Product Description

A guide for seniors, disabled individuals, and their families explains how to preserve personal assets while ensuring long-term care, covering such topics as interfamily transfers and trusts. Tour.

Product Details

• Amazon Sales Rank: #318360 in Books
• Published on: 1996-02-01
• Original language: English
• Number of items: 1
• Binding: Paperback
• 188 pages

Features

• ISBN13: 9780316103749
• Condition: USED - VERY GOOD
• Notes:
• Click here to view our Condition Guide and Shipping Prices

From Library Journal
A family coping with the serious illness of one of its members can be emotionally devastated. Not the least of their concerns is the crippling financial burden that accompanies a long-term health problem. Attorney Bove shows how to plan for the economic side of catastrophic illness. Bove walks us through the Medicaid morass, packing a small book with facts, definitions, and case studies that illustrate how to protect family assets when a loved one is entering a nursing home. He explains the laws governing Medicaid and Medicare and distinguishes revocable and irrevocable trusts as well as the role they play in preserving financial stability. He also discusses long-term care insurance, durable powers of attorney, and arranging for the guardianship of incompetent persons. Bove's book lacks the sample forms and model trusts included in Armond D. Budish's Avoiding the Medicaid Trap ( LJ 7/89), but is nonetheless a concise presentation of valuable information. Highly recommended for public libraries.
- Joan Pedzich, Harris, Beach & Wilcox, Rochester, N.Y.
Copyright 1992 Reed Business Information, Inc.

Customer Reviews

Stop! Do not buy this book- "updated" version is obsolete
I give the book three stars due to content, but the numbers are all obsolete. The information is now seven years old! OBRA laws have changed, gifting laws have changed, estate tax laws,...you name it. Save your money and buy soemthing that has been updated NO EARLIER than January '03. I am a financial planner specializing in this area, so I cannot- with good conscience- recommend that people adhere to the outdated information in the book- talk to an advisor who is up-to-speed on the new rules.

Worthless after Feb 8, 2006
Dear Worried Reader,
On February 8, 2006, President Bush signed a law called the Deficit Reduction Act of 2005. This law makes sweeping changes to the ability of seniors to transfer (gift) any assets to their children and grandchildren. Following the advice of any book written before that date can cause a catastrophic loss of Medicaid privileges when a senior citizen is most vulnerable..when they actually enter a nursing home. Do not use this book as a reliable guide to current law. elder law attorney Chicago, IL

Wonderful guide
I read 6 different books on this and irrevocable trusts when my dad went into a nursing home. This one was by far the easiest to understand. My parents had a revocable trust that was not worth the paper it was printed on. This book saved my family a lot of money. Unfortunately I lent it to someone who never returned it, so I am buying another copy to give to a friend.