Irrevocable Funeral Trusts (IFTs), or differently phrased, Irrevocable Funeral Expense Trusts, allow persons to pay for their funeral and burial costs, also known as final expenses, in advance of their death. They are legal agreements that not only allow peace of mind knowing that funeral funds are available when needed, but they are also an invaluable Medicaid planning tool. Essentially, IFTs provide a way for Medicaid applicants to lower their countable assets and meet Medicaid’s asset limit for qualification...
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Category Archives: "Long-Term Care Planning"
19 Feb
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2018 Long-Term Care Reference Guide
Long-term care (LTC) planning is a significant concern for many
people across a broad range of demographics. The personal
nature of health care, the inability to predict how much care will be
needed in the future or how the care will be delivered, and longer
life expectancies can make for a challenging and sometimes
uncomfortable planning topic. Furthermore, costs for custodial
care are not covered by Medicare or traditional health care
insurance. As such, early planning and an effort to coordinate the
issue with other important financial...
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