Today I am thinking about how we can control healthcare, Medicare and Medicaid costs.
One abuse of the system (since we’re talking about waste, fraud and abuse) is the ability of the elderly to “hide” assets from the system.
I am in the middle of this process now where I put my assets (including my fully paid off home) into a Family Trust and thereby look “poor” in the eyes of the government.
It is totally legal and has been around for years. Thank you Democrats and/or Republicans whoever conceived of this and voted for its passage.
There is a 5 year pro rated look back so if I get sick next month and go in a nursing home I do lose the house if I can’t pay.
But 6 years from now if I go to the nursing home and I am making $1200 a month on Social Security then that’s all they get!
A lifetime nursing home for only $1200 a month even though I may be a millionaire, a billionaire or a zillionaire! All assets are stashed away in a trust for my loving children and you, Mr. and Ms. Taxpayer are footing the bill.
Thank you and God Bless America!
And you’re worried about Russia?
Now let the record show that I learned this process many years ago when the driver of the shuttle bus taking my grandmother to and from the senior citizens day care center recommended it to my mom.
We went to a lawyer and he created the trust. Years later my mom set one up for herself naming my brother and I trustees.
Now they are both gone and it’s my turn and we set the trust up next week.
Now why is this important.
My mother in law (who had a million dollar trust left from her Wall Street father) is almost 93 AND DID NOT USE THIS PROCEDURE!
My wife and her sisters were going to get $150,000 each upon her passing and I just found out that is down to $60,000 each because the nursing home is cleaning her clock and eating her lunch at the same time!
So our inheritance is blowing in the wind the same way I will toss her ashes.
Please America. Don’t be stupid. Think like a billionaire. If they can do it you can do it.
Get professional help and protect your assets.