100's that I have watched, this has to be the most CLEAREST, SIMPLE, to the POINT informational explanation. Personally can't thank YOU enough. Timing the Speed, the CLARITY of it.....BRAVO.
@charlottecannon314
Жыл бұрын
No, it's more like 4 thousand to 6 thousand a month. Unless youre living in a swanky country club resort nursing home. Either way, it's way too much. You're better off living in a smaller home, paid off in full, and hiring a full time care giver or two part time care givers and paying them a regular income each month as a independent contractor that they are responsible for their own taxes. Medicare - not medicaid, but medicare and if you have a secondary supplemental meducal Healthcare insurance, the two will pay for someone to come into the home and care for you, as a private care giver. Also, they will pay for your transport to and from your medical appointments. Medicaid can and will come after your estate, while Medicare will not. Steer clear from Medicaid if at all possible. You're far better off, and you won't have to worry about a spin down, nor will you need to sign your property over either. Personally, I'd go with two part time private care givers. Most home health companies offer both full time and part time care givers too. And, they'll do everything from caring for you, from bathing, to dressing to getting you up fir the day to cooking and preparing your meals, to cleaning your house and doung laundrey, or dropping your laundrey at a laundrey service, and many will also take you to your appointments as well. IF your Medicare and supplemental insurance will pay for your home Healthcare, it will cost you none to very little from your own pocket to do this. If your Medicare and supplemental insurance will pay part of these costs, it will cost a little more, and if neither will pay for any costs- you are still saving a lot of money, and might be looking at $2500 a month costs, and then you'll only have your regular household bills being you'll have your smaller home paid off, this will be your utilities, insurance, taxes, phone, and groceries, and perhaps some on your medications co payments. Dkung it this way keeps your property safe, your money or income safe and you're more likely to get far better care in a much better environment. If there are patient lifts, wheelchairs, hospital beds, oxygen machines involved- then your Medicare will pay for those items too to be rented by the month. The main problem with nursing homes, is they prey on your finances, they charge without your permission additional charges, hence they run your bill up deliberately, they smell, vulnerability for abuse to occur, good care begins to bad care, tge food is terrible, you'll lay in bed and not be turned and developed skim decubes and tears due to neglect of proper care, you'll die therr leaving a huge bill and facing their lawyers ready to pounce on your probate and, or estate or both. And the lawyers are just as bad, too - begween the two- they are the only ones who win in the situation. If you've got a family member who can and will care for you, your Medicare will also pay them to care for you too, providing your physician will type a letter up, and or code the treatment for a home health care provider or person to care for you. So, start planning now, see who will be reliable and wants to care for you now, before the time comes, and get it all prepared and ready in advance, and if you don't have someone consider a home health care company having a care giver or two part time ones come care for you, start talking to them now, and get it all ready, a plan set up and taken care of in advance. They'll even give you a choice, a CNA, a LPN or if need be a RN, and you csn have a MIX of the two or three come care for you, depending on your individual needs, and as you age your needs can and will likely change. That allowance of $3,016 dollars, is only half allowed for a married couple, the other spouse to keep ONLY IF YOU RECEIVE MORE THAN $6, 032 00 a month income. Most elderly people do NOT receive $6, 032.00 a month to live off of. So keep that in mind, because as a married spouse, you'll only be allowed to receive half of your combined marital income. That in example might be $2500 a month which is fairly average, then you'd only be allowed to keep $1,250.00 a month. And it could be considerably even less in many cases. I say, go for the home Healthcare if possible and keep yourseld happy, cared for and keep the crooks outnof your pockets, will, and estate. Best wishes.
@vladtom68
Жыл бұрын
Wow,excellent advice,thank you
@SandfordSmythe
11 ай бұрын
I would check how much Medicare will pay for this kind of card. It mostly does skilled care.
@johnkelly9451
2 ай бұрын
This sounds really good. Thank you. Only if we both become incapactated with no one to help, and either or both of us are still alive, would we become wards of the state? Alzeheimers is on the rise and dimentia these days.
