Michael Gilfix Quoted in San Francisco Chronicle on Medi-Cal Estate Claims
Palo Alto, CA (Law Firm Newswire) September 2, 2014 – Michael Gilfix was quoted in the San Francisco Chronicle regarding unexpected estate claims by Medi-Cal and the ways families can protect themselves.
On August 24, 2014, the Chronicle published an exposé on the recent expansion of Medi-Cal’s little-known estate recovery program. According to reporter Kathleen Pender, the new Affordable Care Act (ACA) has expanded the number of Medi-Cal recipients subject to estate recovery.
Medi-Cal has long conducted a limited program that allows it to claim and recover assets from the estates of some deceased Medi-Cal recipients. However, as Pender pointed out, the ACA’s expansion of Medi-Cal eligibility means that many more recipients over the age of 55 may be subject to Medi-Cal estate recovery. This will likely include a large number of older or retired Californians with well-structured estates but low incomes.
Michael Gilfix, an estate planning attorney and expert on Medi-Cal recovery issues, pointed out that some assets could be protected from such Medi-Cal recovery claims. “There are certain ways to transfer a home out of an estate, although this can raise tax issues,” he commented.
With recovery claims that can range from hundreds of dollars per month up to what Pender calls “unlimited amounts,” the Medi-Cal recovery program can blindside an unsuspecting family and devastate their estate plan. The amount that Medi-Cal claims in recovery is determined by the type of benefits that were received by the deceased person.
According to the Chronicle, there is currently a bill awaiting a vote in the California State Assembly that would roll back some, but not all, of Medi-Cal’s ability to make these estate claims. The bill has been passed by the Senate, but Pender claims that it is uncertain whether Governor Jerry Brown will sign or veto the bill.
Facebook: Like Us!
- Thank You for the Amazing Turnout at Our Estate Planning Seminars!
Gilfix & La Poll would like to thank everyone who attended our recent Asset Protection and Estate Planning seminars in Palo Alto, California. We also would like to thank our good friend, Len Tillem, for being a part of the afternoon session. (We apologize to all who wanted to attend the afternoon session with Len […]
- Gilfix & La Poll to hold living trust seminar with special guest Len Tillem
Attorney Michael Gilfix of Gilfix & La Poll Associates will present a seminar titled “A Unique Living Trust Seminar: How to Protect Family Assets” on October 28 at the Crowne Plaza in Palo Alto, California. Attorney and radio personality Len Tillem has been invited to speak at the event as a special guest during the […]
- A Warning About Ads to “Fix” Your Trust
Dear Friends, You may have seen ads running in the Mercury News and perhaps other media outlets for Trust Seminars presented by a San Diego-based law firm. These specific ads attempt to entice you by promising a “free kindle” and a “free dinner” for those who attend the seminars they are giving while they visit the […]
- Gilfix & La Poll presents estate and long term care seminar at Avenidas Center
On September 10, 2015, attorneys Michael Gilfix and Mark Gilfix of Gilfix & La Poll Associates presented a seminar on living trusts and asset protection in the face of long-term care. The workshop was held in partnership with the Avenidas Senior Center in Palo Alto, California. Titled “Your Estate Planning and Long-Term Care Checkup – […]
- Survey reveals more than one-third of wealthy individuals lack estate plans
The CNBC Millionaire Survey has found that 38 percent of 750 millionaires surveyed have not consulted a financial expert to establish an estate plan. The poll conducted by Spectrem Group for CNBC revealed estate planning was the most prevalent among individuals with investable assets amounting to at least $5 million, with 68 percent having worked […]