Attorney Megan L. McCann, partner at the Law Office of Davis & McCann, P. A., Dodge City, Kansas, recently completed a specialized Medicaid planning course focused on solutions for individuals and families. 

The course, offered by Mike Anthony, JD, CMP of Edgentus, covered an extensive review of government benefits provided by Medicaid, the rules and regulations governing those benefits, and specific techniques available to attorneys to assist clients in maximizing the protection of personal assets during the Medicaid application process. Anthony is one of the foremost experts on the subject of long-term care planning in the U. S. He also is the author of the “Medicaid Planning Guidebook,” the largest textbook on the subject of long-term care Medicaid planning.

“As baby boomers enter their advanced senior years, we’ve seen a spike in the need for assistance with long-term care planning and Medicaid applications. It’s our goal to provide affordable, high-level legal care to our clients, without them having to drive halfway across the State to receive the advice they need. We’ve offered more basic long-term care planning services for the past 2-3 years, but we believe advanced training such as this, although a sizable investment for our boutique law firm, ensures we can fulfill that commitment to our clients,” McCann says.

As elder law and estate planning attorneys, Davis & McCann, P. A. provides legal services in the areas of estate planning, long-term care planning, Medicaid planning (advance planning and crisis), and special needs planning, among others. Specialized training in these areas of law is required to provide competent service to clients and ensure proper implementation of legal strategies. The advanced training acquired by Davis & McCann, P. A. will allow them to address more advanced and complicated long-term care plans for their clients. Davis & McCann are members of Wealth Counsel, a national consortium of Estate Planning Attorneys. McCann also is a member of National Academy of Elder Law Attorneys (NAELA), one of the best professional associations that educates and trains lawyers and others on elder law matters and special needs planning.  

In addition to long-term care planning and Medicaid planning, Davis & McCann, P. A. offers services in simple and complex estate planning, business and farm succession planning, business formation, probate, trust administration, real estate and more. The firm represents clients in most of the counties in Western Kansas. 

Aunt Ethel died a few weeks ago. Her remaining assets are fairly modest. Their value doesn’t justify going through the expense of a full probate. What’s the family to do if the beneficiaries still want those remaining assets? How can the assets be transferred to the beneficiaries without costing an arm and a leg?

Enter the Small Estate Affidavit.
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In Kansas, if there is no real estate involved (including minerals) and the personal property of a decedent (a/k/a deceased person) is valued under $40,000, a Small Estate Affidavit can be used to transfer the estate assets to the beneficiaries. Small Estate Affidavits are forms used to grant authority to a person (usually an executor or beneficiary named under a Will or an heir of the decedent) to transfer and take responsibility for a deceased person’s personal property assets. However, if the value of the personal property exceeds $40,000, or if real estate is owned in the estate, a different probate proceeding will be required to transfer the estate assets.

Providing a copy of the following items during the estate planning process will assist your attorney in determining which estate planning options would best match your goals and budget. Similar to a medical professional needing access to your complete medical history, your estate planning attorney must have a complete picture of your asset holdings before he/she can make a good recommendation for your estate plan. In addition to the following list of items, you should inform your attorney if you are a current or future beneficiary of any Trust, a party in a litigation matter, or if you anticipate a substantial inheritance in the foreseeable future.

Current Estate Planning Documents:
• Copies of any currently existing estate planning documents, including any powers of attorney for financial or medical, living wills, Last Will and Testaments and any trust documents.

Bank Accounts:
• Copies of your most recent statements for all checking, savings and money market accounts.
• Copies of certificates of deposit.

Investment and Mutual Fund Accounts:
• Copies of your most recent statements for all investment and mutual fund accounts.

Stock and Bond Certificates:
• Copies of all stock certificates. 
• Copies of all bonds.

Starting a new business is exciting but the decisions you make in the beginning can have long-lasting impacts on your future profitability and success. If you’re ready to start your new for-profit business in the State of Kansas, here are a few basics on the various business entities available to you: 

Sole Proprietorship:
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• Although arguably the least complicated way to set up your business, it also creates the greatest liability risk for the owner.
• No annual minutes are required and no reports or filings, other than income tax filings, have to be made with the State.
• With this form of business entity, the owner is 100% liable for the company debts and obligations.