GUIDELINES ON WHEN AND HOW TO USE ANNUITIES IN PUBLIC BENEFITS PLANNING

Many financial planners use annuities in developing a plan for the financial goals of their clients. However, few realize the opportunities that exist in the area of planning for public benefits such as long-term care Medicaid (which helps pay for nursing homes, care at home, drugs, etc.) and veteran’s benefits (available for non-service connected disabilities such as assisted living expenses or if the wartime veteran, or their surviving spouse, is homebound).

As a result, we have attempted (the rules are somewhat complex and detailed) to develop guidelines of how annuities can be used to preserve the assets of the potential public benefits applicant, the timing of the purchase and the type of annuity to be purchased in various situations.

If interested in seeing these guidelines, click here.

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