Episode 14 of Retire Hour. How do you prepare to pay for long term care? Danny Goolsby joins Matt to talk about a couple that was facing that question, and what the team at Market Advisory Group did to help them answer that question. Are you in the giving mood? Joshua Cicora, CPA at Market Tax Services, reviews gift taxes and what types of gifts are taxable. Open Enrollment for Medicare is quickly approaching. Bill Vawter of Market Medicare Advisors tells Matt, who should be paying attention to Open Enrollment and what they should be paying attention to. Gerald Eidelman of Eidelman Law Firm joins the show to talk about his book, The Inheritance Trap, and some of the insights it provides.
0:00 Intro
1:11 Danny Goolsby
1:36 Facing risks in retirement
2:07 Long Term Care and Medical Issues in retirement
5:38 Don't choose one spouse over the other
7:16 Factoring inflation of long term care - Forecasting
8:29 How to plan
11:41 Indemnity & reimbursement policies
13:20 Break
15:08 Joshua Cicora
15:29 Gifting & gift taxes
16:43 Giving (The Giver)
20:28 Gift tax & estate tax
21:02 Lifetime exclusion
22:51 What counts as a gift
23:52 What doesn't count as a gift
25:23 Break
26:50 Bill Vawter - Open Enrollment Periods
28:55 Medicare Supplement (Medigap)
32:32 Annual Open Enrollment
33:26 When a higher premium make more sense
34:57 Don't confuse Affordable Care Open Enrollment
35:50 Why you should review coverage every year
36:12 Break
38:10 Gerald Eidelman - The Inheritance Trap
39:35 Online options don't guide or give specific advice (right product for the need)
40:40 Powers - Powers of Attorney, Powers of Finance, Power of Health & Living Wills
41:14 Wills
43:17 Avoiding Probate
44:09 A trust is not always the answer
45:17 Assets & owning a business
49:24 Long term care, estate & Medicaid
50:45 Holistic Plan
52:36 Book highlights
53:47 Outro/Closing
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Book Links:
The Inheritance Trap
https://www.amazon.com/dp/1732273014/ref=cm_sw_em_r_mt_dp_hZuwFb2GGB029
The Investor Catch
https://www.amazon.com/dp/1732273006/ref=cm_sw_em_r_mt_dp_s6uwFbS6GSBRT
