Income Taxes and Record Keeping ( tax ) Message Board

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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )

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To: Colin Cody who wrote (856)	3/31/1998 6:17:00 PM
From: posthumousone	Read Replies (2) of 5810

I would like to start a thread that deals strictly with Estate Planning. Subject 20051 My grandmother turned 85 and never "gifted" any money away. She had 300K. This past year my mom moved her to a senior citizens home. While there she fainted and was hospitalized for 1 day. The home would not take her back so she had to go to a nursing home. Well, the nursing home costs over 1600 a month!! Before your eligible for medicaid, you have to have no more assets. Ohio looks back 3 years to see how much money you have. Well guess what, that 300K will ALL go the nursing home!!!!! Leaving my parents with nothing and lots of stress working this through. Anyway I would like others to share tips and ideas on how best to transfer money to heirs without paying the govt etc. Trusts, convservatorships, gifting what is the best way? It appears that the best thing is for people to die broke.

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