How to protect your assets from catastrophic illness and Medicaid spend down

How to Protect your Assets

In this post we are going to discuss: How to protect your assets from catastrophic illness and Medicaid spend down. We work with pre-retirees and retirees. We work with pre-crisis and crisis planning. Pre-crisis is before you need In-home care or assisted living care, adult day or nursing home.

Now, one way is by purchasing long term care insurance. I don’t particularly like that type of strategy because, if you have expenses and you never use it, you lose all that money even though there is about a 70% chance when you are over 65 you will need some type of care.

We like using a strategy called asset based long term care.  Let’s say you have about an $100,000 dollars in the bank and you transfer it to an insurance company and the bank is only paying may be 1 to 2%, this company will pay a little bit more than your currently getting at the bank . But, one thing unique about this is 100% liquid but if you go into a nursing home and if you qualify for this plan folks, you can get up to 300,000 dollars of long term care which you can use for In-home care, assisted living care, adult day care or nursing home. If you never use it, guess what? They have a death benefit. It will pay either the hirer of the investment bucket that is growing or the death benefits whichever is hired. So, that is a smart way to self insure and we have many, many other strategy on pre-crisis planning. However,if you are in a situation folks and you haven’t done the planning and you are maybe in a nursing home or about to go into nursing home then we do a lot of Medicaid planning.

Dave Gollner Discusses how to protect your Assets

There is an organization we do business with is called NESA-Nationwide Elder Service Associates, the founder is Hal Fliegelman. Hal is one of the country’s leading authorities on this complex subject and is frequently referred to as Mr. Medicaid.  More importantly, he and the others at NESA have a unique combination of compassion, knowledge and skill that has allowed them to give thousands of people peace of mind by helping them cope with the emotional and financial demands created by a loved one’s long term sickness.

Hal graduated from Brown University with High Honors and from Harvard Law School and Widener Law School, magna cum laude, where he was an Editor of the Law Review. He is frequently consulted about Medicaid Planning by other lawyers around the country and has been recognized for his Medicaid Planning achievements. He publishes widely and often on a variety of Medicaid-related subjects.

We have an online proposal to all pages that we can do for you at no charge, showing you how much money we can protect. Now, everyone has heard about the 5 year look back, the deficit reduction, Title 19, it took back in February, 2006. Now, we have a lady that has 500,000 dollars of assets and guess what folks, we are all here to protect all but 95,000. Even though, her husband who is 81, who has Alzheimer’s and is currently in a nursing home. So, we have strategies in place.

How to protect your assets with Legacy Financial

We can’t protect all the money if you are in a crisis. But as I mentioned, in one of my previous videos between the veterans 8 and 10 program and Medicaid program. We have strategies to help you. We work with experts throughout the country both Pennsylvania, Ohio and all 50 state. So, if you like more information on that or like a DVD on that, you call toll free at 800-264-4963 and I have a the video , oh, it’s actually an audio where I interview Hal Fliegelman who talks all about Medicaid spending and crisis planning. Contact us today to learn how we can help you protect your assets.

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