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Title:When NOT To Protect Assets From Nursing Home Costs
Duration:09:56
Viewed:122,883
Published:11-02-2020
Source:Youtube

Build your estate plan online! MyAdvocate is the online solution for creating and maintaining your Will and all other legally-valid estate planning documents. Click the link below to get started! www.myadvocate.com/join/paul -- The biggest threat to the estates of middle class Americans in 2020 and beyond is the threat that they will lose their home and life savings if they get sick and reside in a nursing home facility. Some people want to protect their land, their home, but they are not willing to do what they need to do to protect their IRAs. It's tough to protect the funds in your IRA because, if you live in a state where the IRA is a countable resource, you must remove the funds from the IRA, pay the appropriate income tax, and then move those after-tax proceeds out of your name in order to protect them and start the five year lookback period. For example, an individual with a $1 million IRA, who only plans to take their Required Minimum Distributions each year starting at age 72, will likely never qualify for Medicaid. They will never have less than $2,000 of countable resources. For prospective law firm clients who want to schedule a free 15 minute initial phone call with Paul Rabalais, go to: go.oncehub.com/Paul8 This post is for informational purposes only and does not provide legal advice. Please do not act or refrain from acting based on anything you read on this site. Using this site or communicating with Rabalais Estate Planning, LLC, through this site does not form an attorney/client relationship. Paul Rabalais Estate Planning Attorney www.RabalaisEstatePlanning.com Phone: (225) 329-2450

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