Todo el mundo tiene su nicho.

Los asesores financieros tienen un campo de especialización determinado, y la mayoría son muy buenos en lo que hacen. Sin embargo, cuando se trata de derecho de la tercera edad, Medicaid y planificación patrimonial, no hay sustituto para un asesoramiento jurídico sólido.

Estudio de caso:

Un jubilado concertó inicialmente una cita con un bufete de abogados especializado en planificación patrimonial y derecho de la tercera edad, pero un amigo de la familia era asesor financiero. Decidió trabajar con su amigo y canceló su cita con el bufete de abogados.

The financial advisor/friend recommended that the client take a certain asset, surrender it and pay the tax. As a result, he surrendered a traditional IRA and paid a tax on the surrender, because it was before he died. The financial advisor then advised him to transfer the traditional IRA to his children.

This turned out to be a huge and costly mistake.

Three or four months later, when he needed nursing home care, he rescheduled the appointment with the law firm. At that point he discovered that he had made a big mistake. He had taken a protected asset (the traditional IRA) and unprotected it. They had placed the money into two separate annuities, which, eventually, will have to be returned to his estate.

They lost approximately $50,000.

It would have worked out much differently had they contacted the law firm first.

Vincent J. Russo & Associates, P.C. helped the family come up with an estate plan. Then they were able to use a portion of the money to pay for their father’s care while protecting the remaining assets.

Everybody has their area of expertise. Ideally, these individuals or groups can work in conjunction with each other. As opposed to saying, “Well, this one is my friend and I trust him.” Instead, go to someone with a solid reputation who is working within their field, like the experienced team of elder law attorneys at Vincent J. Russo & Associates, P.C.

Where will you go for sound legal advice, estate planning and Medicaid issues?

Deanna M. Eble
Vincent J. Russo & Associates, P.C.
1600 Stewart Avenue, Suite 300
Westbury, NY 11590
800-680-1717