Every day, the news talks about the fiscal impasse we’ve hit and which tax cuts will be ending in just mere weeks. One way people are trying to get around this is by giving away all their money to their children or other relatives so that they can become eligible for state-run health care known as Medicaid.
Insurance expert John Carter talks to Family First Editor-in-Chief Marijo Tinlin about this new “savings” program that many people have been speaking to their financial advisor about and the risks that go along with that (one of which includes the fact that the government isn’t good for their debts).
Carter is the president of Nationwide Financial Distributors Inc and a board member for the Insured Retirement Solutions.
Listen to his thoughts and ideas about what families with aging parents can do to address their parents’ needs without risking their future financial stability.