@johnkelly9451
2 ай бұрын
@@SandfordSmytheMedicare or Avantage plans do cover "Skilled nursing care" But only for a limited time and event. It's Health Care not Home care. But for "Home Care" it is on us to pay for with Long term care insurance, an annuity that covers nursing home care, or cashing in a life insurance policy and spending down all the money we have, unless you are military and if you served during the dates in time of war (Nafv) can check with for the veteran and spouse. I'm not sure what other benifits for our military during peace time is available. There are private care companies to call while in home care all the way through nursing home care. We all need to get our plans in place so someone else doesn't do it for us. A good Elder Lawyer is what we need. Only a couple thousand of dollars and a fraction of the cost of the nightmares that await us and our families. Medicaid has a five year look back period, if we gave anything away, we cannot get Medicaid for the time depending on how much was given away. It's complicated. 🙏 ❤
@bgill167
3 жыл бұрын
Wow. This is a really good video. One thing to note is that many nursing homes require a minimum amount of money before they will accept Medicaid. However, if you want to pass down any inheritance, a medicaid trust sounds like the way to go. I wish this lawyer was in my state. He really explains everything very well.
@shannonsweeney1116
2 жыл бұрын
he's not a lawyer this video was for educational purposes only
@mielmel
3 жыл бұрын
Nursing homes in the United States have the most deplorable conditions. The CEO reap the rewards of the elderly residents finances while the staff is underpaid and minimal staff to patient ratio. Abuse is common in nursing homes, neglect, and living conditions are unacceptable. The CEO should only make 10 times the lowest paid staff member in nursing homes. This measure would allow to the nursing home to hire more staff to care for the patients properly and maintain the nursing home structure and living areas. It amazes me that in a country like the United States we allow the elderly to just be sent off to a place which is disgusting to say the least. How can someone find it acceptable to send their family member to a nursing home where they take all of your money put a lien on your house and still have disgusting interiors and minimal care for your family member. If you send someone to a nursing home expecting them to get better care and attention and they would at home you are mistaken. They will be neglected, they will be left to lay in their own excrement. There will be no one to sit there and hold her hand or talk to them after they get home from work and show them respect and love. You’ll have no time to visit them because you’re working and you think they’re being well taken care of. Don’t be fooled the entrance is always the most beautiful part of the nursing home. People should realize that this is a travesty to our elderly population and that someday you may end up having to go to a nursing home and you’ll regret never speaking out on such issues.
@SandfordSmythe
3 жыл бұрын
One problem is the small amount state Medicaid pays them. Taxpayers don't want to pay.
@patriciaramirez3139
3 жыл бұрын
Unfortunately, everything you mentioned above is truth 😔😪
@1m2rich
3 жыл бұрын
America is abusing their elderly and young. Biden and Congress have theirs so they don't care. That has to change.
@markchristman1076
4 ай бұрын
Well said. Our society has little honor for the elderly. We should model the Japanese who revere taking care of their parents.
@techworld-kc6lt
9 ай бұрын
My local attorney has a meeting on this issue; from listening to this video, I am for sure going
@acer4237
Жыл бұрын
State nursing homes that are covered by Medicaid are horrible 😢I pray to stay healthy to my last days with all my efforts
@networth9151
Жыл бұрын
Clear, concise and valuable information. You have no future in politics.
@SgtBooker44
3 жыл бұрын
Currently my 88 year old mother is going into a memory care facility due to dementia. None of the facilities will give a monthly rate without giving them all of he financials.
@billkallas1762
2 жыл бұрын
The best thing I ever did was set up a Trust, 7 years ago, to protect my assets. The only downside of doing it is the cost. Don't let that stop you though. It's best to set it up before age 60. If you wait until you are retired, you are taking a chance, because the Trust doesn't start working the second you sign the papers.
@islanddreamer5930
Жыл бұрын
Sounds what we want but what exactly is the name of the trust so we can ask our lawyer.
