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Non-Tech
Estate Planning

An SI Board Since March 1998

Posts	SubjectMarks	Bans
36	4	0

Emcee: posthumousone	Type: Unmoderated

Introduction Compact

I would like to start a thread that deals strictly with Estate Planning.

My grandmother turned 85 and never "gifted" any money away. She had 300K. This past year
my moved her to a seniour 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 runs 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?

Go to reply# or date (mm/dd/yy):

Reply	Message Preview	From	Recs	Posted
36	Thanks for the reply, just trying to gather as much info as i can before i see	posthumousone	-	6/10/1998
35	Post, if these questions are for real you really ought to sit down with a good	Kenneth Kirk	-	6/10/1998
34	Oddball Tax questions My grandma is in a nursing home. If my parents take her	posthumousone	-	6/7/1998
33	Fred Thanks for answers re. identification of stock sold if inherited and also	MJ	-	4/8/1998
32	From experience, you write "inherited" for the date if it's your	voodooist	-	4/7/1998
31	Taxboy Not as response to current question. But a new question. Spouse died	MJ	-	4/7/1998
30	I usually do not press a client to buy life insurance to make up for the loss o	Taxboy	-	4/6/1998
29	There are estate lawyers who recommend buying the cheapest term life insurance	voodooist	-	4/3/1998
28	The trust you referred to is a "QPRT" or Qualified Personal Residence	Taxboy	-	4/3/1998
27	Even if no federal taxes are due, depending on your state you may owe state inh	voodooist	-	4/2/1998
26	Gary, I just stumbled onto this thread, and I'm so glad I did. My 91 year	voodooist	-	4/2/1998
25	If your taxable estate is less than $625,000 and you have not used any of your	Taxboy	-	4/2/1998
24	The exemption is $625,000 for decedents dying in 1998. It increases to $1,000,0	posthumousone	-	4/1/1998
23	Thanks, I was using last years! Too many taxes this year, my head is spinning!	Robert Meany	-	4/1/1998
22	In California, custodial accounts can be disposed of by the beneficiary at age	Taxboy	-	4/1/1998
21	The exemption is $625,000 for decedents dying in 1998. It increases to $1,000,	Taxboy	-	4/1/1998
20	Greta, "The attorney (a family friend) warned me that the federal governm	Colin Cody	-	4/1/1998
19	Gary, This is my GUESS: You are not talking a wealthy individual who has cho	Colin Cody	-	4/1/1998
18	You can give more than 10,000 per year per person and not be taxed. The amount	Robert Meany	-	4/1/1998
17	Colin, OK, this is what happened: My father went into the nursing home in 7/9	Greta Mc	-	4/1/1998
16	I think Peter has hit on the central question of this debate. My view is that	LPasko	-	4/1/1998
15	I don't understand why it is not right and just that people who can afford	peter michaelson	-	4/1/1998
14	If everyone believes that Medicaid, and the taxpayers generally, should pay for	LPasko	-	4/1/1998
13	i wish it were true but the lawyer we spoke with said NO WAY......all the money	posthumousone	-	3/31/1998
12	Greta, You said: Now that she's in the nursing home, and I'm assuming	Colin Cody	-	3/31/1998

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