Traditional Trusts Fail Families. Save The Cottage!

Summertime Stories

Remember Grandma’s Cottage? You learned to swim there. Caught your first fish (what do I do NOW?!). Stealing bacon for bait when you ran out of worms. The leaky rowboat. Crammed with your cousins in sleeping bags on the “living room” floor. Trading stories in the dark. Grownups yelling “Shut up and go to sleep!” from the patio. Waiting for the charcoal to get just right. Hotdogs on the grill. Toasting marshmallows. Fireflies. That particular musty damp smell. Whatever happened to that place?

Well, they put all us kids on the deed, but it was sold when… Grandpa went into the nursing home… Uncle Chuck went bankrupt… Aunt Susan’s kids kept trashing the place… Aunt Beth got divorced… Cousin Ed needed college money… We just didn’t go anymore… Many reasons, no more memories, no more stories.

But the Cottage can be saved. You can do it. Your kids and grandkids can live those stories, create those memories. Share experiences. Bond as a family. Build the stories they’ll tell the next generation. Crammed with their cousins, in sleeping bags, in the same “living room.”

Do Not Trade The Cottage For The Nursing Home

Most folks simply do not plan for long-term care. You have heard bits and pieces. Old lake friends forced sale to pay the bills. Horror stories. Bad luck. Tough. Sorry it happened to them. Could not happen to your family.

Clarity is the first step. Estate planning is not about the next generation. It’s about you. Right now. Preserving what you own. Protecting what you value. Traditional estate planning fails families. Most folks eventually need long-term care. Most folks eventually sell the Cottage to pay for it. Simple as that.

You can avoid nursing home poverty. Why isn’t it your top priority? How? LifePlanning™. This system acknowledges that middle class prosperity and independence are destroyed by long-term care costs. LifePlanning™ first protects the Cottage and other family assets. Once life savings are protected, the family can intelligently and purposefully plan for life choices respected.

Now the Cottage is protected and purposefully planned. Life choices respected. No threat from health care, lawsuits, or long-term care expenses. Now we are able to look to the future. Some fundamentals are key.

Estate planning is not about the next generation. It’s about you.

Cottage Life Cycle

Cottages have a life cycle that is remarkably consistent. Ignoring the Cottage Life Cycle practically insures failure. Most planning ignores the Cottage Life Cycle.

Little Kid: Grandma’s Cottage is a magical place: sunny days, puffy clouds, fish a-biting, campfires, friends, swimming. Let’s go! Glorious!

Teenage Years: Grandma’s Cottage is a stinky dump. Why do I have to go? Not cool. Get me outta here!

Young Adult: Bills, bills, bills. Cottage? Sorry: no time, no interest. Cash me in my share of Grandma’s Cottage. So, what if you have to sell it? I ain’t got time for that now.

Married with Children: Gee, whatever happened to Grandma’s Cottage? Too bad our kids won’t have that experience. We can’t afford a Cottage at today’s prices. Even the rentals are outrageous. Too bad.

Grandma’s Cottage begins and ends as the most desirable place in the world. But in the meantime, urgency overrules importance, and the Cottage is sacrificed. Bad luck. And it doesn’t have to be that way. You can have both nostalgic memories and today’s adventure.

Two Traditional Techniques, Two Ways To Fail

Families have failed for generations to protect the family Cottage. I blame the lawyers who advise poorly. You think they would have learned by now. You would be wrong. For generations, the most popular techniques are “last man standing” and the “corporate model.” Both facilitate failure.

Last Man Standing

By far the easiest, cheapest, most popular, and least likely to succeed: “Putting the kids on the deed.” Usually as joint tenants with rights of survivorship. Sometimes (usually by mistake) as tenants in common. Disaster! Joint tenancy equals no rules. Everyone can do anything. No one must pay. And you cannot get out of it. Except by death. Example: Grandma and Grandpa put Aunt Sue and Uncle Chuck “on the deed.” They pass on. Aunt Sue pays all the taxes, utilities, upkeep. Uncle Chuck brings his 30 closest outlaw biker chums for the weekend. Every weekend. Aunt Sue cannot prevent it. Cannot stop him. Cannot make him pay his “fair share.” And if Uncle Chuck lives longer than Aunt Sue, he owns it all. It happens. Failure. But it does avoid probate… whoopee!

