‘Gift and return’ strategy saves some elder assets

When
an adult child comes to my office, a frequent question “Is their anything I can
do to save my mother’s assets?” The child states “I’ve been told that I have to
spend all of my mother’s assets on the nursing home.” Additionally, “I cannot
do anything, as my mother did not do any medicaid asset planning. Because of
the five year look back period, we can’t do anything.”

Unfortunately,
we see these same MYTHs all
the time.

Mother
does NOT have to spend everything
to pay the nursing home.

Luckily,
I state that “Even if your loved one is entering or in a nursing home we can
save about half the assets, depending on your facts and circumstances, only
half of your mother’s assets need to be spent on her care.

The
next question, usually, is how?

“Using
a "gift and return" strategy, we can save about half her assets,” I
state.

The
next question, usually, is how does it work?

To learn more, visit our WEBSITE.
 Also, we have written a FREE Handbook – Questions to ask the Nursing Home if
you would desire a copy please email or call our office 301 663 9230.

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