Attorney, Sean Patrick Cox
Sean Patrick Cox has been an Elder Law Attorney for over 15 years. He was admitted to the State Bar of Michigan in 1994, and the State Bar of Florida in 1995. He received his Bachelor's Degree from Michigan State University in 1989 and his law degree from Michigan State University College of Law in 1994.
Veterans Benefits
Sean concentrates his practice on Veterans Benefits with a particular emphasis on a
V. A. Program called The Aid and Attendance Improved Pension Benefit. Wartime Veterans and their surviving spouses or widows are eligible for a tax-free pension benefit from the Veterans Administration.
- Two veterans, married can receive $2,540 per month
- A married Veteran can receive $1,949 per month
- A single Veteran can receive $1,644 per month
- A surviving spouse/widow of a Veteran can receive $1,056 per month
Sean understands that the primary goal is always to keep the senior at home as long as possible. Sean can create a care contract that will allow a senior to pay a family member or friend to care for them at home by using the tax free veterans pension. These funds can also be used to pay for a professional home health care provider or an assisted living facility/community.
Medicaid/Nursing Home Planning
Sean will protect senior citizens from losing their assets, income, life savings, real property, stocks, and other financial assets to a nursing home. Sean guarantees that he will protect between 95% to 98% of the assets of a married couple with appropriate planning using irrevocable trusts, quit claim deeds, and special spousal annuities. Single seniors can look forward to having at least 60% and up to 100% of their assets preserved.
If planning is done ahead of time within the appropriate time frame, all clients, married or single, can have all of their assets protected.
Estate Planning
Sean also provides estate planning for all individuals of any age. He can provide plans for people with small or large estates. It is important for everyone to have an estate plan.
The beneifits of a Will and Trust include:
- Quick and private asset transfer at death without the expense of probate
- Financial savings in estate tax if the estate is over the tax exemption amount
- Control over who handles personal affairs if incapacitated
- Transition without the need for a conservator or guardian
- Strategies available for financial savings in nursing home costs
The estate plan can include:
- Will
- Living Will
- Simple Will
- Pour Over Will
- Power of Attorney
- Durable Power of Attorney
- Springing Durable Power of Attorney
- Designation of Patient Advocate
- Patient Advocate
- Durable Power of Attorney for Health Care
- Living Trust
- Revocable Trust
- Revocable Living Trust
- Family Trust Agreement
- More Complex Estate Planning
- Family Limited Partnerships (FLIPs)
- Qualified Personal Residence Trusts (QPRTs)
- Grantor Retained Annuity Trusts (GRATs)
- Self-canceling Installment Notes (SCINs)
- Private Family Trust Companies
- Private Annuities
- Planning for Medicaid Qualification, including "Special Needs" Trusts
- "Incentive Trusts" to provide for "value-conscious" wealth transfers
- Formation of Family Foundations
- Gift Tax Return Preparation
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