Sometimes, when one kid has great financial need (real or imagined), the others will agree to sell the Cottage. Failure again.

Corporate Calamity

So how about some rules? Great idea! And that is the basis for the “corporate model.” Create a limited liability company (“LLC”). Now there are rules. But a new problem. The corporate model gives each beneficiary the right to leave. And to be paid off. Compensated for their share of the Cottage. That is when the corporate model fails. Sooner or later, someone wants out. And they have a right to money. Which the family does not have. Forced sale of the Cottage. Failure.

Remember the Cottage Life Cycle. At some point, each beneficiary will “need” the money more than the Cottage. My experience is that it only takes one. One kid to say “Cash me in.” And then the Cottage is sold. Memories last forever, but that’s the end of the Cottage experience.

A New Hope: The National Park Model

Weaknesses of the Two Traditional Techniques are painfully obvious. And have caused great pain in thousands of families. New hope comes in the National Park Model. It is simple.

Grandma and Grampa want future generations to have magical, irreplaceable experiences. Grandma and Grampa know Cottage Life Cycle. They have seen it in operation. They want to guarantee their legacy.

Here’s the idea: National Parks were established to preserve the irreplaceable. Fill in the Grand Canyon? There isn’t another one. Pave over Yellowstone? Gone for all time. But. Set these treasures aside. Prohibit selfish or short-sighted decisions. Focus on the far future. Now things look different.

You can’t “cash in” your share of Yellowstone or Yosemite, just because you don’t plan to go. Why should you be able to “cash in” the Cottage? And wreck it forever?

You can’t just throw down a tent and sleeping bag in a national park. You have to pay the expenses you create. Why should anyone freeload on the Cottage? Why not establish a budget and other mechanisms that will ensure long term viability?

That’s how dozens of families are now protecting the Cottage today. Rules for harmony. Preserving the past for the future. Pay as you go, while building reserves. No desperation. No leaky roofs. No unpaid taxes.

The National Park Cottage Trust works well in many contexts. The hunting property. The family farm. The townhouse. Clarity eliminates family strife. Reliable rules cement family relationships. In a world of conflict and chaos, wouldn’t it be nice to establish a safe haven? Traditions that will endure. Memories down through the ages. Without regret.

In a world of conflict and chaos, wouldn’t it be nice to establish a safe haven?

Taking Care Of Yourself Is Taking Care Of Your Family

Too many families have the story of the Cottage, the Farm, the Hunting Cabin that “got away.” Your family does not have to suffer a similar fate. You can be the author. Rewrite the future story of your life and your family’s. The National Park Model approach preserves resources, strengthens relationships, achieves your highest goals. And when your great-great-great grandchildren laugh with delight, learning to swim, fish and camp on the Cottage you provided for them… Well, I expect you’ll hear it, all the way over on the other side of the Great Divide.

Call (800) 317-2812

Medicaid Penalty Period Explained | Your Letters, Your Questions…

(Note: Not Legal Advice!)

“What can I do to protect a property transferred via quit claim deed 2 years prior to entering assisted living from Medicaid?”

Two years ago, my father transferred a family property… to me via quitclaim deed. Currently no one resides there. He may be entering assisted living and it’s my understanding Medicaid can seize property within five years of transfer for estate recovery… Are there any steps that I can take prior to him entering assisted living to protect the house? He does currently own a… primary residence.

The Answer Is: It is complicated, but there are things you can do.

Divestment Definition & Dilemma

Dad deeding the “family property” to you was “divestment.” Divestment is the “transfer of a resource for less than fair market value.” Dad must report all divestments that were made within 60 months (that’s 5 years) before applying for Medicaid. If Dad gave stuff away in the 60 months before applying for Medicaid, Medicaid will impose a Penalty Period.

Penalty Period Pain

Here is how the Penalty Period works. Medicaid says that for every $9000 Dad gave away, Medicaid imposes a one-month penalty. In other words, Medicaid will not pay for Dad’s long-term care for a month for each $9000 Dad gave away. The Penalty Period, however, does not begin until Dad is broke and in long-term care.

What It All Means

If the “family property” that Dad gave you is worth $90,000, the Penalty Period will be 10 months long. The 10 months begins when Dad has no more money ($2000) AND Dad is in long-term care. Medicaid will not pay Dad’s bill. Dad has the Homestead, but no money. The bill does not get paid.

