7 Important Reasons To Prepare A Trust & Estate Plan
My full estate plan kit contains at least 37 documents or parts. Contact me for full disclosure.
The following information explains the reasons why you should consider an estate plan
HOW TO PROTECT YOU AND YOUR ESTATE:
- From probate (show typical probate file I’ve
- From death taxes (must split H/W assets if over exemption/unified credit so each gets the full credit)
- From guardianship and incompetency problems
- From unwanted life support when irrevocably brain-dead
- From new spouse who may steal assets from you or your spouse (use Q-Tip)
- From improperly stored & preserved titles, deeds, policies, bank & investment records/locations
- From Medicaid denial causing high nursing home expenditures & from improper asset retention and
improper gifting (Legal spend-down to be Medicaid friendly)
You may need to have a Medicaid Asset Protection Plan (M.A.P.). This entails a computerized analysis of your assets and how they should be re-positioned for conservation and safety. (Not risky investment vehicles). This is done by retaining an independent and experienced annuities and investment expert.
- Enable your estate to become Medicaid eligible.
- Legally instruct you how to “spend down” by
re-positioning your assets to become Medicaid
- Teach and train you to avoid, and become familiar with
the 5-year “look-back” rule.
- Teach you about Medicaid’s 5-year “Snapshot”
- Inform you that the $13,000 gift tax exemption is not Medicaid
friendly and is not a legal spend-down.
- Show you how much assets you and your spouse may keep in your own names.
(At home spouse maximum- approximately $102,000.00; In-nursing-home care spouse maximum
income and asset cap is limited to approximately $2,200.00 per month.
- Teach you how to split your cash assets into separate accounts each not exceeding $250,000.00
(F.D.I.C. insurance cap) to provide (as best as possible) government guaranteed protection for each account.
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