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A Guide to Elder Planning: Everything You Need to Know to Protect Your Loved Ones and Yourself, Second Edition

by Steve Weisman

January 2013

Intermediate to advanced

384 pages

9h 10m

English

Pearson

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InsuranceHomeowner’s InsurancePrenuptial AgreementsBank AccountsTrustsHomestead ProtectionFraudulent ConveyancesAssets Protected by LawJoint OwnershipTenancy by the EntiretyFamily Limited PartnershipsEndnotes
Equal Credit Opportunity ActCredit ReportsCredit Cards
Power of AttorneyDurable Power of AttorneyYou and Will RobinsonIRS DangersHealth Care ProxyFree Advice (And Worth Every Penny)
WillsLiving TrustsIncentive TrustsEstate TaxesState Estate TaxesIrrevocable Life Insurance TrustsCharitable Remainder TrustDefective TrustsSection 529 PlansPlanning for Your PetsDigital Estate PlanningPOD AccountsSecond MarriagesEstate Planning for Unmarried CouplesNow That You Have a Plan
Mutual FundsDRIPsCertificates of DepositTreasuriesAnnuitiesYour Stock PortfolioA Few Words on GoldFinal ThoughtsEndnotes

Marital StatusParents and ChildrenDomestic PartnersThe Over-65 CrowdUntaxed IncomeTax CreditsSocial Security TaxesTax DeductionsTax Relief as Big as a HouseI Get By with a Little Help from My FriendsNow That You Have Prepared Your Taxes, What Documents Do You Keep?Final Words from Deep in the Heart of TaxesEndnote
Traditional IRARoth IRADecisions, DecisionsThe Different Path401(k)Roth 401(k)Bad News/Good NewsChoicesDevil in the DetailsHow to Exorcise the DevilBeneficiary DesignationConversion to a Roth IRAWhen Does It Make Sense to Convert a Traditional IRA to a Roth IRA?DistributionWithdrawal PainsSurvivors
Reverse MortgagesKeep It in the FamilyUncle Sam Likes Reverse MortgagesUsing Reverse Mortgages to Pay for Long-Term Care InsuranceCreative Uses of Reverse MortgagesCounselingBells and WhistlesShared Equity and Appreciation FeesReverse Mortgage FeesFor Whom the Reverse Mortgage TollsThe Bottom LineMortgage PrepaymentPrivate Mortgage InsuranceRefinancingLife EstatesSell the Home to the Children
Retirement CommunitiesImportant Considerations in Evaluating a Continuing Care Retirement CommunityAssisted LivingLegalitiesWhat’s in a Name?AccreditationImportant Considerations in Evaluating an Assisted-Living FacilityA Word of WarningLocation, Location, LocationCheck It OutSecurityHospitalsThe Smell TestSmokingPet PolicyTransportationDo You Get Fries with That?What Would Tim Russert Ask?The Fine PrintHow Do You Pay?Checklist of Important Issues in Considering an Assisted-Living Facility or Continuing Care Retirement CommunityThe Final WordsEndnote
HistoryCost of Long-Term CareFuture Cost of Long-Term CareFinancing Long-Term CareFinding the MoneyAnother Thing to Think AboutSwapOther ConsiderationsCreative SolutionsWho Is in Jeopardy of a Premium Increase?Good NewsIt Pays to Be MarriedGroup PoliciesDeferred AnnuitiesDisability InsuranceSurf and TurfMake the Kids PayEndnote
HistoryEligibility and Benefit CalculationsLook for Your Annual StatementFull Retirement AgeEarly or Late RetirementShow Me the MoneyA Bird in the HandOver-UnderTake the Money and RunA Work in ProgressGetting a Larger Check LaterSpousal BenefitsIncome TaxesAnother Reason to Delay Taking BenefitsCOLAsSocial Security Retirement StrategiesSurvivor’s BenefitsNotch BabiesSocial Security Disability IncomeGetting a Copy of Your RecordOverpaymentsMedicare and Your Application for Social Security BenefitsEndnote
The Medicare AlphabetManaged CareThe Fly in the OintmentWhere Do You Get Your Plan?When Can You Join or Switch a PlanWhat Does It Cost?The MathWho Is Keeping Score?Sticky Little DetailDon’t Cry for Me Argentina: Tiered DrugsExceptions ProcessPenaltyTricareThings to Consider When Choosing a Drug PlanDon’t Give Up the SHIPMedicare Home HealthcareHome Healthcare Services ProvidedPost-Hospital Home HealthcareHospice CarePremiumsEnrollmentMedicare DMedigap InsuranceTraditional Medicare or Medicare Advantage?AppealsEndnote
Medicaid 101Asset EligibilityLife InsuranceRetirement PlanningExceptions to Transfer PenaltiesHome ImprovementConsideration of IncomeProtection from Spousal ImpoverishmentHow Much Do You Pay?Increasing the Allowance for At-Home SpousesMedicaid PlanningJust Say NoEstate Planning for the Community SpouseEstate and Financial Planning for the Spouse in the Nursing HomeTactics for Reducing Assets Without a Medicaid PenaltyTrustsProtecting the HomeTips for the HomeTactics for Increasing Assets to Achieve a Greater Spousal Resource AllowanceAnnuitiesPromissory NotesDo Nothing StrategyAs if You Don’t Have Enough to Worry AboutPartnership for Long-Term CareEstate RecoveryExceptionsThe Latest Information
Veterans Eligible for Veterans Administration (VA) Pension BenefitsSpouses and Family Members Eligible for VA BenefitsBasic Requirements for Veterans’ BenefitsPension Benefits for War Veterans and Their Families
Privacy and Medical RecordsAccess to Medical Records—By You and Others
Identity TheftAffinity FraudThe Grandparent ScamSocial Security ScamsMedicare ScamsCharity ScamsInvestment FraudsVariable AnnuitiesCharitable Gift AnnuitiesChurningStranger-Owned Life Insurance (SOLI)Sham Tax FormsPhony PrizesSlavery ReparationsIRS ImpersonatorsCredit-Card ProtectionChain LettersPyramid SchemesCrammingCredit Repair ServicesTravel FraudReloadingSome Good AdviceIdentity Theft from the DeadA Few Tips
Health Care ProxyHospice CareOrgan DonationDurable Power of AttorneyBeneficiary DesignationsMonetary NeedsWillsPlanning Your FuneralWills to Live By
www.benefitscheckup.orgwww.pbgc.govwww.medicare.govwww.medicare.gov/NursingHomeComparewww.hmos4seniors.comwww.medicareadvocacy.orgwww.aarp.orgwww.irs.govwww.taxsites.comwww.ftc.govwww.scamicide.comwww.reversemortgage.orgwww.ssa.govwww.healthfinder.govwww.uslivingwillregistry.comwww.naela.orgwww.equifax.comwww.experian.comwww.transunion.comwww.treasurydirect.govwww.sec.govpersonalreports.lexisnexis.comwww.bankrate.comwww.help4srs.orgwww.organdonor.govwww.hospicefoundation.org

Content preview from A Guide to Elder Planning: Everything You Need to Know to Protect Your Loved Ones and Yourself, Second Edition

“Grow old with me, the best is yet to be.”—Robert Browning

This book is dedicated, as is everything I do, to my dear wife, Carole.

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