Protecting your assets from probate and long-term care : don't let the system bankrupt you and your loved ones Cover Image

Book

Protecting your assets from probate and long-term care : don't let the system bankrupt you and your loved ones / Evan H. Farr.

Summary:

"Have you ever considered the advantages of creating a living trust? In order to help readers protect themselves from both probate and long-term care, Farr delves into the many details one should know when setting up a living trust. He also outlines his Living Trust Plus Asset Protection Trust, which is the only type of self-settled asset protection trust that allows a settler to avoid probate and retain an interest in the trust while also protecting the assets from being counted by state Medicaid agencies. His chapters detail the many subjects involved in the process of avoiding probate and securing assets, including: Joint ownership problems; Special needs planning; How to pay for the nursing home; Why Medicaid planning is ethical; The ten most common Medicaid myths; Finding the right lawyer"--Page 4 of cover.

Record details

ISBN: 9781621535539
ISBN: 1621535533
Physical Description: viii, 193 pages ; 21 cm.
Publisher: New York, NY : Allworth Press, [2017]

Content descriptions

Bibliography, etc. Note:

Includes bibliographical references and index.

Formatted Contents Note:

The problem of probate -- The problem of long-term care -- Are wills the solution? -- Joint ownership problems -- Problems with beneficiary designations -- Estate and incapacity planning -- Special needs planning -- What is a nursing home? -- What is long-term care? -- Discrimination against chronic illnesses -- The caregiver's role -- Selecting a facility -- Nursing home evaluation tool -- How to pay for nursing home care -- What does Medicare cover? -- Why Medicaid planning is ethical -- Long-term care insurance -- Veterans aid and attendance -- Medicaid basics -- The ten most common Medicaid myths -- Preneed Medicaid planning -- Frequently asked questions about Medicaid -- Medicaid asset protection basics -- Real-life case studies -- Medicaid crisis planning -- Finding the right lawyer.