Family Future Needs

Insurance is not "a one size fits all". My goal is to help families to be better prepared for whatever the future brings!

lcx.gwglife.com 02/12/2019

GWG Life Endorses Federal Legislation Allowing Seniors to Use Life Insurance Proceeds for Long-Term Care Costs Tax-Free; Potential Law Would Save Billions for Taxpayers, Improve Quality of Life for Millions of Seniors – LifeCare Xchange by GWG Life

https://lcx.gwglife.com/gwg-life-endorses-federal-legislation-allowing-seniors-to-use-life-insurance-proceeds-for-long-term-care-costs-tax-free-potential-law-would-save-billions-for-taxpayers-improve-quality-of-life-for-mi/

lcx.gwglife.com GWG Life Endorses Federal Legislation Allowing Seniors to Use Life Insurance Proceeds for Long-Term Care Costs Tax-Free; Potential Law Would Save Billions for Taxpayers, Improve Quality of Life for Millions of Seniors December 13, 2018

nytimes.com 02/01/2019

If You Do Medicare Sign-Up Wrong, It Will Cost You

https://www-nytimes-com.cdn.ampproject.org/v/s/www.nytimes.com/2019/01/31/business/medicare-enrollment-how-to-sign-up.amp.html?amp_js_v=a2&_gsa=1#referrer=https%3A%2F%2Fwww.google.com&_tf=From%20%251%24s&share=https%3A%2F%2Fwww.nytimes.com%2F2019%2F01%2F31%2Fbusiness%2Fmedicare-enrollment-how-to-sign-up.html

nytimes.com When signing up for the health coverage, timing and coordination are everything. Here are key points to remember, especially if you are working past age 65.

aarp.org 09/23/2018

How to Maximize Social Security Survivor Benefits

https://www.aarp.org/retirement/social-security/info-2018/social-security-survivor-benefit-options.html?cmp=SNO-ICM-FB-AO-SP&socialid=1760713653&kenshooID=161455220

aarp.org Thousands of widows and widowers leave money on the table each year. Jane Bryant Quinn answers five questions to help you get the most from your benefits.

[10/09/17]   Medicare Open Enrollment Starts on 10/15/2017 - Ends 12/07/2017

Original Medicare DOES NOT cover 100% of your medical expenses.
If you are keeping Original Medicare you are also required to enroll at least on a Prescription Drug Plan!

Things to consider when making a choice between a Medicare Supplement Plan or a Medicare Advantage Plan.

Monthly Budget: Remember that Medicare Supplement Plans are pretty amazing, some plans have no networks to worry about and very few limitations.
Plan F & G are very similar in coverage with the exception of Plan G does not cover your $183 yearly Part B deductible. Rates for Plan G are lower than F.
Medicare Supplement Plans RATES DO increase with age.

The most common complaint from most seniors is the increase in premiums and as we consider these type of plans remember the older we get, usually we have other needs, so look into your budget before making your choice.
Also remember you will also need to enroll on a stand alone Prescription Drug Plan (PDP). These Plans will run between $19-$75 per month plus your prescription copays.

Medicare Advantage Plans are the most cost efficient way to manage your care. You DO NOT lose your Medicare or Medicare rights!
Most Plans have very affordable monthly premiums, some have none! Most Plans include Prescriptions at no extra monthly premiums.
These plans also set a maximum out of pocket expense. I call it "worse case scenario" Once you reach your maximum out of pocket for the year, you are done spending money unless your doctor orders procedures not covered by medicare.

Unlike regular medical insurance, Medicare Advantage Plans have very small deductibles or no deductibles at all!

Most of these plans DO have networks. PPO Plans can give you the freedom to see doctors out of the network but at a higher cost.
Some people fear HMO plans because they remember when it was so difficult to get a referral.
Technology and the Internet has changed that! Most referrals are done the same day (if your primary doctor's office staff does their job right)
Look at the strength of the company and their network.
You can compare plans and they may seem exactly the same BUT if their network is NOT strong, what good is it to you?

Also, visit: ssa.gov to see if you qualify for a discount on your prescription drugs or possibly for the Medicare Savings Plans.

Health: The best time to join a Medicare Supplement Plan is during your Initial Enrollment Period - Most companies offer a guaranteed issue - If you leave a plan to return to a Medicare Advantage Plan or Original Medicare + a Stand Alone Prescription Drug Plan (PDP) and years later you wish to go back to your Medicare Supplement Plan you will need to go thru underwriting and will need to answer medical questions. You do run the risk of denial if your health has drastically changed for the worse.

Medicare Advantage Plans DO NOT require underwriting.

Also if you have developed End Stage Renal Disease (ESRD) and are currently on a Medicare Advantage Plan or a Supplement, stay where you are!

DO ASK for an agent to sit and visit with you. As I tell my clients, I do earn a commission and I will earn a commission for as long as they remain in the plan, so it is to their best interest I get paid, a happy client makes a very happy agent!