@johnkelly9451
2 ай бұрын
@@islanddreamer5930Talk with a good Elder Care Lawyer, this is their specialty.
@rosannasmith2772
4 ай бұрын
He is good. He explained it well. Does anyone know someone as good in Los Angeles, California ?
@mirandamassoo7136
3 жыл бұрын
Bottom line: don't put your folks in a nursing home
@mela6046
3 жыл бұрын
@@poolmilethirty2859 go to Philipppines (nci country like Turkey, Brazil etc no longer 3Rd world since Duterte cleaned up the country built 5 int'l airports 5 bridges building a Subway etc etc)After 59 days even foreigners can apply for Phi Health care card it's Nat'L health card 25% off for foreigners for hospitals , doctors ER care is only$40 ALWAYS then U minus 25% off lab cbc xray included etc...etc ...that's what Swedish, Norway, Germans, Austrians 11,000 Japanese 200,000 South Koreans & Iceland ppL do.... 200pesos daily for a nursing at home private duty care (less than ...peso 50 = $1 usa dollar, dollar droppin') there's a Nx that's just ful of Japanese... they R gonna open up the world's LARGEST IKEA in Sept 2021 in Manila... ( Austrian utubers = Make it Happen Vlog...utubers Mike & Nelly..live in BGC, Makti, Metro Manila,Phils)
@nancybryant4325
3 жыл бұрын
@@poolmilethirty2859 yes. Not everyone can afford to quit work and take care of someone around the clock. I’m a retired nurse and I don’t think people realize how much care some people require. Some people need to be repositioned every 2 hours, fed, maybe Tube fed, cleaned up frequently ,suctioned etc. It can also be physically hard. I think insurance and Medicaid should help more with homecare so some of our relatives could be taken care of at home. It also often falls upon one family member to do it all when other relatives could pitch in and do more. Also nursing homes need better regulation. They never have enough qualified employees.
@cadlac1533
3 жыл бұрын
@@nancybryant4325 hello , I totally understand about that : I really want my hub stay in home care but our house is not just build for disability person at all. Very sad to put him in rehab and keeps falling three times in a row, now has got hip surgery and has to stay a new place ( rehab) , frustrating situation. LTC not seem to be safe eIther . Both same place that he fell. No place like home but what should I do !
@mikemccown3919
3 жыл бұрын
@@cadlac1533 key
@mikemccown3919
3 жыл бұрын
@@cadlac1533 j
@cruisedance979
3 жыл бұрын
Thank you so much you explained very clear.
@janapeony8561
3 жыл бұрын
This is why I moved to Europe.
@mariat4812
2 ай бұрын
Great decision
@mela6046
3 жыл бұрын
CT thresholds R double or MUCH hIGHER ... if U acquire a elderly Nx home insurance etc see pdf for CT we wrote the book
@Dervraka
3 жыл бұрын
Don't know if it's the same for ever state, but when my mom went into a nursing home, we were afraid they would take her house. But apparently my state (WV) has like an exemption for homes, up to certain threshold so when they saw moms was only appraised at $78,000 they didn't even look at it for medicaid purposes.
@greenbushfinancialgroup
3 жыл бұрын
The Medicaid rules do vary from state to state (Comment is for education. Not advice)
@theraptureisnearbelieveinj7695
3 жыл бұрын
Just head to Mexico, or hire a part-time caregiver at home for assisted living when the time comes! Sorry kids, you’re gonna have to help out with your parents care when the time comes! The US is so corrupt on every level! Just disgusting! Buy yourself all the senior items necessary to live a normal life before you retire...walker, wheelchair, walk-in tub, meal delivery, etc. Just choose to die at home! I’m not gonna buy LTC insurance, Medicare, Affordable Care Act, nothing! And how bout I rent for the rest of my life and don’t keep any assets in the bank!? What happened to them?! I didn’t give them to nobody! I spent it all! Keep govt out of your biznass! :)
@tomrobertson3236
10 ай бұрын
And Mexico is a lantern of freedom ? Lol Good bye non American
@annelau1831
3 жыл бұрын
Excellent
@libertyman3729
3 жыл бұрын
Thanks for the information . I have met with "Elder lawers" but they did not cover what you did .
