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PRESS RELEASE: Living Trusts Fail as Planning Tools for Long-Term Care Monday May 24, 10:01 am ET GLENDALE, Calif., May 24 /PRNewswire/ -- Living trusts can actually endanger the financial security of seniors when they become ill with cancer, stroke, Alzheimer's, Parkinson's disease, or other illnesses and need long-term nursing care, according to leading financial consultant to the elderly Zoran K. Basich. Basich, an elder-care lawyer and founder of Nursing Home Solutions, LLC, has spent 25 years advising seniors and their families about the pitfalls of living trusts and helping them arrange their assets into legal and safe estate plans. Basich's approach is essentially a reliable alternative designed to provide more extensive protection for seniors, avoid the problems inherent in many living trusts and enable seniors to take advantage of available funding for long- term care. See http://www.nhscare.com. "Living trusts can interfere with a patient's ability to obtain available benefits," says Basich. "Under federal rules and regulations, real property, stocks, bank or investment accounts, vehicles and income can be protected." Living trusts are incompatible with effective estate planning for long-term illness and inheritance preservation because the value of trust assets is viewed as cash available to privately pay the cost of a nursing home stay. But there are proven methods to ensure that assets are protected. It is wise to consult a competent lawyer or other professional before engaging in estate planning regarding long-term medical care, much like you would seek competent tax advice. Nursing Home Solutions assists patients and their families in obtaining Medicaid and corresponding state program eligibility for nursing home payment while preserving family assets without relying on living trusts. The company pioneered a multi-disciplined approach to long-term care, utilizing lawyers, case workers, discharge planners, nurses and social workers in a comprehensive style of helping seniors and their families receive long-term- care benefits. Devised centuries ago when the average life expectancy was 35 years, trusts served as a creditor's tool, ensuring the serf's estate paid all debts to the landowner. Most people died quickly from disease, famine or warfare, and no one anticipated the need for long-term care. Today's living trust contains an invasion of principal clause that can force the patient to use all trust assets for health care until the trust is depleted. Trusts are useful estate planning tools only if the beneficiaries die suddenly. Mr. Basich can be contacted at (800) 773-6467. Source: Nursing Home Solutions, LLC SOURCE: Yahoo News (press release) http://biz.yahoo.com/prnews/040524/lam017_1.html * * * ---------------------------------------------------------------------- To sign-off Parkinsn send a message to: mailto:[log in to unmask] In the body of the message put: signoff parkinsn