Nursing Homes do not like to not getting paid. Nursing Homes sue people who do not pay them. Nursing Home sues Dad. Dad sells Homestead. Now Dad has cash to pay the nursing home bill.

Dad spends all his cash. Now Dad has no money. But Dad still has a PENALTY PERIOD! Medicaid still will not pay. Nursing Home still does not like to not get paid. Nursing Home sues Dad again. Now Dad has nothing.

Nursing Home sues you. If Dad had not given the “family property” to you, Dad could have sold it to pay his bill. Giving the property to you is called a “fraudulent transfer.” Ugly name, ugly result. You sell the property and turn the cash over to the nursing home.

When this cash runs out… Dad still has a Penalty Period! But too bad, so sad for the nursing home now, because Dad has been drained dry.

Let’s rewind the clock…

Solution #1: PACE TO THE RESCUE

Dad is still at home. Situation is not yet desperate. Is it possible for Dad to remain at home, if he received a certain amount of care?

Program of All-inclusive Care for the Elderly (“PACE”) might be the solution. PACE is Medicaid. PACE is administered by private organizations that manage the government/Medicaid dollars to keep your loved one at home. PACE does not provide 24/7/365 round-the-clock nursing care. But PACE enables thousands of folks to stay at home. Folks who would otherwise be in skilled nursing or assisted living.

REALLY GOOD NEWS ABOUT PACE: Right now, until further notice, PACE does not care about divestments. There is no Penalty Period. Dad keeps the Homestead. You keep the “family property.” Nursing Home gets paid by Medicaid. We all join hands… “I’d like to teach the world to sing, in perfect harmony…”

Solution #2: PAY THROUGH THE PENALTY PERIOD

This gets a bit complicated. Medicaid pays when Dad has no money. Medicaid says that income is not money. Medicaid says that certain payments received from certain annuities is income.

Dad still has a 10-month Penalty Period. But what if Dad has some cash? Like $90,000 of cash? Now he can pay for 10 months. But if he has cash, then he is not broke. If he is not broke, the Penalty Period does not begin.

We put the cash into the certain kind of annuity. That pays a certain amount in a certain way. When we do this, Dad is broke. Dad has no money. But Dad does have enough INCOME to pay the Nursing Home through the Penalty Period. At the end of the 10- month Penalty Period, the annuity is empty. And there is no more Penalty Period.
You keep the “family property”. Dad keeps his Homestead. Nursing Home gets paid. We all join hands… “I’d like to teach the world to sing, in perfect harmony…”

SOLUTION #3: LIST THE FAMILY PROPERTY FOR SALE
I just spent an hour and a half trying to write up this strategy in a way that does not lead to total confusion. I cannot do it. Suffice to say that there is a third strategy. The third way does work. I am happy to explain it in person. But I cannot make it fit on this page.

Call me! I will explain it. We all join hands… “I’d like to teach the world to sing, in perfect harmony…”

Simple Solutions To Complex Conundrums

Everybody wants a simple solution. So, do I. But that’s not always possible. The bad news is that we cannot make this stuff easy. The good news is that we can make it easy for you.

You Choose!

Applying for benefits does not mean Nursing Home Poverty or silly Spend Down. Learn how to preserve your loved one’s lifesavings, business, cottage, life insurance. Thousands of middle-class families have learned and use these techniques. Why not yours?

Got Questions? Get Answers!

GET ANSWERS NOW… THE CALL THAT CHANGES YOUR LIFE…
COME TO A WORKSHOP OR ATTEND A LIVE WEBINAR FROM HOME…
(800) 317-2812

Choose One Person to Be Your Power of Attorney | Keeping The Family Harmony

Your Letters, Your Questions…

(Note: Not Legal Advice!)

“Can I put 3 children as agents on a durable power of attorney? I want all 3 children to have the power of attorney.”

The Answer Is: Yes, you can. You can stick your hand in a blender, too. But gosh! Both are terrible, awful, no good, very bad ideas.

Observation #1 Most old estate planning documents that I review provide for 2 or 3 family members acting as co-trustees, co-personal representatives (executors), co-agents, and co-patient advocates. Usually, these documents provide that the co-whatever’s can act independently.