[09/23/17]   Medicare Open Enrollment is starting soon!
I am here to help!

09/05/2017

d2k7766kmw4j3n.cloudfront.net

Life is full of surprises - Some pleasant, some sad!
Be diligent, be prepared.
Most people wait until late in life to take the necessary steps to protect themselves and their family.

Life Insurance is no longer just "death insurance". Life Insurance can protect you while you are living by providing income when you need it most! In the event of a chronic illness, critical injury, terminal illness, long term care or when you reach retirement age. Tax free!!

It is a safe and secure way to put your money to work for you without the worries of market volatility.

If you have money, just sitting in your bank, doing nothing, earning nothing! It is time for you decide to put your lazy money to work for you, not for your bank!!

http://d2k7766kmw4j3n.cloudfront.net/videos/47612_37fd6f32be5f1b904784693d8d522acc21b592e5_14981489531498148957.mp4

[05/24/17]   The more Medicare families I help, I realize that way too many people are not taking the necessary steps for retirement. It doesn't take a lot of money to take those first steps. It takes discipline!

It is very easy to ignore or put it off for later. The sooner you start, the greatest impact you will have in your future.

Call me! I can help!

04/11/2017

United Health Care Agent Mixsy Ramirez | Medicare Agents Houston TX |My UHC Agent Houston TX | Insurance | Healthcare | English and Spanish Speaking UHC Agent

My new United Healthcare Website:

http://myuhcagent.com/mixsy.ramirez

myuhcagent.com Mixsy Ramirez is your local professional UnitedHealthcare Medicare Solutions Representative in Houston TX. UnitedHealthcare® Agent Mixsy Ramirez is here to give you the resources, tools, and coverage you need to have the best health care experience possible, English and Spanish Speaking UHC Agent

[04/09/17]   Just updated my website:

familyfutureneeds.com

[11/22/16]   I FOUND THIS INFORMATION VERY VERY HELPFUL:

Always refer to an attorney who specializes on Elderly Law!!


What is a Lady Bird Deed?

March 17, 2014 by Rania Combs 13 Comments

A “Lady Bird Deed” is another name for an enhanced life estate deed, which allows a property owner to transfer property at death without the necessity of probate. It is nicknamed “Lady Bird” because many people think that President Lyndon B. Johnson conveyed some land to his wife using this type of deed, although there is no evidence that actually happened.

HOW DOES IT WORK?

An enhanced life estate deed allows a property owner to transfer a remainder interest in a home to the ultimate beneficiaries, but reserve a life estate (a right to occupy and use the property during his or her lifetime) and the right to sell or mortgage the property, or change the remainder beneficiaries at any time. If the owner dies without revoking the transfer, the property passes outright to the remainder beneficiaries without the need for probate.

HOW IS AN ENHANCED LIFE ESTATE DEED DIFFERENT THAN A TRADITIONAL LIFE ESTATE DEED?

With both the enhanced life estate deed and the traditional life estate deed, a property owner transfers a remainder interest in the property to the ultimate beneficiaries and retains a life estate. However, a property owner using a traditional life estate deed does not reserve the right to sell or give away the land without the consent of the remainder beneficiaries. The enhanced life estate deed allows the property owner to reserve those rights.

BENEFITS OF ENHANCED LIFE ESTATE DEEDS

Enhanced life estate deeds offer many advantages over traditional life estate deeds:

They provide homeowner the flexibility to change the remainder beneficiaries at any time.
They allow the homeowner to sell or mortgage the property without the consent of the remainder beneficiaries.
They protect the property from the creditors of the remainder beneficiaries during the homeowner’s lifetime.
Because the owner of the property retains the right to take back the property during his or her lifetime, the transfer will not count as a gift for federal gift tax purposes. A transfer of a remainder interest with a traditional life estate deed may trigger gift taxes if the value remainder interest in the property is greater than the annual gift tax exclusion.
They preserve the homeowners ability to immediately qualify for Medicaid benefits. Transfers of assets within a “look-back” period may disqualify applicants from immediately qualifying for benefits. However, executing an enhanced life estate deed is not considered a transfer for Medicaid purposes because the homeowner retains the right to sell the property or revoke the deed.
BENEFICIARIES RECEIVE A STEPPED-UP BASIS

Because property will remain a part of the grantor’s estate, the cost basis of a property transferred using an enhanced life estate deed would be “stepped-up” to the value of the house on the date of death. This may significantly reduce the amount of capital gains taxes owed when the property is sold.

POTENTIAL PROBLEMS WITH USING ENHANCED LIFE ESTATE DEEDS TO TRANSFER PROPERTY

I worked with a client recently whose mother had executed an enhanced life estate deed transferring a remainder interest in her property to her children.

