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Advisors find it very helpful to use the first part of the year to envision where they want to grow with their practice in the year to come.  We set goals; we strive for a bigger next year than we had last year.  I have personally always found it helpful to do this.

Anthony Robins once said that “setting goals is the first step in turning the invisible into the visible.”

Some even call it making “New Year’s Resolutions” like people do when they vow to go to the gym more.  Sure some will hit the treadmill for a while, but we already know what happens to most of those people!

It is my firm belief that every advisor who claims to be a legal, financial or tax advisor that gives advice to seniors needs to have at least a working knowledge of long-term care Medicaid.  Ignorance of the long-term care Medicaid rues is not a defense to a malpractice claim.

MAKE A RESOLUTION: For 2014, I challenge you to add long-term care Medicaid Planning to your advisor toolkit.  You will find it beneficial in a number of ways and here’s just a few:

  1. Nearly ten thousand people turn 65every day in America and a growing number will need long-term care.
  2. The Medicaid spend-down has outpaced taxes, market risk and probate as the single #1 largest risk to a senior’s retirement assets.
  3. Most advisors give the wrong advice about the Medicaid spend down and the asset transfer penalties because they just don’t understand.
  4. The earlier a senior can plan for long-term care the more options they have to preserve assets.
  5. If you’re not ready to help your clients with crisis Medicaid planning, someone else will gladly take them from you!
  6. Medicaid Planning does not mean guaranteeing a person has to go into a nursing home.  Home care and assisted living have become a greater option and integrating Medicaid planning with the VA Aid & Attendance benefit can be a double bonus to your frail clients.

When we set a New Year’s Resolution, we don’t always get a lot help keeping it.  A lot of people can tell you that you need to lose weight, but few will meet you at the gym in the morning and help you work off the pounds.

So my challenge doesn’t go without help and assistance.  We provide the most compressive Medicaid Planning support in the country.

In 2014 I encourage you to take advantage of the following Medicaid Planning tools to help you get ahead in the New Year:

Practice Mentoring: Are you looking to add Medicaid Planning but you don’t know where to begin?  Do you have a Medicaid Planning case but you’re not 100% sure what to do with it?  We have the solution.  Through my mentoring program, I work with local advisors of all types to help them develop their Medicaid Planning business, including help with case development and marketing

Case Design and Support: Do you have a Medicaid Planning case that needs the help of an experienced advisor to design the overall strategy?  We can put together comprehensive strategies and help you walk your clients through what needs to be done.  We provide critical support for new attorneys and financial advisors as they grow into this area of practice as well as provide expert help to seasoned Medicaid Planners.

Learn Medicaid Planning: People have different learning styles.  If you’re the type that likes to hear something explained, then my Medicaid Planning course is right for you.  If you’re the type who likes to read and digest a topic, then my Medicaid Planning Guidebook will give you page after page of explanation of the inner working of Medicaid and solid practice techniques.

Medicaid Compliant Annuity Planning:Medicaid Compliant Annuity planning is alive and well in2014. But unlike typical annuities, Medicaid Compliant Annuities are a precision instrument that needs to be used delicately. One mistake and the annuity could cause your client a transfer penalty.  You can’t afford to make mistakes on your Medicaid Compliant Annuities. We can help support all of your Medicaid Compliant Annuity needs.

Funeral Trust Planning: Did you know that most life insurance has to be cashed in when a person goes into a nursing home?  Did you know that in most states you can put up to $15,000 in a funeral trust funded by a life insurance policy and it’s exempt from the Medicaid Spend Down? Did you know that there’s a company that sells the trust and the policy as a package deal? These are things our successful advisors know and use on a regular basis … and you can, too.

Becoming a Certified Medicaid Planner™:  One of my single proudest achievements has been the work that I’ve done over the past couple of years to help develop and elevate the CMP™ designation as a world class certification program. A CMP™ stands out in the field as someone committed to knowing the subject matter and committed to the highest professional ethics.

So in 2014 make your New Year’s resolution to add Medicaid Planning as part of your practice and let us help you stick to it!