LTC Insurance?

Discussion in 'Non Sun City Related Discussions' started by Emily Litella, Apr 18, 2015.

  1. pegmih

    pegmih Well-Known Member

    A Beneficiary Deed is for your home.
    Funds in a bank or other financial institution have Pay on Death (POD) or Take on Death (TOD).
    I recently read that you can now have up to $75,000 before having to go thru probate. I thought it was $50,000. Need to do more research.

    One thing I do know for sure is that a Reversible Trust is considered "cash" by medicare to spend down to $2,000 if in assisted living or such. Whereas an Irreversible Trust is not. However, caution should be used because once funds are in it, you can never, ever, get to them.
     
  2. pegmih

    pegmih Well-Known Member

    I just checked "Lady-Bird Deed".

    IMHO the Beneficiary Deed that Arizona has is better and AZ is one of the few states that has one.

    There is even a form on line that you can complete and mail in
    along with a small fee. I think it was about $5.00.
    Do some Googling and you will find the form.
     

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