| Protecting your assets from
the costs of long term health care is my primary
mission. More than half of all Americans will
spend sometime in a nursing home. The average
monthly cost of a skilled nursing facility
in Connecticut is approximately $8,000 per
month. At this rate it would not take long
for you or your loved one's to exhaust their
assets that they have accumulated over a lifetime.
Depending on the circumstances,
I will often recommend that the client's
assets be transferred to an irrevocable
grantor trust. One important advantage of
an irrevocable trust is the assets are protected
from the creditors of the grantor and the
creditors of the grantor 's beneficiaries.
The assets cannot be transferred to the
beneficiaries without the grantor's approval
and will remain secure in the name of the
trust until the death of the grantor.
Medicaid planning can be
very complicated; since many factors such
as: capital gains, the cost of the grantor's
present and future needs, transferee liability,
penalty periods and lookback periods must
be considered simutaneously.Since I specialize
in medicaid planning and deal with the medicaid
laws on a daily basis, I will be able to
guide you through the planning and application
stages while helping you to preserve the
greatest amount of assets permitted by federal
and state law.
Contact me for an initial
consultation. I will analyze the specifics
facts of your situation and recommend a
strategy that will best meet your goals. |
