Great video, thanks. I had priced LTC insurance back when I was young and decided to put my savings and investments on steroids' and 'self fund' LTC. Now at age 66 I'm being told if I pay for nursing home care from my IRA those $9,000 a month monies are taxed putting me in a 3 times higher bracket? likely doubling the expected cost of LTC? I had assumed if you're spending around $9K a month on nursing homes that would fall into the IRS medical exemption, getting mixed stories on this.
I am going to take care of my Mother and never put her into a nursing home! She's on SSI and Medicaid and so am I. She has her home and wants to leave it to me but they can take it! Help me to know what to do? Thank you!
Thanks Sir, for the statistics ! I’m 68 & wish to find out how to go about doing Medicaid eligibility planning . Do you recommend any experienced & reliable Elder Care Attorney in Las Vegas. NV ? Thanks 🙏 HARI HARI 🙏
@@americasestateplanninglawy1946 i have a question please anyone. I am a surviving spouse of a Vietnam Vet, husband was 100% total and permanent. Question is someone said I may get nursing home free? Dont know where to find the correct answer. Thank you
I am dealing with this now. It's too late for me. People, don't let them take your family heritage away. Can't imagine how many have signed up for Medicaid and had no idea, they will take everything during this Covid BS.
@@americasestateplanninglawy1946 Wished I had found your channel a couple years ago. I am gonna be homeless now over this. The property is the only tie I have to this planet and ancestry. I took care of my brother and his wife for 10 years. Anyone want to back me up when they auction off the estate? lol
Wait a minute. I get it, I GET IT, BUT what your doing is showing how to pass the buck to everyone else to pay the bill? Am I wrong? I agree and believe in paying my fair share and or hoping I can give to my family. But Medicare/Medicaid is not free. But, I will probably look into this myself. I'm a hypocrite. sigh
maybe there should be a federal program that covers your nursing home years or months that does not raid your entire savings that you hope to have left to children...ever wonder where the social security monies go to when the poor schlub dies on the first month of retirement...poor people hand over their assets to feds...the one per centers and most corp do not pay their fair share of taxes(legally)...if it is legal to cya on this 5 year look back then not using it is foolish or an awareness issue...did you notice how much money got pumped into the economy when covid crashed the market march 2020...see the point is we have as a great country the ability to care for our elderly citizens with dignity and not subject them to this final years working class fiscal raping...
I am 57 and looking at this issue now
Good job DW! 👍
Great video, thanks.
I had priced LTC insurance back when I was young and decided to put my savings and investments on steroids' and 'self fund' LTC. Now at age 66 I'm being told if I pay for nursing home care from my IRA those $9,000 a month monies are taxed putting me in a 3 times higher bracket? likely doubling the expected cost of LTC?
I had assumed if you're spending around $9K a month on nursing homes that would fall into the IRS medical exemption, getting mixed stories on this.
I am going to take care of my Mother and never put her into a nursing home! She's on SSI and Medicaid and so am I. She has her home and wants to leave it to me but they can take it! Help me to know what to do? Thank you!
Would you do or had you done a video on how to locate/select a qualified estate planning attorney? Asking from the Florida Panhandle.
Thanks Sir, for the statistics ! I’m 68 & wish to find out how to go about doing Medicaid eligibility planning . Do you recommend any experienced & reliable Elder Care Attorney in Las Vegas. NV ? Thanks 🙏 HARI HARI 🙏
What if your house sells before you enter a nursing home
Thank you, in the process right now thanks to you. I'm 67 now lol. Hello from Central Florida.
Way to go Central FL 67. Happy to play a small role! 😎
@@americasestateplanninglawy1946 i have a question please anyone. I am a surviving spouse of a Vietnam Vet, husband was 100% total and permanent. Question is someone said I may get nursing home free? Dont know where to find the correct answer. Thank you
When one spouse goes into a nursing home, is the other spouse's 401k at risk to pay the bill?
I am dealing with this now. It's too late for me. People, don't let them take your family heritage away. Can't imagine how many have signed up for Medicaid and had no idea, they will take everything during this Covid BS.
Good advice Happy! 👍
@@americasestateplanninglawy1946 Wished I had found your channel a couple years ago. I am gonna be homeless now over this. The property is the only tie I have to this planet and ancestry. I took care of my brother and his wife for 10 years. Anyone want to back me up when they auction off the estate? lol
Wait a minute. I get it, I GET IT, BUT what your doing is showing how to pass the buck to everyone else to pay the bill? Am I wrong? I agree and believe in paying my fair share and or hoping I can give to my family. But Medicare/Medicaid is not free. But, I will probably look into this myself. I'm a hypocrite. sigh
maybe there should be a federal program that covers your nursing home years or months that does not raid your entire savings that you hope to have left to children...ever wonder where the social security monies go to when the poor schlub dies on the first month of retirement...poor people hand over their assets to feds...the one per centers and most corp do not pay their fair share of taxes(legally)...if it is legal to cya on this 5 year look back then not using it is foolish or an awareness issue...did you notice how much money got pumped into the economy when covid crashed the market march 2020...see the point is we have as a great country the ability to care for our elderly citizens with dignity and not subject them to this final years working class fiscal raping...
Won’t Medicaid take everything when you die anyway.
Not if you plan ahead of time and move assets to trusts.