@sosflex
3 жыл бұрын
So a Medicare trust is the same as a family trust?
@greenbushfinancialgroup
3 жыл бұрын
A family trust can be either a revocable or irrevocable trust. Medicare trust are only irrevocable trusts. So it depends on the type of trust whether or not the “family trust” would qualify (Comment is for education. Not advice)
@donreinholz8121
Жыл бұрын
The state by state distinction is a valid point. I believe LTC policies have priced themselves right out of affordability. I have heard they can double overnight and some companies are getting away from them. Hybrid policies have a death benefit but are 3-4 times as expensive. Capitalism at its worse. The trust sounds interesting but isn't that only for someone who has a large portfolio?
@greenbushfinancialgroup
Жыл бұрын
We have had clients that the only asset they own outside of IRAs and retirement accounts is their primary residence, and setting up an irrevocable trust has made sense. In states like NY, even though the primary house is not a countable asset for Medicaid, Medicaid can put a lien against that their estate, so when that person passes away, the family is then forced to sell the house, and sometime Medicaid get the full proceeds. Instead, if the family setup an Irrevocable trust to own the house, they get by the 5 year lookback, yes, they had to spend $3K - $7K to setup the trust, but they just preserved the value of the primary house for the beneficiaries of estate that might be worth $200K+ depending on the value of the house. But again, it goes back to the Medicaid rules of your state and county. (Comment is for education. Not advice)
@stableboynmilkmaid
2 ай бұрын
Isn't that price different form state to state???
@annjean8709
2 жыл бұрын
Great video! Thank you for sharing.
@ralphweber2522
2 жыл бұрын
Excellent video, great explanation, thank you! I recently set up a family trust, and with few questions from my estate attorney, he set up a revocable trust for me. I now realize that won’t protect my assents from nursing home costs. I want to keep my cash to supplement my social security income. Can I have an additional irrevocable trust and just put my house in there and have both trusts?
@greenbushfinancialgroup
2 жыл бұрын
Yes, you can have two trusts, a rev trust and an irrevocable trust. As long as the house does not have a mortgage you can put it in the irrevocable trust and keep your cash assets in your rev trust.
@yagga8885
Жыл бұрын
@@greenbushfinancialgroup it how are the assets in the revocable trust not counted by Medicaid if you have control of them?
@greenbushfinancialgroup
Жыл бұрын
@@yagga8885 Rev Trust asset are counted for purposes of Medicaid, Irrev Trust assets are protected if your have met the lookback period
@glammav14344
3 жыл бұрын
Did you say, a person who gave away his or her money 5 years prior to applying for nursing home medicaid is not eligible, and had to get back the money or will never be qualified? Is this forever? Isn’t there a look back calculations that will make the person qualified after several years of several months if he cannot get the money back? Why are you omitting this?
@greenbushfinancialgroup
3 жыл бұрын
A person in NY that gives away their countable assets 5 years prior to the long term care event, will often be immediately eligible for Medicaid without having to spend down those assets. If you make it a few years but less than 5, say 4 years, you would have to pay for a year of care before being eligibility for Medicaid once the full 5. Years have been satisfied. (Comment is for education. Not advice)
@stan3452344
2 жыл бұрын
Are annuities purchased with after-tax funds a countable asset?
@greenbushfinancialgroup
2 жыл бұрын
Non-qualified annuities are countable assets in NY for purposes of Medicaid (Comment is for education. Not advice)
@patriciaramirez3139
3 жыл бұрын
Can we do a revocable "Grantor Trust" instead of irrevocable medicaid trust? By calling it Medicaid trust, is just to title the trust? Nothing in the trust will benefit medicaid right? If the children are the beneficiaries of the trust, what provisions should be reflected in the trust so they will not be taxed when they get the $$ from the trust? Does a home need to be paid in full in order to be reflected in the trust? Please recommend a state attorney in Austin TX.
