Fong Law Group

知名藝人遽然離世, 突顯資產規劃重要

最近，一位知名藝人的離世震驚了全球華人社群。知名演員大S（徐熙媛）的驟然離世，不僅讓娛樂圈和粉絲震驚，也引發了人們對遺產規劃重要性的討論，特別是在家庭關係和子女監護的層面。

遺產規劃不僅僅是富人的事

許多人認為只有超級富豪才需要進行遺產規劃，但事實上，無論資產多寡，若無妥善規劃，任何遺產——不論大小——都可能成為法律糾紛、財務管理不善以及家庭爭端的中心。大S的離世讓我們看到，婚姻、離婚、生育等重大人生事件都應促使我們重新檢視自身的遺產規劃。

離婚與過時的遺產計劃風險

大S於2010年與商人汪小菲結婚，育有一子一女。然而，兩人在2021年離婚，並因此涉及子女監護權的問題。離婚後，如果沒有及時更新遺產規劃文件，可能會產生嚴重後果。例如：若前配偶仍然是人壽保險或退休帳戶的受益人，他可能會繼承這些資產，而不是其他指定的繼承人。若離婚前所立的遺囑未更新，可能導致前配偶仍然擁有資產的控制權。以我個人經驗為例，我的一位客戶的丈夫去世後，她發現丈夫的保險受益人仍是前妻，因為他在離婚後從未更改受益人，導致保險金最終被前妻繼承。這再次強調了遺產規劃需要與時俱進。

台灣法律對遺產分配的影響

據媒體報導，大S的遺產估值約為新台幣10億元。如果她沒有立遺囑，根據台灣的《繼承法》，她的現任丈夫將繼承一半，剩餘的一半將由兩個孩子繼承。然而，如果她立有遺囑，她則可以自由分配資產，例如將更多的遺產留給子女。此外，大S的現任丈夫具俊曄公開表示，他將放棄繼承權並將其份額轉讓給大S的母親。然而，根據台灣法律，如果他放棄繼承權，他的份額將自動歸於大S的子女，而非其母親。在美國也是如此，繼承人可以放棄繼承權，但無法指定遺產的最終去向。若具俊曄希望大S的母親獲得資產，他需先接受遺產再進行贈與，這將帶來巨額稅務負擔。因此，如果希望資產傳承給父母，應在遺產計劃中明確指定。

子女監護與資產控制權

由於具俊曄並未正式收養大S的兩個孩子，因此汪小菲很可能會獲得孩子的監護權。這將帶來一個重大問題：如果孩子繼承了大S的全部遺產，因未成年無法直接管理財產，監護人（即汪小菲）將代為管理資產。換句話說，大S的前夫將間接掌控她的遺產。如果大S生前立有遺囑，她本可以指定現任丈夫為子女的監護人，確保她的資產由她信任的人管理。然而，在沒有遺囑的情況下，前夫可能會掌握她全部的遺產。正如我在講座中常說的：「如果你沒有遺產計劃，最不希望獲得你財產的人，最終可能會成為財產的掌控者。」

美國與台灣的遺產規劃差異

在美國，如果去世者無遺囑或信託，且沒有合格繼承人，財產將歸政府所有。因此，設立信託至關重要。此外，遺產計劃應包括兩類文件：

生前文件（如財務與醫療授權書）

身後文件（如遺囑與信託）

信託相較於遺囑更具優勢，因為遺囑需經過「遺囑認證」（probate），這是一個漫長且昂貴的法律程序。在加州，遺產認證費用通常約為遺產總價值的4-5%。例如，若房產價值100萬美元，遺產認證費用可能達到5萬美元。此外，法院計算遺產認證費用時，是根據總價值而非淨值。例如，若房產總值100萬美元但仍欠銀行80萬美元貸款，法院仍會以100萬美元計算費用，而非淨值20萬美元。

信託的重要性

使用信託而非遺囑的另一個好處是隱私保護。遺囑屬於公開文件，債權人可透過法院查閱並索賠，而信託則屬私人文件，無需對外公開。此外，遺囑必須經法院批准才能執行，這使其更容易引發爭議，而信託則可直接生效，減少訴訟風險。

遺產規劃應與時俱進

許多人制定遺產計劃後便置之不理，但財務狀況變化、搬遷或家庭結構變動時，應定期檢視和更新遺產計劃，以確保其仍然符合自身意願。

為孩子建立遺產計劃

遺產規劃不僅關乎金錢，還涉及價值觀的傳承。像大S這樣對文化具有影響力的人，可以透過信託確保子女獲得教育資源，並在適當的價值觀引導下成長。她的離世提醒我們，人生無常，應提前規劃，以確保親人能夠得到妥善照顧。

結論

大S的案例強調了遺產規劃的重要性，特別是對於家庭結構較為複雜的人來說，及早規劃不僅能確保資產順利傳承，也能避免不必要的糾紛。透過周全的遺產計劃，每個人都能為摯愛的家人提供保障，確保自己的遺願得以實現。

Selling Your Life Insurance Policy to Help Cover Expenses

The National Council on Aging reports that more than 16.5 million adults 65 and older experience economic insecurity, with incomes below 200 percent of the federal poverty level. Rising housing and health care bills can burden seniors on fixed, limited incomes.

