light

pollution on top of Brasstown Bald. Here’s a pro tip: Give your eyes at least 40 minutes to adjust to the darkness, so you can better appreciate the breathtaking views. GEORGIA TECH OBSERVATORY

City lights are public enemy No. 1 to stargazers, but while Georgia Tech is located in the heart of Atlanta, the astronomy department is still able to capture some amazing celestial sights. The observatory is open to the public once a month and events can be found at Astronomy.gatech.edu.

If you’re waiting for the best view to go stargazing, consider planning your trip around these upcoming meteor showers: • Alpha Capricornids meteor shower (peaks July 26–27) • Southern Delta Aquarids meteor shower (peaks July 29–30) • Perseids meteor shower (peaks Aug. 12–13)

Happy stargazing!

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