@greenbushfinancialgroup
3 жыл бұрын
Medicaid trust are irrevocable trusts. But they can be grantor irrevocable trusts so the beneficiaries receive a step up in basis when the grantor passes away. Typically a house has to be paid in full to put the house in a Medicaid trust. Since we are based out of NY, I unfortunately do not have estate attorneys in TX to recommend. (Comment is for education. Not advice)
@patriciaramirez3139
3 жыл бұрын
@@greenbushfinancialgroup Thank you! 🤠👍
@patriciaramirez3139
3 жыл бұрын
Thank you, it was clear and to the point. 👍
@RetrieverTrainingAlone
2 жыл бұрын
The house, car, personal belongings, etc. does not count in terms of assets. The house must be a principal residence and does not count as long as the nursing home resident or their spouse lives there or intends to return there
@greenbushfinancialgroup
2 жыл бұрын
In NY, you are correct primary residence is not a countable asset for purposes of Medicaid, but Medicaid can put a lien against your estate so when you pass, they force your estate to sell the house and they recoup the amount they paid for your care. So even though Medicaid couldn't force you to sell the house while you were still alive, when you pass, they are still there waiting to get paid which could prevent your estate beneficiaries from ever receiving the house.
@mvince4030
3 жыл бұрын
First time I have heard of Medicaid Trust. Is that something different from a Living Trust?
@greenbushfinancialgroup
3 жыл бұрын
A living trust is typically a Revocable Trust. Medicaid trusts are Irrevocable Trust. (Comment is for education. Not advice)
@justwannasay5454
Жыл бұрын
I put the house in a trust myself. Didn't cost me anything.
@ninmoney8228
3 жыл бұрын
In an irrevocable trust, can a family member be the trustee? Can the same family member be the trustee and beneficiary?
@greenbushfinancialgroup
3 жыл бұрын
Yes to both of those questions and it’s common that both are family members (Comment is for education. Not advice)
@denisefuentes7905
11 ай бұрын
I’m NEVER going into a nursing home. Old? Sick? And institutionalized? No thanks. I’m walking out on the ice.
@ssarraf6855
3 жыл бұрын
Thanks for this informative video. Why is it called “Medicaid Trust” ? Is it because it is good ONLY effective for Medicaid ? Thanks
@greenbushfinancialgroup
3 жыл бұрын
It's called a Medicaid trust because the main objective of these trust accounts is to protect assets from the Medicaid spend down. But they are irrevocable trust and carry with them the other benefits associated with irrevocable trusts like avoiding probate and asset protection from creditors. (Comment is for education. Not advice)
@donnamartin1182
3 жыл бұрын
Buy nursing home insurance. People are not willing to spent a little money to save a lot. A lot of nursing homes do not accept Medicaid patients, so you have no choice of nursing homes.
@patriciaramirez3139
3 жыл бұрын
So Nursing Home Insurance will cover any nursing home that we choose?
@moynulhoque7263
3 жыл бұрын
Excellent information. You are good!!! Thank you so much . Do you know anyone good like you in Dallas texas?
@sherrymitchell8934
2 жыл бұрын
Richard Johnson, P.C.
@TheHouseofChameleons
Жыл бұрын
If you put taxable assets into a trust, dont they get taxed at a higher rate?
@greenbushfinancialgroup
Жыл бұрын
If it’s a revocable trust or a grantor irrevocable trust, the trust assets continue to get taxes at your personal tax rates. Non-grantor irrevocable trust get taxed at those special tax brackets just for trusts. (Comment is for education. Not advice)
@wandaechols7204
3 жыл бұрын
If I have a irrevocable trust and just draw interest on there do I have to claim interest if I apply for Medicaid
@greenbushfinancialgroup
3 жыл бұрын
Usually interest that is withdrawal from a grantor irrevocable trust is reported as income on your tax return. So it would be included in the income section on the Medicaid application with the rest of your income. (Comment is for education. Not advice)
@jerrygrice4864
3 жыл бұрын
@@greenbushfinancialgroup 8
@ninmoney8228
3 жыл бұрын
In an irrevocable trust can the trustee be a family member? And the trustee and beneficiary the same family member? Thanks
@greenbushfinancialgroup
3 жыл бұрын
Yes, the trustee can be a family member. The trustee can also be a beneficiary of the trust. (Comment is for education. Not advice)
@robertobrien316
3 жыл бұрын
@@greenbushfinancialgroup However, the grantor cannot be a beneficiary or a trustee. Correct?
