KEEP YOUR FAMILY HAPPY AFTER A DIVORCE
WITH THESE CO-PARENTING TIPS
• Separating Emotions From Behaviors Negative emotions about your ex-spouse should never affect your actions, especially in front of your children. Arguing in front of your kids will harm them emotionally. • Avoiding the Temptation of Venting to Your Kids Prevent complaints from reaching your children’s ears. Instead of voicing negative comments about your ex-spouse to your child, you should vent to a friend or counselor.
After any divorce, if you have lingering feelings of resentment or anger toward your ex- spouse, co-parenting might seem incredibly daunting. Yet, it doesn’t have to be a bitter relationship between you and your ex. While it does take two to tango, and each parent needs to put in the effort, there
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Letting Everyone Have a Say While you may always want to be in charge, you should allow your ex-spouse to participate in your children’s daily lives. Maintaining Respect Think of co-parenting as a business relationship where disrespect is never allowed. When you remain respectful, you can avoid heated conflicts.
are ways to ensure you create the best possible family environment for your children. While co-parenting may be challenging, don’t be discouraged. We’ll share why co-parenting is essential and tips for healthy co-parenting. HOW CO-PARENTING AFFECTS KIDS The American Psychological Association found that children who spent time with both parents after a divorce experienced fewer emotional and behavioral issues and were as well-adjusted as children whose parents never divorced. The following co-parenting tips can help prevent conflicts so you can focus on caring for your children.
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While it may be difficult, proper co-parenting can ensure your child feels loved by both parents. When done with your children’s best interest in mind, this will boost their confidence and help them better acclimate to the divorce. Their well-being should always be both parents’ top priority.
Long-Term Care Is Expensive Comprehensive estate planning is about much more than what happens to your assets after you die. Many of us will need additional care as we age, so a competent estate planning attorney will strongly encourage you to prepare for your future. While many overlook long-term care planning, it can ultimately determine your quality of life. provide answers for individuals who do not meet Medicaid’s monthly income threshold. member. The grantor cannot access any of the trust funds. Funds in the Trust can only be used for specific, qualified expenses, which your attorney will list in the Trust documents. QUALIFIED INCOME TRUSTS CAN HELP SOLVE THE INCOME PROBLEM
In Tennessee, the 2023 eligibility limit for an individual’s monthly income is $2,742 per month. A Qualified Income Trust (also known as a Miller Trust) can help individuals who exceed the permittable monthly income threshold for Medicaid qualification. A Qualified Income Trust is a trust consisting of the individual’s income. Income placed in a valid Qualified Income Trust will be treated as unavailable with federal Medicaid standards. The amount of income placed in a Qualified Income Trust cannot be limited, nor can it be counted when testing income for Medicaid eligibility. For example, a person with a $4,000 monthly income may be able to have the excess $1,258 transferred directly to the Qualified Income Trust to be eligible for Medicaid. Qualified Income Trusts follow strict rules. They must be irrevocable, and the grantor (the person creating the Trust) must appoint a trustee to manage the funds. The trustee is usually a trusted friend or family
If the grantor meets Medicaid eligibility requirements, most of the funds in the Qualified Income Trust generally reimburse Medicaid for long-term care. However, trustees can also use the funds to pay for insurance premiums, a spouse’s financial needs, and a small personal allowance. The beneficiary of the Trust will usually be the state of Tennessee or the grantor’s long-term care facility upon their death. Qualified Income Trusts can be a highly beneficial tool for families that need help with long-term care expenses, but the guidelines leave no room for error. Mistakes can affect your Medicaid eligibility in the future, so you should always consult a qualified estate planning attorney. Douglass & Runger has extensive Medicaid planning experience. Call us at (901) 388-5805 to learn how we can help.
Long-term skilled nursing care can cost individuals anywhere between $7,000–$12,000 monthly (depending on the facility), and Medicare and Social Security will not cover these expenses. At these rates, the cost of care for an individual at a skilled nursing home can easily drain everything they have worked our entire lives for. Since few families can afford the price of long-term care, they frequently turn to Medicaid, which has strict financial limitations concerning applicants’ total assets and monthly income. These public resources are intended for genuinely needy people, but the requirements leave many middle-class families in a bind. They’re too well-off to receive public assistance and not well-off enough to cover the costs themselves. This article is intended to
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