Medicaid Planning is the process of restructuring assets in such a way as to gain payment for nursing home expense from the state in which the nursing home resident is confined. This type of planning is instrumental in preserving the life savings of U.S. Seniors.
Many brokers and planners fail to recognize this major, highly specialized market as a tool to gain business; and therefore, revenue. Brookstone Securities Inc.’s sister company, Platinum Financial Planning, Inc., has a history of exceptional planning and asset structuring for potential nursing home Medicaid recipients.
As a financial professional who knows the correct answers to provide a senior about what happens if a nursing home stay occurs, and no insurance has been purchased, you become an instant trusted advisor. In addition, to provide the correct answers, you must know everything about the client’s finances and legal documentation. They will gladly divulge the most intimate details of their legal and financial life. Isn’t that usually the hardest part of the sale?
In addition, if you choose to make Medicaid Planning a major part of your practice, the staff of Platinum Financial can teach you how to make calls on nursing homes to gain referral business from nursing home admissions and social worker departments. Platinum Financial has built a $750,000 fee business in this manner.
Finally, Platinum Financial can teach you how to structure an annuity in such a way as to allow a parent to gift money to a child and still retain complete control. This is a complicated structure that requires an annuity having the correct language and requires very specific legal documents. I can assure you that it is like nothing you have ever seen or heard of and can lead to large fixed annuity sales.
Ultimately, this is a great business, but requires a commitment to learning both the Federal guidelines and the guidelines of your particular state.
If you have a definite interest in this business, I will put you through a screening process and then a training process.
Antony L Turbeville, President, Platinum Financial Planning