@greenbushfinancialgroup
3 жыл бұрын
@robertobrien316 Of an irrevocable trust, that is correct. (Comment is for education. Not advice)
@gdean6002
Жыл бұрын
My parents and My Father in Law had a trust and never went to a nursing home. It was a pain in the ass for us to distribute to all the heirs. Also the average cost to set up a trust is 8-12K. What a waste of money!! Please do more homework.
@ellencox8415
11 ай бұрын
All I'm hearing is never put your loved one in a nursing home and just do home care/assistance.
@SandfordSmythe
2 ай бұрын
You don't always have a choice
@reeter1222
3 жыл бұрын
Does my 401K have to be spent or can I transfer it into my child’s name?
@greenbushfinancialgroup
3 жыл бұрын
You can’t transfer a 401K to someone else. The spend down would just require you to take required minimum distributions out of the account. Unlike other assets that you have to spend down to zero (Comment is for education. Not advice)
@Vanessa-hc5gw65
2 жыл бұрын
401k and IRA cannot be transferred while we’re alive; we can withdraw the funds and pay taxes to give the remaining cash to our children.
@ssarraf6855
3 жыл бұрын
Why is it called “Medicaid Trust” ? It it because it is only effective for Medicare and nursing home issues? And no other cases ?
@greenbushfinancialgroup
3 жыл бұрын
A medicaid trust can be used for other purposes besides just protecting assets from Medicaid. They call it a medicaid trust because that’s the trusts primary objective to protect assets from Medicaid. But it’s a full irrevocable trust. So you also receive the benefits of the creditor Protection and avoiding probate. (Comment is for education. Not advice)
@ssarraf6855
3 жыл бұрын
Thanks for your reply, really appreciate that.
@pankajpatel4434
2 жыл бұрын
Can one place into irrevocable Medicaid trust one’s Traditional IRA & Roth IRA ? Is this a taxable event ? HARI HARI 🙏
@greenbushfinancialgroup
2 жыл бұрын
Ira’s cannot be owned by trusts. (Comment is for education. Not advice)
@kenndaily8451
3 жыл бұрын
Does the transfer of the assets create a tax event?
@greenbushfinancialgroup
3 жыл бұрын
Gifting assets typically does not create an immediate tax event. But it could if it’s a higher dollar amount above the lifetime gifting exclusion amount. (Comment is for education. Not advice)
@kenndaily8451
3 жыл бұрын
@@greenbushfinancialgroup Thanks. Is there an income tax liability for the trust?
@toekneelorenzo2942
2 жыл бұрын
If house has being willed out over 8 years can medicaid take away fir providing long term services in tx?
@BillyT531
3 жыл бұрын
Medicaid? Did you mean to say Medicare?
@greenbushfinancialgroup
3 жыл бұрын
No, this is protecting assets from Medicaid. Medicare only pays for LTC cost for a very short window of time, then you either have to pay out of pocket or Medicaid picks up the tab. (Comment is for education. Not advice)
@SandfordSmythe
3 жыл бұрын
@@greenbushfinancialgroup Medicare will only pay a NH stay for intensive rehab and nursing care.
@kosh2001
3 жыл бұрын
Question....So I have lets say 150K in a 401K which is pre-tax contributions originally from my IRA which I transferred to a 401K after I retired.......now are you saying that, that cannot be counted as countable asset or not????? Thanks in advance.