Life insurance is an asset that many older adults have. According to Vital Life, 57 percent of Americans aged 65 and older have life insurance policies. In 2019, life insurance companies paid beneficiaries $78.4 billion and supplied $88.1 billion in annuity benefits, per Forbes.

While the purpose of a life insurance policy is to provide for beneficiaries, some older adults may consider selling their life insurance policies, allowing them to use a portion of the policy’s value to cover their expenses.

How Life Settlements Work

When you sell your life insurance policy, you can receive a life settlement. This allows you to obtain money to cover your expenses. The payment will be less than the full amount of the cash benefit. The average life settlement ranges from 10 percent to 25 percent of the full benefit, according to Smart Asset.

In return for the payment, an individual or company becomes the new policy owner. The new owner is responsible for paying all premiums and receives the full payment upon your death. Once you sell your life insurance, you are no longer responsible for paying the premium, but any intended beneficiaries can no longer benefit from the policy.

Once you have entered into an agreement in exchange for a life settlement, you no longer own the policy, and your loved ones will not be able to obtain payment when you pass away.

Reasons People Sell Their Life Insurance for a Life Settlement

Obtaining a life settlement allows you to capitalize on your life insurance policy now, helping you pay for your expenses, such as medical bills and long-term care.

If you are at risk of lapsing on payments, selling the policy allows you to avoid forfeiting it entirely. When you receive a life settlement, you will get more than if your policy lapsed or you surrendered it. Keep in mind, however, that many policies have grace periods for lapses in payment. Before giving up your life insurance policy, check with the policyholder to find out how much time you have to pay your premium before losing coverage.

Life settlements can also be beneficial if you no longer need a life insurance policy. For instance, if your spouse was your intended beneficiary, but your spouse passed away before you, you may no longer feel you need the life insurance policy.

Considerations When Selling Your Life Insurance Policy

While selling your life insurance could help you cover your expenses, it may not be the best choice for everyone. Your age, health, and the terms of your policy can all affect how much you will receive from a life settlement. Consider the following before making a decision:

• Before agreeing to a life settlement, contact your insurer to learn about all of your options under your policy.
• Speak with a life settlement broker or life settlement provider. The broker can help you shop around and find the best settlement offer. Brokers typically charge 8 percent and must disclose their fees upfront. You may want to ensure that the broker has a license in your state.
• Consider alternatives to a life settlement, such as taking out a reverse mortgage on your home or using the cash value of your insurance policy as security for a loan.
• Take time to review your outstanding debts. Creditors may attempt to take your life settlement.
• Speak to a tax professional about the tax consequences of acquiring a life settlement. You will likely have to pay taxes on the amount you receive.
• Take into account how the life settlement could affect whether you are eligible for government benefits, such as Medicaid. The settlement could constitute an asset that disqualifies you.
• The individuals who would have otherwise benefited from your life insurance policy may need to sign off on your life settlement. This is a requirement of some life settlement providers.

Consult With Your Attorney

If you are considering selling your life insurance policy, consulting with your attorney is essential. They can help you determine whether a life settlement could benefit you. This can also assist you in identifying alternative strategies allowing you to maintain your policy and afford care.

Medicare Part B Premiums, Deductibles Going Back Up in 2024

In 2023, seniors were happy to see their Medicare Part B standard monthly premiums and annual deductibles go down for the first time in more than a decade. Unfortunately, that’s not the case for 2024, when these charges will be back on the rise.

In the fact sheet it released about the updated numbers, the Centers for Medicare & Medicaid Services (CMS) outlined the following changes for 2024:

Medicare Part B Changes

Medicare Part B enrollees will pay a standard monthly premium of $174.70 come 2024 (up $9.80 from $164.90 in 2023). (Note that beneficiaries who have higher incomes typically have a higher premium.)

The Part B annual deductible is rising to $240 in 2024 (an increase of $14 from $226 in 2023). Part B enrollees must cover all costs until they meet this deductible; Medicare then pays for most of the remaining fees.

Medicare is a federal health insurance program for seniors and people with qualifying disabilities. Medicare Part B specifically focuses on covering such services as medically necessary visits to doctors, outpatient medical treatments, ground ambulance transport, and preventative care, including vaccines. 

