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Asset Protection

Tuesday, June 18, 2019

Prepare for the SECURE Act


This has been under the radar for most folks, but be prepared. Last month, the U.S. House of Representatives passed the SECURE Act, a bill to change the laws on retirement savings. The U.
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Thursday, February 14, 2019

Your Beneficiary May Be A Stranger!



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Monday, February 4, 2019

Learning The Lingo of Long-Term Care

A couple weeks ago, the oldest man, aged 113, died in Japan. You can read about it here. Luckily for him, he died at home. No one ever says "I want to be in a nursing home!" but, for some of us, that will be the only viable option as we age.


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Tuesday, October 30, 2018

Changes At The VA


With Halloween tonight, we officially put the wraps on October and get ready for November. Aren’t we all ready to start shopping for the holidays?

November is a very American month, with two holidays paying tribute to important people and moments in our country’s history. And we will start with Veteran’s Day, just two weeks away. First things first, if you are a veteran, I want to thank you for your service. Our country would not be what it is today without people like you.
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Tuesday, August 7, 2018

Take A Second Look At Medicaid Trusts


If you’ve considered using a trust to preserve some assets while still qualifying for Medicaid—what we call a Medicaid Trust—but have written it off as too cumbersome or too restrictive, it may be time to take a second look. Why? Because there really is no better tool for “advanced planning” if you will need a nursing home in the future.
 
Medicaid Trusts aren’t for everyone, but a second look may allow us to see opportunities that maybe were not readily visible at first. Many clients shoot the idea down primarily because they don’t want to give up control of their assets.
 
But before you slam the door shut, think about your estate in a different way.


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Tuesday, January 30, 2018

Protect Your Assets


One of the top questions I get is, “How do I protect the inheritance I’m going to leave to my heirs or loved ones?” It’s a great question because it shows you’re thinking beyond just fundamental or basic estate planning. Instead, you are thinking about a legacy plan. With a legacy plan, asset protection is often used to ensure that what’s left to your loved ones isn’t squandered by future divorce, creditors, lawsuits, bankruptcy, spendthrift habits, addictions, etc. Asset protection is also used when a client is trying to protect part of the estate from being all spent on nursing home costs. 

Often times, asset protection planning involves the use of a trust.

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Tuesday, November 28, 2017

Does A Medicaid Trust Make Sense?


Ensuring your loved ones inherit part of your estate even if you need long-term care (nursing home, round-the-clock home care, etc.) is important to many of my clients. But how are you able to preserve assets in the face of nursing homes and Medicaid spenddown regulations? You might consider adding a Medicaid Trust to your estate plan.

You may be reading and thinking to yourself, “What’s the difference between Medicare and Medicaid?” It can be confusing to a lot of us, so you’re not alone. But they are two completely different programs, and the one most folks know more about—Medicare—does not cover long-term care costs beyond a couple of months.

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Wednesday, June 21, 2017

Long-Term Care: Should You Count On Uncle Sam's Help?


There’s no doubt about it:  long-term care planning is stressful and costly, causing many people to simply ignore it and hope for the best. But it’s to their detriment. Some private nursing homes can cost over $12,000 per month these days, and the cost of nursing care rises faster than inflation. When I speak to prospective clients and clients, I get a lot of anxious questions about long-term care and nursing homes, but my answers provide little desire to plan for this possibility. Why? Long-term care insurance is expensive, and many of my clients do not have ideal assets to establish a “Medicaid Trust”.
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Tuesday, May 16, 2017

Five Things To Know About Legacy Planning


We did a lunch & learn last week on IRA Trusts, something you newsletter readers have read about, courtesy of me, all too often. IRAs are potentially great assets to pass on, but only if structured properly. Unfortunately, there are many pitfalls with IRAs and inheritances.

One issue that comes up a lot, at these events and in meetings with my clients, is the desire to pass things along to heirs and beneficiaries, but the worry that comes along with that that the recipient will squander that gift.  Not too many people trust an heir, especially a young one, with a significant sum of money.


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Wednesday, February 22, 2017

Making Sense Of Long-Term Care


Why don’t more people plan for long-term care? It’s probably one of the more difficult items to plan for due to the cost, the complexity and anxiety that comes with the thought of aging. Most people I talk to figure they’ll age gracefully, never leave their home and get in-home health care. While that is possible in more cases than ever today, nursing homes are at 92% occupancy in Pennsylvania and new ones continue to be built.

I’ve never talked to anyone who tells me they’re looking forward to going into a nursing home or that even wants to contemplate it. But for some folks, it’s a reality that they will face at some point.

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Tuesday, November 1, 2016

Top 10 Estate Planning Mistakes


We’ve all heard at least one estate planning horror story.  Or we’ve seen one on TV.  The surprise mistress that is given a large cut, the one child that has been written out of a will or feuding family factions each producing a different copy of the will.  It all makes for great TV and great drama, but chances are, you aren’t leaving your estate to a secret lover and you don’t want your estate plan to create a lot of undue stress.  But despite your best intentions, there are mistakes you could be making – unknowingly – that could produce a lot of drama after you’re gone.


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The Law Offices of Jeremy A. Wechsler assist clients with Estate Planning matters in Willow Grove, PA as well as Abington, Hatboro, Dresher, Horsham, Bryn Athyn, Huntingdon Valley, Fort Washington, Jenkintown, Glenside, Oreland, Warminister, Wyncote, Ambler, Elkins Park, Flourtown, Philadelphia, Warrington, Cheltenham, Gwynedd Valley, Jamison, Feasterville Trevose, Richboro, North Wales, Blue Bell, Lafayette Hill, King of Prussia, Collegeville, Oaks, Phoenixville, Oxford Valley, Langhorne, Penndel, Bristol, Fairless Hills, Bensalem, Plymouth Meeting, Furlong, Philadelphia County, Bucks County and Montgomery County.

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| Phone: 215-706-0200

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