@greenbushfinancialgroup
3 жыл бұрын
Retirement accounts like 401k accounts are not countable asset but they do require you to turn on required distributions and then contribute those amounts toward your care. (Comment is for education. Not advice)
@kosh2001
3 жыл бұрын
@@greenbushfinancialgroup Thanks!
@bigtoeknee11
3 жыл бұрын
What are the required distributions if you are not yet 72 yo.
@kosh2001
2 жыл бұрын
@@greenbushfinancialgroup After reading more into this by having 150k in an IRA would disqualify me from using Medicaid and have to use a private facility which would burn through my 150k in the IRA then when I'm broke Medicaid would take over.....is that pretty much a true statement and if so can I put my IRA into a Trust to protect it? Thanks again in advance!
@donnaallgaier-lamberti3933
Жыл бұрын
Is what you are calling the Medicade Trust the same as the Smith Family Trust? (in Michigan for example)
@trailer20001
3 жыл бұрын
What happens to Jim when he has no money and no Medicaid?
@Troy_Built
3 жыл бұрын
I've been wondering that for a while now and no one seems to address that.
@mela6046
3 жыл бұрын
U will apply for Medicaid & what happens if a person goes in the hospital & then they will take care of ALL papers & apply for emergency medicaid for that person, they can get paid 6 months back (they WILL make the $money$ OVERNIGHT because the patient IS WORTH IT! They will just swallow the tiny loss! but they will get apt forever......they know the iNS & OUTS & know what 2 write, what Dx to write & what diagnoses THEIR ELDER Doctors in house will be looking for...ER care is "JUST A BAND AID"..the specialists Nx home NURSES & doctors will do the rest of the paper work...so ..= U DO HAVE $FUTURE$ $MONIES$... I know about all that..
@mela6046
3 жыл бұрын
@@Troy_Built U will apply for Medicaid & what happens if a person goes in the hospital & then they will take care of ALL papers & apply for emergency medicaid for that person, they can get paid 6 months back (they WILL make the $money$ OVERNIGHT because the patient IS WORTH IT! They will just swallow the tiny loss! but they will get apt forever......they know the iNS & OUTS & know what 2 write, what Dx to write & what diagnoses THEIR ELDER Doctors in house will be looking for...ER care is "JUST A BAND AID"..the specialists Nx home NURSES & doctors will do the rest of the paper work...so ..= U DO HAVE $FUTURE$ $MONIES$... I know about all that..they see U as $$$,$$$ per year each BED in a Nx home...ure valuation is unbelievable ! an average nurse makes six figures a year working in a Nx home they have several jobs , overtime, this time that time etc.. they see ka$ ching$ ka$ ching$
@SandfordSmythe
3 жыл бұрын
@@mela6046 I'm sure at some point the patient or family member will be asked about existing assets and income, and they will have to sign off on that.
@mela6046
3 жыл бұрын
@@SandfordSmythe according to Toby Koenig= "...when he has no money and no Medicaid" so there is no money ...(assets & income = no money)... that is Mr Toby Koenig's question of the day.
@wdeemarwdeemar8739
3 жыл бұрын
Great video but I was a SNF Administrator for 7 years in Cali. If families were hiding money I simply called our Assistant Attorney General. He got medi cal stopped, slapped liens, filed elder abuse (fiduciary). Trusts never stopped Bill Lockyer and his team. He even got Medicare dis-enrolled which was lots of fun. California Judges would adjudicate truly dementia patients as incompetent and the public guardians office as the conservator and the kids got squat. County Council and court investigators would go through the trusts and see if they using the money properly. You will find greedy people don’t follow rules very well. In all these cases kids were very focused on holding on to millions while the person who earned that money suffered.
@lindanoble2803
2 жыл бұрын
9
@pamzanon6599
11 ай бұрын
not always about greed. it penalizes the lower middle class who tried to save a few $$ in their lifetime as opposed to the person who spent all their $$ on luxuries. it also penalizes the institution of marriage. if the community spouse is unable to survive on the assets you're allowed to keep
@mela6046
3 жыл бұрын
ppL divorce... on paper...