Updates to Medicare Part A Charges

The deductible for Medicare Part A will also see a slight increase, about 2 percent, from $1,600 in 2023 up to $1,632 in 2024. Note that most people end up paying no premium for Part A because they (or their spouse) paid Medicare taxes throughout the years they were employed.

Part A relates to medical care in institutions such as inpatient hospitals and skilled nursing facilities, in addition to other settings. If you’re an enrollee and are admitted to a hospital, Medicare Part A will pay for your expenses for the first 60 days, after you pay your deductible. If you go to a skilled nursing facility, Part A covers the first 20 days. After that, you’ll have the following co-pays:

• Co-payment for hospital stay, days 61 to 90 = $408 per day in 2024 (up from $400 in 2023)
   
• Co-payment for hospital stay, days 91 and beyond = $816 per day in 2024 (an increase from $800 in 2023)
   
• Co-payment for skilled nursing facility, days 21 to 100 = $204 per day in 2024 (up from $200 in 2023)

Medicare Open Enrollment

Each fall, from October 15 to December 7, Medicare’s Open Enrollment Period takes place. During this time, you can enroll in a plan or make changes to your existing plan.

Medicare Extra Help Program Set to Expand in 2024

Seniors and disabled citizens will receive more access to the Medicare Extra Help Program as of the beginning of 2024, the federal government announced. This expansion of benefits could enable up to 3 million people to reduce their prescription drug costs.

What Is the Medicare Extra Help Program?

The Medicare Extra Help Program assists older adults and people with disabilities who have trouble paying their Medicare Part D premiums. Note that you are automatically eligible for Extra Help if you:

• receive Medicaid coverage,
• are enrolled in a Medicare Savings Program, or
• receive Supplemental Security Income.

The program was expanded through the Inflation Reduction Act, which President Biden signed in August 2022, by increasing the income limit to 150 percent of the poverty level ($21,870 for an individual and $45,000 for a family of four). When the program expands at the beginning of 2024, 300,000 participants will go from partial to full benefits. That means they will not have to pay a premium or deductible, and they will have lower, fixed co-payments on certain medications.

Expanding Access to the Program

The government estimates that nearly 3 million people who could benefit from the program are not currently enrolled. The Department of Health and Human Services will activate government agencies to increase participation. The Administration for Community Living will reach out to underserved and rural communities, while the Centers for Medicare and Medicaid Services will provide an outreach toolkit for community organizations and beneficiary advocates.

Those who participate in the Medicare Extra Help Program could save nearly $300 per year.

Where Do I Apply for Extra Help?

To apply for Extra Help, you can visit the Social Security Administration’s dedicated webpage for more information, support, and an online application.

Should you omit your children’s names in your trust if you don’t want to leave anything to them?

 

如果不想留財產給子女，應否在信託剔除子女的名字?

如果不想留財產給子女，應否在信託剔除子女的名字

Savings for Seniors: Lower Medicare Part B Premiums in 2023

For the first time in more than 10 years, Medicare Part B enrollees will see some of their costs decline. In an announcement issued by the Centers for Medicare and Medicaid Services (CMS), the agency outlined changes to the premium, deductible, and co-payment amounts for numerous Medicare costs taking effect in 2023.

• Medicare Part B basic monthly premium = $164.90 = Savings of about $62 for the year
   
• Medicare Part B annual deductible = $226 = Savings of $84 for the year
   
• Other amounts, meanwhile, will rise slightly in 2023:
   
  • Medicare Part A deductible = $1,600 (up from $1,556)
  • Co-payment for hospital stay, days 61 to 90 = $400 per day (up from $389)  
  • Co-payment for hospital stay, days 91 and beyond = $800 per day (up from $778)
  • Co-payment for skilled nursing facility, days 21 to 100 = $200 per day (up from $194.50)

Note that beneficiaries with higher incomes pay higher monthly premiums. For further details, read the news release from CMS.

If you wish to make changes your coverage, Medicare’s Open Enrollment Period will take place October 15 through December 7. 

Comparing Traditional Medicare and Medicare Advantage

Recent research by the Kaiser Family Foundation examined the differences between traditional Medicare and Medicare Advantage. While people in either program were similarly satisfied with their care and overall care coordination, some distinctions became apparent.

Traditional Medicare’s Strengths

Traditional Medicare is a federal health insurance program for adults 65 and older and individuals with disabilities. Medicare Part A covers hospital fees, Part B applies to medical expenses, and Part D involves prescriptions.

The Foundation reviewed 62 studies released since 2016. The research findings revealed the following:

• Beneficiaries of traditional Medicare were more likely to receive cancer care in higher-quality hospitals.
• They also tended to get superior care in skilled nursing facilities and home health agencies compared with their Medicare Advantage counterparts.
• Traditional Medicare recipients may be less likely to have problems related to expenses.

