Senior Life Care Planning works with seniors and their families as advocates for their quality of life, whether at home, assisted living facility or nursing home.
Senior Life Care Planning works with seniors and their families as advocates for their quality of life, whether at home, assisted living facility or nursing home.
To increase your monthly income, please contact us about a FREE HANDBOOK about VA Benefits, written by David Wingate, an accredited VA Attorney, of Senior Life Care Planning, LLC, go to info@seniorlcp.com or if you require additional information about VA Benefits, visit our Senior LCP’s Website.
We also have a Blog on Elder Issues and Veteran’s Benefits.
If you are not receiving our Newsletter, go ahead and subscribe to our free NEWSLETTER to stay on top of senior issues.
We see a number of cases, where a financial planner (scammer) sells an annuity to an 80 year old plus veteran with a 20 – year surrender penalty. Consequently, if the veteran has to be placed in a nursing home, the veteran will not qualify for medicaid, causing huge financial repercussions.
The decision applies to annuities, which are irrevocable and nontransferable. In Lopes v. Starkowski [No. 3:lO-CV-307 (JCH)], the United Stated District Court in Connecticut ruled that the income stream from an unassignable immediate annuity is not an asset for Medicaid eligibility. As precedent, it cites a Third Circuit opinion —James v. Richman [547 F.3d 214 (3 Cir. 2008)]–which held that under the Supplemental Security Income program, “an unassignable annuity’s income stream would be treated as income and not as an asset.” But the new District Court decision went further, by stating that “it would be incongruent with the principles of…
Unfortunately, we see many horror stories by people taking advice from their neighbors, acquaintances and friends. Thus, we help you save thousands of dollars per month through our nursing home and estate planning strategies.
Frederick, MD 
301-663-9230