Presentation on theme: "A Special Webinar on the ESTATE TRUST You’ll Learn How to Help your clients protect money from the Medicaid Spend- down by planning now with you. This."— Presentation transcript:
A Special Webinar on the ESTATE TRUST You’ll Learn How to Help your clients protect money from the Medicaid Spend- down by planning now with you. This webinar will teach you how to make an extra $10,000 Weekly with the Estate Trust. A Great Opportunity to help your clients and make a good income.
93% of all your senior clients don’t have long term care insurance
Leaving a Legacy is important to your clients at Death…
Did her Estate Planning in 2001 Financial Planner Family Attorney Neither of them talked to her about Long Term Care Issues or how to protect assets back in 2001. The Attorney prepared a WILL for her and the Financial planner tried to sell her stock. Instead, she bought an annuity.
Grandma’s wish was to make sure this $50,000 CD at the bank went to her Granddaughters. These were discretionary funds that she had designated with a POD to her granddaughters Granddaughter – Susan Granddaughter – Meg Age – 21 (college senior) Age 24 (professional model) Grandma thought the Bank CD with a POD on it would protect it from the nursing home. WRONG. The POD only allows the CD holder to name a beneficiary to avoid probate.
Grandma wanted to help both of them to pay off college loans from the CD Grandma entered the nursing home on September 18, 2007 with the following assets; Grandma did not own a home. Checking - $ 29,600.00 Savings - $ 49,000.00 Annuity - $ 21,450.00 CD - $ 92,000.00 CD - $ 50,000.00 *granddaughters POD CD - $ 34,800.00 Stock - $ 18,230.00 Total - $ 292,080.00 Cost of Nursing Home was $6,985.00 monthly or $ 83,820.00 Annually. After 3 ½ years, her money was gone and she was applying for Medicaid with $2000 remaining. Her $50,000 CD for the granddaughters was also Gone.
93% of Your Seniors are Potential Clients for the Estate Trust With Nursing Homes at a monthly cost of $7000 or more monthly. Assets could be depleted in a short period of time. Grandma had a CD at the Bank that she had designated to her two granddaughters. However, this money was still in her name and will be spent on Private Pay basis at the nursing home. She must spend down to $2000 to be eligible for Medicaid.
Now in 2007 Grandma enters a nursing home By the end of 2010 her money is gone She applies for Medicaid with less than $1,600.00 in her checking account
Grandma did her estate planning back in 2001 with her Financial Planner and Attorney. When Grandma died in January of 2012, there was only $1,254.00 left in her checking account. Her Family also had to Raise $ 8,000 for a Funeral Too. She didn’t do a funeral trust
Planning that would of solved these issues…What a Big Difference planning makes! Funeral Trust $ 10,000 Medicaid Exempt Estate Trust $50,000 IIf Grandma would of planned this back in 2001 when doing her estate planning with her attorney and Financial Planner what a difference it would have made. This Trust would have paid for her entire Funeral without the Family having to Pay for It. Funeral Trusts ARE MEDICAID EXEMPT! These funds would have been worth approximately $59,000 at her death. Since this trust should have been established back in 2001, these funds would be Medicaid exempt when she applied for Medicaid. It was past the 5 year look back on Estate Trusts.
When Grandma Applied for Medicaid Estate Trust $50,000 Established Sept. 10 th, 2001 Medicaid Caseworker Any Asset Given away 5 years or longer is Exempt Irrevocable Funeral Trusts are always Exempt Grandma is Approved for Medicaid while keeping the Funeral Trust for Burial and the $50,000 Estate Trust passes to her (2) granddaughters. The Estate Trust is now worth $ 59,500
What is the Estate Trust Single Premium Life Insurance Policy Issue ages 0-80 with Unity and 0-99 with NGL Guaranteed Issued – No Underwriting Premiums from $1000 - $ 60,000 with Unity Premiums from $1000 - $50,000 with NGL Medicaid exempt after 5 years Policy ownership is assigned to Irrevocable Trust Two Page Application – Simple and Easy to Write HUGE COMMISSIONS GREAT FOR YOUR CLIENTS Life Insurance Policy ownership is assigned to the Irrevocable Estate Trust. YOU CAN NAME BENEFICIARIES Insurance Company is Trustee Protected from the Medicaid Spend-down after 60 months of issue.
Funds should be discretionary Grandma had $297,000 in cash and an income of $1,950.00 per month. Taking the $50,000 CD and placing it in an Estate Trust made sense since these funds were designated to her two daughers. She still would have had $ $247,000, plus a good monthly income that was more than enough.
The Estate Trust is a Great Way to Help your clients protect assets by planning in advance. Suggest to Your Senior Clients that they Plan with the Funeral & Estate Trusts. It should be part of their Plan. Everyone wants to leave a legacy to their love ones! Call Our Office at 877-336-7782 for Supplies or Contracting for the Estate Trust or Funeral Trust Thank you for Attending Our Webinar Today on The Estate Trust
Supplies and contracting 877-336-7782 National Sales Office 715 W. Walworth Street P.O. Box 385 Elkhorn, Wisconsin 53121 www.delcous.com