When a spouse enters a skilled nursing home—and may need Medicaid in the future—there are several well-known exempt assets. These include the couple's home, one automobile, burial reserves, and also any retirement accounts (including 401ks and IRAs) of the spouse not entering the nursing home. This exemption creates a very beneficial (and little-known) opportunity.
If the couple's assets are sufficiently high that the couple must spend-down assets prior to the institutiona
As defined benefit pension plans increasingly become retirement vehicles of the past, more and more Americans are faced with important planning decisions regarding their individualized retirement savings plans. While IRAs and 401ks are great for retirement saving, they are not naturally geared towards inheritance planning, which creates a need for clients to consider future planning. IRAs and 401ks are generally “non-probate” assets, which means the funds in those accounts pa