Conclusion A: Most people think it is some great honor to be chosen as trustee, personal representative, agent, or patient advocate. You do not like to choose among your kids. You do not want anyone to feel left out or unimportant.

Conclusion B: Most people think the kids will “work together.” You want all their voices to be heard. Nobody left out of the decision-making. Better decisions! Family harmony!

Observation #2 A kid will happily serve the first time. Ignorance is Bliss. The same kid will have to be dragged, kicking, and screaming, to serve a second time. These jobs are no fun. These jobs are a lot of work. Everybody blames you. Nobody understands. The kid can get paid, but most will not take it. Did I mention that there’s a lot of work?

Conclusion: Until you have served as a trustee, personal representative, agent, or patient advocate, you have no idea the burden that it is. The glory and honor of being chosen survives about 30 seconds. The grinding reality goes on for months. You are not doing any one any favors by appointing them.

Allegory: Fearsome Godzilla sleeps on the ocean floor. Silly humans explode atomic bombs. Wakey-wakey! Cranky Godzilla destroys Tokyo.

Like a monster, sibling rivalry slumbers in your children’s hearts. They have worked hard overcoming childhood traumas. Now they are friends. Even at Thanksgiving. Naming them as co-anything is an H-bomb. The only question is “Will Godzilla be satisfied with Tokyo or go on a rip-roaring rampage to New York?”

Unimaginable horror. “How much is that rocking chair worth?” transmutes into “That was Mom’s favorite chair!” “How the hell do you know, you never visited!” which transmogrifies into arguments over who broke my Chatty Cathy, who lost my GI Joe, and whose birthday party was better, and on and on. Bonus: Nobody cares how much the rocking chair is worth.

Proverb: A CAMEL IS A HORSE. DESIGNED BY A COMMITTEE.

You wanted My Friend Flicka. You got a lumpy, bumpy, irritable beast likely to bite and spit. You need a decision, you get impasse. You get impasse and now you are heading to probate court. And it was all foreseeable.

To Sum Up: Never, never, never appoint co-trustees, co-personal representatives, co-agents, or co-patient advocates. All pain, no benefit.

Blended Family Exception: In blended families with joint trusts, one co-trustee from each side can reduce suspicion and help communication. Stepsiblings do not have all that baggage. Tend to be more polite. Less pain. With both sides of the family represented, less chance of impasse.

Got Questions? Get Answers!

GET ANSWERS NOW… THE CALL THAT CHANGES YOUR LIFE…
COME TO A WORKSHOP OR ATTEND A LIVE WEBINAR FROM HOME…
(800) 317-2812

You Are Serious About Your Promises, So Are We

For Richer, For Poorer, In Sickness And In Health

The Big Dance – 1963

Betty and Wilma were like sisters. Without the sister drama. Since their first day at Lansing Central High, two years ago. Now Betty was organizing a dance with some Lansing Tech Junior ROTC guys. She had her eye on Barney, a fella who made that uniform look good. And Barney had a friend, Fred, a shy guy, just like her friend Wilma. Anything can happen at a dance, you know. When will Saturday get here?

One Thing Leads To Another

That dance was just rehearsal for the Big Dance Wilma and Fred, Betty and Barney would lead through their lives. After graduation, the guys got their union cards and entered the wonderful world of GM’s Lansing Car Assembly. The ladies followed.

Betty and Wilma did not stay long in the steno pool. Wilma loved to get things just right. Call it perfectionism if you want to, that talent got Wilma assigned to Quality Control. Eventually she headed the plant’s QC efforts. Betty’s organizational skills landed her in the plant manager’s office, as executive secretary.

Betty and Wilma did not stay long in the dating pool, either. Fred and Barney knew a good thing when they saw it. Before long they “put a ring on it” and got busy raising families too.

It was a sad day in April 2004 when the Olds plant shut down for good. They were all retired, but it still hurt. The guys made a pilgrimage to the old place every springtime. Both couples were doing fine. Their homes were paid off and worth about $175,000. With $200,000 in savings and $75,000 of life insurance, they felt secure. Not to mention having prepaid their funerals. Each couple had three kids and three grandchildren. They even like the in-laws!

