Quote:
Originally Posted by Porsche-O-Phile
Frankly I hope they do, but since it's there for the time being and we're all forced to subsidize it at the barrel of a gun through the IRS, one may as well get something back for it. As I said before, any estate planning attorney will advise this (as well as availing oneself of all other available resources). The objective here is to give YOU the option to decide how you want YOUR things allocated and how you want YOUR family/friends/charities/whatever to benefit from you life's efforts without it going to the government or to institutions that have simply gained political favor through aggressive lobbying efforts, payoffs, kickbacks and other shenanigans over the years.
If you really feel morally compelled to pay 100% out-of-pocket for nursing home care, nobody will stop you either. You're more than welcome to. However you will have everything seized and lose all your assets, then when it's all exhausted you'll be kicked onto Medicare anyway.
A trust is short money to protect you and your heirs from getting raped by the system. The government is NOT your friend here, as is the case most of the time - whether you want to admit it or not.
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It sounds like you and your estate planning attorney are depending on the government to be a very, very good friend. Good luck with that.
Personally, I don't trust the government that much.