Findings on Benefits of Medicare Advantage

Medicare Advantage is an alternative to traditional Medicare. It offers plans encompassing Part A hospital fees, Part B medical expenses, and Part D medicine. In some cases, the cost of Medicare Advantage can be lower, but not always. Privately owned companies contract with Medicare to provide Medicare Advantage.

According to the study:

• Some research indicated that Medicare Advantage had slightly better preventive services, providing increased access to routine health checkups, screenings, and vaccinations.
• Patients with Medicare Advantage were more likely to have a consistent health care provider.
• Medicare Advantage had lower hospital readmission rates, received more information during care transitions, and had more favorable experiences getting prescription drugs.

Switching Rates

The researchers looked at the rates at which people switched programs as a way of understanding program dissatisfaction. Medicare Advantage had a higher switching rate relative to traditional Medicare. Yet both had a low turnover, possibly suggesting that people tended to be satisfied with both programs.

Switching from Medicare Advantage to standard Medicare was more common among:

• people of color
• residents of rural areas
• those eligible for both Medicare and Medicaid
• individuals who experienced a health impairment that affected their daily functioning

Cost Issues

Beneficiaries of traditional Medicare reported higher rates of cost difficulties than enrollees in Medicare Advantage. Yet recipients of conventional Medicare with supplemental coverage had the lowest rates of expense complaints overall.

Seek Professional Guidance

Since each plan’s benefits and drawbacks can depend on individual circumstances, consider speaking to your elder law attorney before enrolling. They can explain the differences between these programs and help you plan for retirement.

What Are Medicaid Asset Protection Trusts?

Medicaid imposes strict rules on how much money and assets an applicant can have. To qualify for Medicaid, you must fall under the asset limit, which is $2,000 in most states.

Even with greater than $2,000 in assets, however, you may be able to get on Medicaid by establishing a Medicaid Asset Protection Trust (MAPT). When you put your assets in a MAPT, Medicaid will not count the money in the trust toward its resource limit.

Using Medicaid Asset Protection Trusts to Transfer Assets

After you create a Medicaid Asset Protection Trust, you no longer own the assets within it, allowing you to qualify for Medicaid following the five-year lookback period. People who are currently healthy but plan to go on Medicaid in the future might choose to use this Medicaid planning strategy.

It is essential to understand that MAPTs are irrevocable: Once you make the trust, you cannot change your mind and take those assets back. Your trust must be irrevocable for you to qualify for Medicaid because it means that you no longer own or control these assets.

In contrast to MAPTs, many types of revocable trusts, such as family trusts, are often ineffective in preparing for Medicaid. Having the power to revoke your trust would allow to retain control over your assets, and Medicaid would count the contents of your trust as part of your resources.

Creating a Medicaid Asset Protection Trust

Three parties are involved in a MAPT: the grantor, the trustee, and the beneficiary. When you make a trust, you become the grantor, the person who places assets into the trust. The trustee manages the trust, and the beneficiary — or beneficiaries — will receive your assets.

If you want your MAPT to ensure you qualify for Medicaid, you must name someone other than yourself or your spouse as the beneficiary. Designating yourself as the beneficiary would mean giving yourself assets, which Medicaid would count toward its asset limit.

You can, however, select your children or parents as beneficiaries. Using a MAPT, you can also make sure they get those assets when you pass away.

What Can You Place in a Medicaid Asset Protection Trust?

As part of your Medicaid planning strategy, you can place many types of assets in a MAPT, including:

• Checking and savings accounts
• Stocks and bonds
• Mutual funds
• Certificates of deposit
• Real estate that is not your primary residence
• In most states, your home

Although many states allow you to place your home in MAPT so that it will not count toward Medicaid’s resource limit after five years, Medicaid regulations vary by state. In Michigan, for example, placing your home in a MAPT will not prevent it from counting toward the asset limit.

Benefits and Drawbacks of Medicaid Asset Protection Trusts

Medicaid Asset Protection Trusts offer several benefits to individuals planning to apply for Medicaid:

• MAPTs preserve generational wealth, safeguarding assets for family members.
• After you pass away, the state cannot take your assets from your beneficiaries to reimburse them for your long-term care, as MAPTs avoid probate.
• Since nursing home fees can be exorbitant, MAPTs can save your family money, as they let you qualify for Medicaid once the lookback period has ended.

The drawbacks of MAPTs include the following:

• Once you establish a MAPT, you forfeit the control and use of your assets. If you need money, you will not be able to draw from the trust.
• The fees associated with preparing a MAPT can be costly, ranging from $2,000 to $12,000.

Speak with your attorney to learn about how using a Medicaid Asset Protection Trust could help you plan for your future.