The Medicaid Squeeze Can Be Reversed
The Medicaid Squeeze The intricate maze of Medicaid Planning confuses even seasoned professionals if they don’t focus on this type of planning in their daily practice, and it’s easy to find differing opinions. Accountants cringe when told to liquidate an IRA because they’re used to minimizing taxes. Bankers gasp when told to liquidate or just […]
Mom Needs Help… What Do We Do?
Basic Long-Term Care Options While Medicaid and Long Term Care Planning are often focused on preserving money, at least for the families who speak with me. But the overall process has to be about more than just assets and income. Unfortunately, many professionals push those aside and focus only on the money without sufficient emphasis […]
The Advanced Institute is Back
My Presentation Was On Medicaid Planning. The Estate Planning Source, an organization I have been affiliated with for many years, has undergone some challenges lately in addition to the COVID issues facing every other business. With the purchase of the business finalized in May by long-time employee Bobbie Setser, the organization is holding its first […]
Anatomy of a Destroyed Estate Plan
Estate Plan Destroyed How do you destroy your own well-crafted, strategically created, solid estate plan in one move? In this podcast, I cover how one of our most airtight estate plans explicitly drafted to benefit a grandson with special needs ended up being placed in jeopardy… because the clients decided to perform their own DIY […]
The High Cost of a “Free” Medicaid Plan
There are so many myths, folk remedies, and outright falsehoods surrounding Medicaid qualification for nursing home care that it becomes impossible to list them all. Unfortunately, it becomes easy for people to look online for the simple answers they want to hear rather than researching and understanding a much more complicated truth. And going to […]
Three Reasons NOT to Gift Real Estate to Children
[From time to time, it’s good to readdress important topics and so we will rerun past articles. With the real estate market heating up, it was time to bring back an article on reasons not to gift property to your children.] Reasons Not To Gift Real Estate With the rising cost of long-term care, families […]
Government Long Term Care Insurance?
Do I need long term care insurance? The cost of long term care is ever-rising. For 2021, The Genworth Annual Cost of Care Survey pinned the national average cost of a private room in a skilled nursing facility at $9,034. Even worse, the same study projects the same room and care will average $12,141 ten […]
Medicaid DOES Care if you Gift $16,000
[Below is a reprint of a previously published article, but the situation keeps coming up, especially when it comes to Medicaid qualification for seniors. While gifting can be part of an overall Medicaid Planning strategy, there are specific consequences that need to be planned and timed properly. There is NOT a free $16,000 a year […]
Doesn’t A Revocable Trust Protect Against a Medicaid Spend Down?
A Revocable Trust does not help protect against a Medicaid spend down. It’s an important distinction. In my practice, we use Revocable Trusts for the avoidance of probate as an estate planning tool, NOT as a long-term-care planning tool.
What You Need to Know About Open Enrollment
Jeff speaks with Elizabeth Gholson of IPA Family about Open Enrollment, which runs from November 1, 2015 through January 31, 2016.