Financial Advice From You Experts.

Where to get financial advice?

Don't limit yourself to a fee-only advisor. Get a referral to a good advisor. Advisors don't get better or worse depending on their fee structure. You're paying them one way or another and there are advantages to buying from different structures. I'd prefer fee-based over fee-only. Fee only advisors have no requirements to have had any securities licenses and also by not selling products they don't necessarily know the ins and outs of the companies. Also, if that advisor is going to refer you to someone else to buy a product you end up paying two people. Not saying that fee-only is bad, because again it comes back to the advisor in question. Just pointing out that slinging 'fee-only' around doesn't make sense.

You just need someone you can trust. Nothing trumps that...regardless of fee structure and assuming they actually know what they're doing.

Need advice from financial or insurance expert?

The look back period for a transfer of assets to an individual is 3 years and of transfer to a trust is 5 years.

There are some assets that are safe in most states. Her home, home furnishings, a car, a wedding ring and property in an income producing business. Some life insurance and burial plans are safe within certain limits. Depending upon the state she's in the state may place a lien on these properties when she passes, especially the home. They may count the home if she's single to determine eligibility but they probably won't make her sell it.

They count cash, stocks and bonds, investment and retirement plans. Also some cash value in life insurance. They will count the pension as income but will count the IRA.

This is much more involved so my advice would be to consult with an Elder Law Attorney to find out how best to protect her assets.

EDIT FOR ADDITIONAL DETAILS:

No, the will does not protect her assets. She will have to dispose of the assets if she wants Medicaid to pay. She will need to use the assets to pay for her care. When she has used up the value of the assets then Medicaid will step in and pay.

As I said, some states are starting to put a lien on some excluded property, such as her home. IF they do that her estate will need to settle the bill prior to distributing the property according to the will. The state will demand payment of the value of the home and other assets that may be available. You will not have to pay more than the value of the estate, which means her sons will not have to pay anything but they also won't get the property. The states don't do this in every case and in every state but they do have that option.

Sorry, but that's the way Medicaid works. To other people reading this: this is the reason for a long term care insurance policy. Medicare does not pay for long term care and Medicaid only will after you dispose of everything you've accumulated during your life, leaving nothing for heirs.

I need some financial advice?

I think you should go ahead and do wahtever you feel like needs to be done. Have fun while you're young and try to catch up after the honeymoon. You can help save the money you earn by eating the generic brands on groceries, not buying clothes unless you have to, turning off cable TV and internet access if you have to. If you both have cell phones, then there's no reason to pay for a home phone too. Don't use the dishwasher if you have one. Wash the dishes by harnd. It takes less time, soap, water, and electricity. And you know they'er clean the first time so you don't have to wash them over again. When you're not in a room, make sure everything in there is turned off so you don't run up a large electric bill. When it's warm outside, but no hot, just put a fan in an open window instead of turning on the air conditioner. When youre ready to start paying off loans, credit cards, and such, pay off the smallest ones first so they're out of the way and not racking up lots of new fees. You can focus on the bigger ones when the small one are out of the way. If you are both in school and working part time, make your meals at home and take them with you. Don't eat out all the time. Make it a special occassion when you eat out. That will save more money than you can imagine. These things may not sound like much, but do all of this for a year, and see how much more money you'll have to go to bills and more inportant things. Also, get the word out that you would like cash as a wedding present instead of wrapped gifts. These are all things that I try to do to keep the bills lower. And, they surprisingly work more than you might think. Each one is just a little bit, but they all add up together.

Question regarding financial aid. Experts advice appreciated?

I am currently a jr in high school in south texas. Well, i was wondering how can I receive financial aid (i AM a US citizen) without my parents filing income tax due to their immigrant status? In the financial aid applications says, i believe (i havent really seen one), that you need to prove your income. Well how can my parents do that? Can they file income tax? If so, how? I would really appreciate anyone giving advice in this question. My brother is a Sr in high school and well my parents dont know what to do since they have to show some kind of proof. Any information will be greatly appreciated

Credit card fraud question - need expert advice?

My mother and sister live about 100 miles away from me. There is a lot of drama, and I don’t have anything to do with my sister. My mother is disabled. She owns a home and has a little money. My sister lives next door to her, and frequently picks up my mother’s mail for her.

Sister has a lot of financial problems. Recently she opened 6 credit card accounts in mom’s name. As sis is the one picking up the mail, mom didn’t know anything about the cards until the collection calls started. All told, there has been over $20K run up on these cards.
One bank filed suit. Sis signed mom’s name on the certified mail receipt for the summons. Mom didn’t know she’d been sued and had a default judgment until she tried to get cash out of her checking account. The bank had filed for garnishment and emptied her account of $3 thousand.

Mom’s not willing to file criminal charges against sis. She’s afraid she’ll never see the grandkids again.

Confused and need real advice from experts.?

I love this girl(I was 23 and she was 20) , we were to gather for about 8 months and later she broke up with me due to some arguments. I tried to get back with her but she refuse to continue.3 months later she got a new boyfriend and they were going strong. I was so devastated but i believed she will realize her mistakes and come back to me. I could not move on as i loved her so much (she is my first love), i had faith that we will be back together. After 1 year 8 months, they had issue and they broke up. She tried to resolve the issue but that guy was not ready to go on. I was still in love with her and could not see her devastated and i tried to be close to her as a shoulder to cry on. She cries and tells me her problems. After a month a spoke to her n when i said that i still have feelings for her she was happy n we got back together. It went for 3 months and she told me that she can't forget the other guy and she loves him so much and that she is confused. I was very sad that she loves him more than me. She told me that she feels like cheating me when she is with me but thinking of the other guy and she also told me that she wants to try to get back with the other guy.I love her so much that her happiness is more important to me, so to make it easy for her i said i'll walk away from this relationship, she told me she feels bad that she put me in such a situation for the second time. She still wants me to be friends with her, which i can cause i love her dearly.

I still have faith that she will learn her mistakes and come back to me. But i'm confused to should i take her back if she returns or should i not.
I have mixed feelings, 1 side of me says that i just love her so much that no matter what, i'll take her back. Another side of me says that i should not take her back as she might do the same thing again. As the saying goes "Fool me once,shame on you.Fool me twice, shame on me", i don't want to make my self a fool. Please, i need real advice, I LOVE HER so so much.