My question is I am a single person 75 years old with an annuity that pays me monthly. Should I now put the annuity in a trust for my two grown children. Am I understanding this correctly? The only other assets I have is my home and a car. I guess what I’m wondering is if I should just do a simple well? Or a trust I am so confused. I live in Las Vegas Nevada. Would really appreciate some guidance here as to what I said set up a straightforward well, or a trust. Any information you would give me would be very much appreciated.
It appears that the only 2 ways of preparation to avoid Medicaid from taking your assets is either become a multi-millionaire or be able to afford LTC insurance :(
Two more ways: 1. If you never save anything during your life, then you are good to go, free government cash. 2. You do save and transfer your assets into an appropriate trust before its too late. Let a small portion of the taxes you paid over your life of hard work come back and help you out when you need it.
Why don’t you answer the questions.
He never does. I'm going to guess the answer is no
My question is I am a single person 75 years old with an annuity that pays me monthly. Should I now put the annuity in a trust for my two grown children. Am I understanding this correctly? The only other assets I have is my home and a car. I guess what I’m wondering is if I should just do a simple well? Or a trust I am so confused. I live in Las Vegas Nevada. Would really appreciate some guidance here as to what I said set up a straightforward well, or a trust. Any information you would give me would be very much appreciated.
Is life insurance protected from from medicaid
How does this effect a single person, no relatives. Money used for my care
Question: If the "immediate annuity" is for the life of both spouses, how does Medicaid count it? As income for the primary annuitant?
Thanks...that was great information! I'm going to listen to it several times.
Nothing is safe from my nursing home I will take everything even if you have a trust
You're harsh
You will take everything? Shame on you.
Very informative.
I learned a lot.
Once again, great information.
Hi, I have a question about the military pension. What kind of income has been considered for applying for Medicaid or a nursing home. Thanks.
Many thanks for your most informative videos. QUESTION. How do Series EE US Savings Bonds figure into the Medicaid asset threshold?
They count as assets
Why would you have a disinterested trustee as well as a trustee in a revocable or irrevocable trust?
How does Cash Value life insurance get counted?
It's counted for it's cash value
I have a question from Wisconsin. Can you gift the annuity to your kids, protecting it from the Medicaid, and still receive the income,
It appears that the only 2 ways of preparation to avoid Medicaid from taking your assets is either become a multi-millionaire or be able to afford LTC insurance :(
Two more ways: 1. If you never save anything during your life, then you are good to go, free government cash. 2. You do save and transfer your assets into an appropriate trust before its too late. Let a small portion of the taxes you paid over your life of hard work come back and help you out when you need it.