The Life and Legacy Show
Hosted by Certified Elder Law Attorney, Tim Sechler from Pittsburgh, PA. On this show we discuss all things Elder Law, Estate Planning, Asset Protection Planning. Tim will teach you how to protect your life savings from long term care concerns and other financial pitfalls. We'll discuss changes in the law that affect you. You'll get Tim's take on what makes a good estate plan and what opportunities families sometimes miss. You'll learn about upcoming events for retirees around Pittsburgh. Sometimes, we simply discuss the things Tim finds interesting.
The Life and Legacy Show
Beating the 5 Year Lookback
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Tim Sechler
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Season 1
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Episode 176
"Once someone goes into a nursing home, there's nothing you can do." "You can't protect assets if you need care in the next five years." "It's illegal to give your stuff away within 5 years of the nursing home." These are all comments we have heard from our clients and other lawyers. Unfortuantely, they're all untrue.
The 5 Year Clock is one consideration for getting the government to pay for your nursing home. It's not the only consideration. Rules have exceptions. Let's learn a few strategies that might just save your live savings.