You need help. Not just any help. You need expert help when it
comes to Estate Planning, Medicaid Asset Protection Planning and Insurance
Protection Planning.
You may be financially secure. In that case a professionally crafted
will, durable power of attorney and directive to physcians may
suffice. Your enviable status is "self-insured" and your main concern is to
see that your testamentary intent is fulfilled and minimize estate taxes.
On the other hand if you can't afford to be "self-insured" you need a
different approach. I know. I was a trial attorney for 20
years. For the the last 15 years I have molded into an estate planner with
emphasis on medicaid asset protection planning. I have seen sad stories
that I was able to turn into reasonably happy ones.
A typical profile would be someone with $100,000 to $500,000
in net worth. It will difficult for you to be "self- insured" if you
or your spouse go into a nursing home. Currently the average monthly
nursing home cost in Washington state is $6,500. Therefore, if you are
reasonably young you must buy long term care insurance. You should start
considering it when you are forty and buy it before you are fifty. And
plan on holding on to it. It makes no sense to buy this product and then
stop paying premiums in four or five years. That would be a waste of
money.
Again, there is a dichotomy here. If you are young you should
concentrate on building your retirement and buy long term care insurance.
If you are older and confronted with a nursing home crisis you really need
help. But there is a way. It is called medicaid asset protection
planning and it relies on a very complex process of transferring and spending
down your assets so that they are under $2,000. This is done through the
use of a qualified single pemium annuity. This approach and other
techniques have the highest percentage chance of saving your hard earned
nest-egg for yourself while in a nursing home, for your spouse and for
your heirs when you pass.
For the younger set, I can help convince you to buy long term care insurance
and other insurance products, and properly prepare your will, durable power and
directive to physicians. These things are particulaly important if you
have young ones.
Times are changing. You are living longer. Job changes are
more frequent and you will have to rely less and less on government and
corporate benefits. The world is becoming a more complex place. What
I offer is one piece to the puzzle of peace of mind for the middle age client
and financial crisis management for anyone with the threat of nursing home
expenses on the horizon.
We are positoned to offer fast reliable service and products from highly
rated companies.
Please call for a free phone consult. After that we will make an
appointment. I have offices in Kirkland, Seattle and Edmonds. Some
people prefer that I meet them at home which I am happy to do.
425-774-9566 or cell 206-669-4589.
Alan F. Hall, JD, RA