UnThreaded | Threaded | Whole Thread (5) | Ignore Thread Prev | Next
Author: MEG Three stars, 500 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76075  
Subject: Nursing Home insurance Date: 11/14/2003 8:14 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Hopefully I am posting this on the correct board.
I like this board a lot and the information it you all provide.
here goes:


My Widowed Mother- in- Law has a “paid for” home (value $110,000)
An Ira ($65,000) with designated Beneficiaries.
Approx $180,000 in a brokerage acct (in her name alone)
Some variable annuities approx $80,000, with designated beneficiaries.
Some liquid day to day cash $20,000 (not in the brokers hands)
Social Sec income approx $1300/month.


She is investigating Nursing home insurance.
She is 73 yrs old and in pretty good health.

She does not want a Nursing Home to take all of her assets; she wishes to pass everything on to Her daughters (three).

Her home is titled with LIFE USE. It would go to her daughters if she no longer could care for herself.

The broker wants her to look at the home insurance as a way if protecting the acct that has the $180,000 value.

He says that the premiums could be paid from the annuities accumulations since the accumulations would be taxable to heirs anyway. Not sure yet what premiums would be or how much the annuities have accumulated.

Any ideas on this or any better ideas.


MEG
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (5) | Ignore Thread Prev | Next

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:
Macro Economics

The Deflationary Cycle Explained
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement