Monthly Archives: July 2023

Medicaid is a joint program with the federal government and is run by each state (the rules are generally similar but do vary by state). Below is an example from the CLTC course (a 600+ page textbook to pass the test) to earn the “Certified in Long-Term Care” designation. By the way, it does not matter if it’s a first, 2nd, or 3rd marriage, but the point is that Medicaid does not recognize prenup agreements in any state. I’ve always … Continue reading

For years I’ve been touting life insurance as a unique asset class (we own 7 policies). Now let’s explore why I believe Social Security (and pensions for those lucky few) should be considered as another asset class too. When clients review their Social Security Planning report that I sometimes include in my fee-based planning, they are often astonished by the substantial benefits they can expect to receive over their lifetime. The total amount can exceed $1 million and even reach … Continue reading