Nothing Good Lasts Forever… Gathering Clouds

Just few years ago. Another perfect spring. Bright sunshine, crisp air with a bit of warmth, the smell of new growth, green leaves.

Two women of a certain age. Maybe sisters. Alike in many ways. Both were mothers and grandmothers. Respected. Looked up to. Reliable volunteers for church and school. You want it done right? Get Betty and Wilma on the case. Rapidly approaching their 50th wedding anniversary. Time flies.

You have friends like these women. Middle-class people who enrich the world. Generous spirits. Authentic kindness. Get it done attitude.

Nice homes, colorful gardens. Debt Free. Comfortable cash cushion (not that the kids would know). Coupon clipping and natural thrift. No extravagant or expensive habits. Except spoiling their grandchildren.

But what is going on with Fred and Barney? Why does Fred put the car keys in the refrigerator? Barney gets so confused with the simplest things. And it is getting worse.

2020… The Storm Breaks

Betty and Wilma are now their husbands’ primary caregivers. Barney and Fred, after many years as partner and confidant, father and grandfather, best friend and “accomplice,” have fallen victim to Alzheimer’s Disease. Heart-breaking. Life-changing. COVID isolation on top of it all. No description necessary.

Wilma and Betty take their wedding vows seriously. Better or worse. Richer or poorer. Sickness and health. They said it. They meant it. They lived it.

Maybe the kids don’t get it. But these women took JFK at his word: “We choose to do these things, not because they are easy, but because they are hard.” Alzheimer’s is hard. Alzheimer’s plus COVID is even harder.

Yes, the kids have their own families and challenges. They live out of state. They would like to help, but… TRAVEL BAN. Now they think it is a good idea for Dad to be “placed”. What is it with kids these days?

A Real Lifeline… Too Good To Be True?

A pleasant Sunday, May 2021, both women were reading the same article. An account in The Michigan Elder Law Reporter describing the Program of All-inclusive Care for the Elderly, known as PACE.

The Reporter claimed that PACE provided free, at-home care. All pharmacy needs with no co-pays, donut holes, delays, or frustrating paperwork. Specialist care. Respite care. Durable medical equipment. Supplies. Occupational and Physical Therapy. The list went on and on. It even claimed that PACE was intended to help folks just like her. On purpose. Family members caring for loved ones at home. Staying at home.

Most outrageous, though, was the bald statement that their life savings, home, life insurance… their security, need not be sacrificed. Their lifetime of shared work could be preserved for themselves, their children, their grandchildren. How could that happen?!

They remembered similar articles in the Reporter… published over 2020. And the warning that the special COVID rules would expire, but were then extended to November, then extended to April 2021, then extended “until further notice.”

Two Roads Diverged In A Wood, And I –
I Took The One Less Traveled By…

And this is where Betty and Wilma made different choices.

Betty said to herself, “Stuff and Nonsense! I pity anyone foolish enough to believe this… Promises, promises! Too good to be true! I don’t believe it! Fiddle Faddle.”

Wilma thought, “I heard of this last year and didn’t act. Could this be my second chance? Maybe I should find out more…”

Five years quickly passed.

And That Has Made All Of The Difference

Another fine spring morning. Betty and Wilma are still best friends. But not so much alike anymore. They made different choices. They got different results.

Pride Goeth Before A Fall — Proverbs 16:18

Betty was physically exhausted. Twenty-four hours a day. Seven days a week. Constant caregiving for Barney took a heavy toll. Emotional stress was worse. Bankruptcy. Lifesavings did not last long paying home health care workers. Cashing in the life insurance? No, she didn’t mind. That money was long gone.

Betty was still bound and determined that her Barney would never wind up in one of “those places.” Then the cash ran out. She gritted her teeth and took a loan against the house. Twice. Plus a line of credit. In desperation, she turned to cash advances on the credit cards.

In her pride, she did not share the burden with Wilma or her children. She chose a solitary journey. Until the inevitable day when the house of cards collapsed. She reached for the phone to call her eldest child. She never imagined living in a senior housing project. Well, at least the bill collectors have stopped harassing her.

