The Andrew Rosner Long Island Asset Protection Estate Plan
 

The Andrew Rosner Long Island Asset Protection Estate Plan maximizes your standard of living, quality of life, control over your assets,   dignity, protection of loved ones, protection of loved ones with special needs. income tax benefits, government benefits, and financial legacy to children.
                The Andrew Rosner Long Island Asset Protection Estate Plan minimizes your exposure to impoverishment, family disputes, probate, guardianships, legal proceedings, publicity, lawsuits, creditors, predators, and the high cost of long-term care.
                The Andrew Rosner Long Island Asset Protection Estate Plan also:
Designates guardians for your children
Maintains use and enjoyment of your property during your lifetime
Maintains your control over your property during lifetime
Provides for the distribution of your property in accordance with your wishes
Protects you during your lifetime, in the event of disability, and after death
Provides for the management of your property, by you or others, during your lifetime, in the event of disability, and after death
Can protect your heirs with special needs
Avoids probate
Expresses your wishes if you are in an incurable condition
Names a person to make health care decisions if you are unable to do so
Provides for the disposition of your remains
Grants others the power to act if you become disabled
Expresses your wishes how you wish to be cared for if disabled
Maximizes your income and estate tax advantages
Maximizes your qualification for government benefits
After your death, can protect your beneficiaries from divorces, creditors, predators, and themselves.

Client Goals in Medicaid Asset Protection Planning
For many married couples, a goal is to ensure that when one spouse enters a nursing home, that the spouse remaining at home is able to live the remaining years with utmost dignity, without having to suffer a drastic reduction in his or her standard of living.
For a single or widowed client, a goal is to be able to enjoy the highest quality of life possible in the event of an extended nursing home stay.
If there is an adult child or grandchild who is disabled, a goal is to protect assets for the benefit of that disabled family member,
Money protected through proper planning can be used to provide a nursing home resident with an enhanced level of care and a better quality of life while in a nursing home and receiving Medicaid benefits. Money saved can be used to pay for a private duty nurse, private health aid, private advocate, and to purchase things not covered by Medicaid, such as: medical devices, upgraded wheel chairs, transportation services, trips to beauty salon, etc.
Some seniors also wish to leave a financial legacy to their children.

Living Trust Planning
The goal of living trust planning is to protect assets from creditors, predators, probate, guardianships, legal proceedings, lawsuits and the high cost of long-term care, while obtaining maximum tax benefits, use of property, and control of property.
The best time to create a living trust is while you are still healthy and living independently.
A will is not enough protection. A will provides no protection against disability during life, no asset protection, no protection against the cost of long-term care, or against the problems of probate.
A revocable living trust is not enough protection. A revocable living trust provides no asset protection and no protection from the high cost of long-term care.
Other lawyers’ irrevocable trusts result in a loss of control of trust property when the other lawyers advise their clients to name someone else as trustee.
The solution is the Andrew Rosner Long Island Asset Protection Trust. It protects assets from probate, lawsuits, and nursing home costs, and does not lose control of assets.
The Andrew Rosner Long Island Asset Protection Trust provides peace of mind because the assets placed in the trust are
Immediately protected from lawsuits and general creditors,
Immediately protected from the cost of home custodial care
and will be protected from the high cost of nursing home care after 5 years.
The Andrew Rosner Long Island Asset Protection Trust may be used by your beneficiaries to enhance your dignity and quality of life if and when you need nursing home care.
Whatever assets remain in the trust after your death can be held for your beneficiaries, free of probate, in a trust designed to protect each beneficiary’s inheritance from lawsuits, divorce, and nursing home expenses of the beneficiary.

What is the Andrew Rosner Long Island Asset Protection Estate Plan?
It consists of the following:
Will
Power of attorney (with Elder Law provisions)
Living Will
Health Care Proxy
Disposition of Remains
Andrew Rosner Long Island Asset Protection Trust

What is the Andrew Rosner Long Island Asset Protection Trust?

It is an Irrevocable asset protection trust where the grantor:
Can receive income from the trust, or let it accumulate for others
Can live in and use any trust owned realty
Can sell any trust owned real estate and have the trust purchase new real estate
Can sell any trust owned property and buy new property to replace it
Can use any trust owned tangible personal property
Can drive trust owned vehicles
Can sell trust owned vehicles and replace them
Can operate any business in the trust
Can manage investment assets in the trust
Can maintain control of trust by naming self as trustee, retaining the right to change trustee, and retaining the right to change beneficiaries
Protects assets from creditors, predators, and the high cost of long-term care.

There are two issues to consider. First, the main thing you can’t do is have direct access to principal. However, you can have access indirectly, which is just as effective. Second, the trust will not protect you for Medicaid purposes during the 5-year look-back period for Medicaid. Accordingly, you may want to consider purchasing 5 years of long-term care insurance protection. Andrew Rosner is a Lawyer and an Independent Insurance Broker, so he can help you find the insurance policy that best protects you from the high cost of long term care, and which works together  with your Long Island Asset Protection estate Plan.

What assets should you place in the trust?
Assets that should be placed in the trust include: real estate, financial investments, ordinary bank accounts, business interests, and life insurance with cash surrender value.

Why do you need the Andrew Rosner Long Island Asset Protection Trust?
70% of seniors age 65 or older will need long term care. The average cost of care for a woman is about $650,000, and the average cost for a man is about $350,000. You can save that money by planning using the Andrew Rosner Long Island Asset Protection Trust.  The trust will provide a sense of dignity and security while protecting you from creditors, predators, and the high cost of long-term care.  If instead you make gifts to your children, you are at the mercy of your children and any present or future creditors of your children
For more information call me at (516) 228-1050
 

Why Most People Should Have a Trust

Trusts can protect your assets and save you and your family hundreds of thousands of dollars, and if you are very wealthy, millions of dollars. Trusts can protect you from the nightmare of probate, and from the horrors of guardianship.  Trusts can protect you from creditors, predators, and the high cost of long term care at home or in a nursing home.  Trusts can help qualify you for tax benefits and government program benefits. Trusts can efficiently and effectively pass your property to whom you want the way you want. Trusts can be private, unlike wills, and are more difficult to challenge than wills.  Trusts can protect your loved ones with special needs, and can protect your loved ones from creditors, divorce, and themselves. To find out why people are saying "You must have a trust", call me for a free consultation at (516) 228-1050

Medicaid Asset Protection Trusts can save your family hundreds of thousands of dollars!