@whataname01
3 жыл бұрын
Someone has to pay in this musical chair scheme...
@1m2rich
3 жыл бұрын
Single payer health care is needed in the US. No other developed country have people lose their homes for health care. Profit off the old.
@1m2rich
3 жыл бұрын
No health care costs are the highest in the world.
@reeter1222
3 жыл бұрын
Can I put my home in my child’s name or do I have to sell it to them?
@greenbushfinancialgroup
3 жыл бұрын
You can put it in your child’s name but there is a huge tax trap for doing that when they go to sell the house after you pass away. No step up in basis (Comment is for education. Not advice)
@marthas8108
2 жыл бұрын
Hubby and I have no children to leave money to, but if one of us goes into a nursing home we don't want the community spouse to become impoverished. Do we need a medicare trust? Or would it make just as much sense to get divorced and live in sin for the rest of our lives? :-) That way at least half of the money would be protected from the nursing home. We're in our 60s.
@SandfordSmythe
2 жыл бұрын
There are federal Spousal Impoverishment laws that help the community spouse
@Lamplighter4712
2 жыл бұрын
Also , people had fewer children ,everyone has jobs , unable to care for parents
@thomast3570
Жыл бұрын
Also, people are living longer with more depilating diseases.
@mela6046
3 жыл бұрын
Stick URE $monies in the basement safe deposit box "certain" ethnic groups do it ... & get both... & nothing is in the house there's a monthly mortgage TAKE IT OUT...& just be a tenant 2 URE "place" or got ot Philippines... :)) Peso 200 per day is private duty in house care.. starting...
@BillSias-op7xw
3 жыл бұрын
Some slick math and logic, pay an attorney 8k to set it up, then you get caught within the look back period, you must pay down your assets....ok, but he said the amount paid to the attorney would have gone to the costs anyway....hold on, no, because you'd have 8k more to pay down the costs! Watch the shells closely, keep your eye on your money. Consider a "Single Premium" life insurance policy, you pay a lump some up front for a larger amount in a death benefit, that policy funds the Trust. The Trust may own the policy. There is a reason my grandfather kept cash under the bed, especially when interest earned was very low, a bird in hand is worth two in the bush, but just one bird, don't put the whole flock under your bed.
@kentnauman9863
3 жыл бұрын
Easy ,don’t go into nursing home
@chrismeister884
3 жыл бұрын
So let’s see.. you want the nursing home to take care of your family member but you don’t want to pay for it yourself. This is why taxes are so high as people expect the government to pay for their care
@nunyabeezwacks1408
3 жыл бұрын
The title of this video should be “HOW TO KEEP YOUR ASSETS WHILE FORCING OTHERS TO PAY FOR YOUR NURSING HOME CARE”. I know this happens, but it absolutely rubs me the wrong way! It may be legal, but it seems immoral and unfair. I paid for my mom’s care for years, from my income & savings until her passing, and I’d do it again if only she were still alive. Parents want to pass their assets on to progeny who won’t even care for them when they’re in ill health. SMDH
@libertyman3729
3 жыл бұрын
My mom and dad both were in and died in a nursing home. Tell me, what did they do to deserve 140,000.00 a year ?
@Chris-tg3qy
3 жыл бұрын
@@libertyman3729 I would rather see them let a child quit their job and earn half of that as income. It would save in taxes. In my parents’ case the nurses distributed medication and helped bathe them. We were told they had to go in nursing home care due to fall risks and if we didn’t agree to that and they fell at home, then we were being irresponsible and could be charged with elder abuse.
@Tim1-101.1
3 жыл бұрын
@@Chris-tg3qy get a Walker or wheel chair
@Chris-tg3qy
3 жыл бұрын
@@Tim1-101.1 They fell with walkers. The problem is if you leave the house for a short period and they have to go to the bathroom they have to get out of a wheelchair or they let go of the walker. That is usually when falls occur. A lot of illnesses cause the body to stiffen or become really frail.
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