Medicaid Planning

As we age, the exorbitant cost of long-term care is, by far, the greatest risk to one's financial security. From hiring a home-health aide, to paying for assisted living facilities or nursing home care, five years of long-term care can easily cost between $200,000.00 and $600,000.00 - which will completely decimate the life savings of most Americans. Most people don’t realize that Medicaid is available to pay for long term care expenses. Even fewer know that one can legally and ethically qualify for Medicaid before going broke! This book was written by a Florida elder law attorney and includes an overview of Medicaid Planning, with chapters devoted to: - The Medicaid Income and Asset Tests - Countable vs. Non-Countable Assets - What is a Qualified Income Trusts (Miller Trust), and when is one needed? - How to Protect Your Home (or sell the house and still be Medicaid eligibility) - Clarifying the 5-year look back period (no, you shouldn't have to wait 5 years to engage in Medicaid Planning) - Personal Services Contracts (Caregiver Agreements) - Special Needs Trusts - How to minimize or avoid Medicaid estate recovery - other lesser-known Medicaid Planning techniques The book will explain how to take someone with too many assets and qualify them for Medicaid. It will also explain how to protect one's Medicaid eligibility after receiving a sudden influx of assets (such as from a personal-injury settlement or after receiving an inheritance). Given the amount of misinformation being disseminated about Medicaid, and who is able to obtain those long-term care benefits, this guide (written by a Florida Medicaid lawyer - https://www.elderneedslaw.com/ - for the benefit of non-lawyers) seeks to provide clear steps to enable you to understand how you can tap valuable resources in order to care for yourself, your spouse, or your elderly loved one.

Estate and Retirement Planning Answer Book (2009 Edition) provides expanded coverage of financial and estate planning strategies for implementing individualized solutions for the special problems associated with retaining accumulated wealth for retirement and estate planning purposes. With its comprehensive two-part approach to the complex issues that link retirement planning and estate planning, Estate and Retirement Planning Answer Book (2009 Edition), includes coverage of such topics as the final minimum distribution rules for individual retirement accounts and qualified plan distributions, the use of insurance as a qualified plan asset, and changes in the law to reflect the latest legislation.

The official guide for exam success and career excellence Financial Planning Competency Handbook, Second Edition is the essential reference for those at any stage of certification and a one-stop resource for practitioners looking to better serve their clients. This fully updated second edition includes brand new content on connections diagrams, new case studies, and new instructional videos, and a completely new section devoted to the interdisciplinary nature of financial planning. You'll gain insights from diverse fields like psychology, behavioral finance, communication, and marriage and family therapy to help you better connect with and guide your clients, alongside the detailed financial knowledge you need to perform to the highest expectations as a financial planner. This book contains over ninety chapters that are essential for practitioners, students, and faculty. Whether a practitioner, student, or faculty member, this guide is the invaluable reference you need at your fingertips. Comprehensive, clear, and detailed, this handbook forms the foundation of the smart financial planner's library. Each jurisdiction has its own laws and regulations surrounding financial planning, but the information in this book represents the core body of knowledge the profession demands no matter where you practice. Financial Planning Competency Handbook, Second Edition guides you from student to practitioner and far beyond, with the information you need when you need it.

Without proper, strategic planning for Medicaid qualification, the sad reality is that already cash-strapped families will face enormous hospital and nursing home bills on behalf of loved ones in need, and they will likely lose everything in the process. Lets face it: Most of us have no vast fortune to fall back on when a medical crisis strikes a loved one. As a result of poor planning, the real tragedy accordingly occurs when entire family legacies are stripped away - sometimes within a few short months or even weeks - because an elderly loved one falls into the zone of nursing homes and exploding hospital costs for catastrophic care. As a highly qualified Medicaid Planning Specialist of more than 15 years, I have run into this type of tragedy time and again. Yet, I have never lost the passion to prevent it, given enough time for advance planning, or to stop the Medicaid destruction cycle in mid-stream.

A comprehensive guide to understanding Medicaid and nursing home costs that provides legal advice on protecting personal assets, state and federal laws regarding nursing care facilities, and information on wills and trusts.

Winner of the 2022 Textbook & Academic Authors Association′s The McGuffey Longevity Award Aging: Concepts and Controversies is structured to encourage a style of teaching and learning that goes beyond conveying facts and methods. This innovative text focuses on controversies and questions rather than on assimilating facts or creating a single "correct" view about aging or older people. Drawing on their extensive expertise, authors Harry R. Moody and Jennifer R. Sasser first provide an overview of aging in three domains: aging over the life course, health care, and socioeconomic trends. Each section then includes data and conceptual frameworks, helping students to make sense of the controversies and understand their origin, engage in critical thinking, and develop their own views. The Tenth Edition of this hallmark textbook includes amplified discussions focused on differences, diversity, structural inequalities, and inclusion, as well as contemporary issues, including climate change and immigration. Included with this title: The password-protected Instructor Resource Site (formally known as SAGE Edge) offers access to all text-specific resources, including a test bank and editable, chapter-specific PowerPoint® slides.