She Is Clothed With Strength And Dignity; She Can Laugh At The Days To Come. — Proverbs 31:25

Wilma stood at the kitchen window. Watching her grandchildren play in the yard. The last few years had been tough. Fred did not recognize her or their children. She was making the best of a bad situation. But. Her health was good. The PACE folks were a blessing. No worries. PACE aides came out to help with Fred several times a week. During COVID so many years ago, they even helped with her grocery shopping. And housekeeping. Plus all the medical support. Wilma’s future was secure. She did not face it alone. No Poverty: life savings protected. No Charity: PACE was a return on all those tax dollars. No Waste: Her legacy will endure for years. “Well,” she thought, “sometimes “too good to be true turns out even better.”

I Have Finished The Course,
I Have Kept The Faith
2 Timothy 4:7

Several months later.

Betty’s funeral. Wilma thought about her best friend. It was tragic. Betty ran the race. Betty fought the good fight. At the ultimate cost to herself, she did what she believed was necessary. Rapidly pouring out the savings and accomplishments of a lifetime. All gone in the blink of an eye.

Is there anything more tragic than needless suffering? Striving to do something that did not have to be done at all? Wilma had to say it: “Betty killed herself with work and worry, all to keep Barney out of “those places.” And where is he going now? One of “those places.”” When a good person refuses the helping hand, it is more than sadness. When refusal leads to catastrophe, it is more than regret.

The next year.

After the preacher’s kind words at the cemetery, Wilma turned from Fred’s grave. Wilma too ran the race, fought the good fight. Wilma had been there for Fred to the ultimate end. Hospice at the house. Familiar PACE folks who supplied the hospital bed, Hoyer lift and other necessary equipment and services. Given fair warning, the kids made it in from out of town. It was sad, heart-breaking. But not tragic. Surrounded by family and friends. Secure. At peace. What did the Lord have in store for her now? Wilma did not know. But she looked forward to finding out.

The Difference

Most people, reading this article, will choose Betty’s path. Most people, faced with long-term care costs, close their eyes. Reject reality. Hope for the best. As lifesavings evaporate like a snowflake on a hot griddle. Why does the caregiver spouse die first, almost half of the time? Why do hard-working, prudent, frugal, middle-class folks accept nursing home poverty? Most of the time?

Not Chance, Your Choice

There is nothing inevitable about losing your home, cottage, business, lifesavings, independence, security. All of that is a choice. Despite what “everybody else” says. For over thirty years, people have told me, “I’ve never heard of this before!” “If this is real, why doesn’t everyone do it?” “My lawyer/financial advisor/brother-in-law/accountant/tax person/banker/best friend/fill-in-the-blank never said anything like this…”

Well, here you are. Now you know. No excuses. Wilma or Betty? You have the information, insight, inspiration. It is your turn. Ignore the message? Invite poverty? Or get the freely offered information. To make wise decisions. For you. For your loved ones.

No Poverty. No Charity. No Waste.
It is not chance. It is choice. Your choice.

Get Information Now. (800) 317-2812

An Estate Planning Story: Failure To Plan Is Planning To Fail

Seventeen years ago

Springtime in Michigan. Sunny, warm breezes, promise of summer. But a cold winter for Lansing Car Assembly. For 120 years, the factory churned out REO Speedwagons, tank cannons, aircraft machineguns, millions of artillery shells, muscle cars, and the last Oldsmobile convertible. GM’s most efficient plant. But the last Olds, a sporty Alero, drove off the line on April 29, 2004. It was over.

Fred and Barney walked away. Friends since their Lansing Technical High School days. They hired into the plant soon after graduation in the 60’s. Married to Wilma and Betty, Lansing Central girls they met at a Junior ROTC dance. The girls joined the steno pool soon after the boys went to work.

Many years later, the two men retired from the plant Ransom E. Olds founded so long ago. Pure Michigan. These older gentlemen were very much alike. Team players. They got the job done. Both had better-than-average careers. Personable, well-respected, and secure. Revered members of their church. Paid-for home in a nice neighborhood: $175,000. Savings of $200,000 from the days before 401(k) plans. Life insurance: $75,000. No debt. Conservative investments. Three kids. Three grandchildren. No bad habits (except spoiling the grandkids).

As new retirees so often are, both were filled with dreams for the future. Time to spend more time with the important people. Wives, kids, grandchildren. Tinkering in the shop. Volunteering at church. Traveling. Enjoying the retirement freedom and security they worked for, looked forward to, earned.