The property was mortgaged, so after her death, the children contacted the mortgage company, a large bank, to assume the mortgage. Employees of the assumption department, who were based overseas, were not familiar with enhanced life estate deeds and suggested that the conveyance may have triggered the mortgage’s due-on-sale clause. I was able to point them to the federal law that prohibits mortgage companies from enforcing due-on-sale clauses when property is transferred to the borrowers children or spouse. Eventually, someone from their legal department took over and the matter was resolved in my client’s favor.

I’m sharing this experience because if there is an outstanding mortgage on the property, and the property is not being deeded to a spouse or child, there is a chance that the mortgage company could claim that a conveyance with an enhanced life estate deed triggered a due-on-sale clause. Due-on-sale clauses allow the lender to declare the entire balance is due immediately if ownership of the property is changed. Violation of the contract may be grounds for foreclosure.

Would it matter if the property had been transferred to someone other than a spouse or children. I don’t think so. Federal law prohibits the lender from exercising the due-on-sale clause when someone inherits a piece of property. The mortgage company may argue that the deed caused a change in ownership when it was signed. However, since an enhanced life estate deed is completely revocable and modifiable, it can be argued that the beneficiary’s interest would not vest until after the homeowner dies. Nevertheless, to avoid any problems, you should check with your lender, and confirm in writing that they will not invoke the due-on-sale clause if you plan to to transfer the property to anyone other than a spouse or child.

Additionally, some title companies who may not be accustomed to seeing enhanced life estate deeds may be reluctant to insure a title transferred in this way without the remainder beneficiary joining in the transaction during the life of the life tenant or when the remainder beneficiaries wish to sell the property after the death of the life tenant. However, not all title companies will refuse, especially as more people use enhanced life estate deeds.

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COMMENTS
Carol says:
May 19, 2015 at 1:43 pm
What happens if the sole beneficiary in the ladybird deed (my client’s son) dies before the grantor (his mother) dies? Will my client then file a revocation and/or make a new ladybird deed to her remaining son? Or can she go ahead and provide in the ladybird deed that, if that son dies, her other son owns the property? There is no mortgage company.

REPLY
Rania Combs says:
May 19, 2015 at 1:56 pm
It is important that the deed address what should happen to the property if the Grantee dies before the Grantor. If the deed creates a contingent remainder interest, the Grantee dies before the Grantor, and the Grantor does not take any action, then the disposition of the property will be governed by the Grantor’s Will. It is possible to draft the deed to specify that if the Grantee is not then living, full record title shall vest in a contingent beneficiary.

REPLY
Deborah Pack says:
November 1, 2015 at 4:49 pm
Where can I get this deed?

REPLY
Rania Combs says:
November 2, 2015 at 10:32 pm
You should contact your attorney for assistance.

REPLY
Samira says:
November 11, 2015 at 3:24 pm
My mother executed an Enhanced Life Estate deed transferring her property to me. Due to her illness she hasn’t paid the property taxes for the last few years. Tax office postponed the taxes but the penalty and interest is adding up! What will happened to the taxes after her death? We both are living in the property and there is no mortgage.

REPLY
Rania Combs says:
November 16, 2015 at 12:46 pm
Property conveyed by an enhanced life estate deed is typically passed subject to any outstanding liens against the property, as well as all valid restrictions, easements, and other encumbrances as they appear of record.

REPLY
Rania Combs says:
December 31, 2015 at 7:19 pm
The conveyance is subject to any outstanding liens against the property, whether existing or to be created by Grantor in the future, and all valid restrictions, easements, and other encumbrances as they appear of record.

REPLY
Martha says:
February 19, 2016 at 1:08 pm
Can you name the trustees of a joint trust as the beneficiary of an enhanced life estate deed or does it have to be individuals?

REPLY
Rania Combs says:
February 26, 2016 at 6:03 pm
Yes. It is possible to name the trustees of a joint trust as the beneficiary of an enhanced life estate deed.

REPLY
Tracee says:
March 25, 2016 at 10:25 am
Can a Lady Bird Deed be done after the person is on Medicaid?

REPLY
Rania Combs says:
June 16, 2016 at 8:04 am
Yes.

REPLY
jason says:
April 7, 2016 at 3:23 pm
If the house with a lady bird deed is sold and the grantor is still living are the proceeds subject to Medicaid taking them away? Thank you so much.

REPLY
Rania Combs says:
June 16, 2016 at 9:06 am
Please don’t take any action without consulting an elder law attorney about the ramifications of selling a home subject to the Lady Bird deed. Under current rules, Medicaid can only recover assets included in the deceased individual’s probate estate. The Lady Bird deed is a means of transferring the home to it’s intended beneficiary outside of probate.

[03/04/16]   I am looking for Life Insurance Agents in the Galveston - Texas City Area.
Inbox me - If you are not offering pre-need, you are not fully providing a complete line of products to your families. Inbox me - Let's talk!!

[02/25/16]   Added the Spanish side of the site today. Check it out!
Agregue el lado en espanol de mi sitio. Visitalo!

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