Last week. Still the same…

Every year, when the weather begins to turn, Fred and Barney return to visit. Nothing to see, really. Just memories.

They were still very much alike. Both healthy. Still devoted to their wives. Not all marriages thrive for fifty years. Both primary caregivers for their high school sweethearts. At home. Sadly, just a few short years into retirement, Wilma and Betty were stricken with Alzheimer’s.

But there are enormous differences.

Barney struggles to make ends meet. Living in subsidized senior housing. “On duty” 24 hours per day until his health broke. Exhausted. Retirement savings, Life insurance, Comfortable home – all gone. Betty went to memory care first. Now, the nursing home. Bank account emptied, retirement benefits cut, Barney needs every penny of social security.

Fred recently hosted his favorite (his only!) granddaughter’s wedding. “Uncle” Barney was an honored guest. Nothing high society, but really nice. One hundred and twenty close family and friends. Life savings intact. Independent, secure. Yes, he is Wilma’s primary caregiver. But she still lives at their home. And he has plenty of help.

Fred’s superpower is the Program of All-inclusive Care for the Elderly (PACE). PACE is the Medicaid program that provides services at home. No worries. COVID emergency rules let him keep the home, workshop, life savings.

Why Is One Desperate And The Other Secure?

Have you ever wondered, as I have, what makes this kind of difference in a person’s life? It does not seem to be natural intelligence or talent or dedication. I do not believe that Fred wants security, and that Barney does not.

Doesn’t the difference lie in what each person knows and how he or she uses that knowledge?

Every week we offer LifePlan™ Workshops and Webinars. Each week you are given a precious opportunity. You can say “Yes.” Yes to planning, security, choice. Middle class folks do not have to go broke. But traditional estate planning is broken. And that is the difference.

What is knowledge without action?

Nothing in the world can take the place of Persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and Determination alone are omnipotent. The slogan “Press On” has solved and will always solve the problems of the human race.

Calvin Coolidge

Years ago, Fred and Wilma invited Barney and Betty to join them at a LifePlan™ Workshop. Barney and Betty were too busy. Fred and Wilma made the time. Learned the lessons. Established their LifePlan™. It cost money. And effort. But Fred and Wilma (to be honest, it was mostly Wilma) persisted. And those law firm people made sure Fred and Wilma understood every step along the way.

When Alzheimer’s struck Wilma, Fred was ready. Health Care documents: Patient Advocate, Advance Directive, HIPPA releases. Even a funeral representative paper. Locked and loaded. Financial documents: Pantry Trust, Protection Trust, Financial Power of Attorney, Assignments, Deeds. Fort Knox safety.

Trusted professionals who do not charge by the hour. Everything quoted in advance. Friendly, reliable paralegals and attorneys. They sure seem willing to help. They say, “Always a free phone call. Always a free visit.” Maybe it is all just an act! But it is a pretty convincing act. Over all these years. And they have been darn helpful. Like with that wedding planner’s contract… Maybe they mean it…

“Freedom’s just another word for nothin’ left to lose” — Janis Joplin

Barney and Betty’s son-in-law told them about free fill-in-the-blank estate planning forms and cheap on-line services. A dedicated helpful son-in-law, he even printed them out on his own computer.
Free!

Free. Except for the $200,000 of life savings. Free. Except the $175,000 home. Free. Except the $75,000 life insurance. Yes. Free. Except for a lifetime’s worth of work and savings. Free. Except for that.
Maybe Janis was right. The most expensive things in the world are “free”.

LifePlanning™ works for you, your loved ones, your greater circle of friends. Have you heard about PACE or the new COVID emergency rules anywhere else?

Heartfelt Thanks To Geraldine T. Richardson – Special Contributor

I wish to recognize Geraldine T. Richardson (not to be confused with the other Geraldine Richardson who is a fine person but has no middle initial) for her inspiration. Geraldine has personally experienced, in her own family, the difference LifePlanning™ can make. I think it is fair to say that she is a little frustrated that more folks do not take advantage of these opportunities. (Hey, I’m doing the best I can!) When I asked Geraldine what more we could do, she said “Tell them, David! Tell them!” “How?” I replied. “Tell them about real families! But change the names…”

Call The Lifeplan™ Hotline Today at (800) 317-2812