Posted on 08/05/2013 1:26:28 PM PDT by Chickensoup
I am planning to move to one of the Christian Healthcare coops that are legal under Obamacare. It is not insurance but all of them have a pretty good reputation of paying the bills. However, since we seem to be ruled by despots these days instead of rational law, there is always the possibility that the government will make these coops illegal and if that is the case, I would be uninsured, and if I am unfortunate, I would owe the medicinal industrial complex a lot of money.
The more I look at the Obamacare package and the direction of healthcare in general, there seems to be a focus on separating the patient from their assets. A very unfair thing when one considers how jacked up medical costs are in the non-competitive market. Mind you, I have no problem paying my bills; I just refuse to be fleeced. In order to access local state healthcare benefits here in my state, the state goes after one’s house and belongings.
I would imagine that this same process will be used to fleece patents. Obamacare and the states will work in concert to take over assets.
I have been to a lawyer to manage my estate. But what I realize that I really need is ASSET PROTECTION even more that I need estate planning. So if the long arm of Obamacare goes after my assets, there will be nothing for them to take. I know professionals with high liability do asset protection but there isn’t a lot out there that I have been able to find.
Your thoughts about ASSET PROTECTION would be valuable. No one seems to know much about it here, and it seems that it would be the best way to avoid unfair healthcare charges.
The more I look at the Obamacare package and the direction of healthcare in general, there seems to be a focus on separating the patient from their assets. A very unfair thing when one considers how jacked up medical costs are in the non-competitive market. Mind you, I have no problem paying my bills; I just refuse to be fleeced. In order to access local state healthcare benefits here in my state, the state goes after one’s house and belongings.
I would imagine that this same process will be used to fleece patents. Obamacare and the states will work in concert to take over assets.
I have been to a lawyer to manage my estate. But what I realize that I really need is ASSET PROTECTION even more that I need estate planning. So if the long arm of Obamacare goes after my assets, there will be nothing for them to take. I know professionals with high liability do asset protection but there isn’t a lot out there that I have been able to find.
Your thoughts about ASSET PROTECTION would be valuable. No one seems to know much about it here, and it seems that it would be the best way to avoid unfair healthcare charges.
You need to move your assets into a trust.
That trust will need to be in place for at least two years for it to have protection from being pierced.
Now is a great time to do that.
See an attorney.
One thing Mrs Tell and I have considered is donating our house and land to our church. We would reserve a joint life estate with right of survivorship in the property. We could take a nice charitable donation now and could not be kicked off the land. We have not done this yet, but it is a real possibility - ask your attorney. Of course our children may not be happy with this, but we will be safely dead.
I am told that the only trust that would work is one that I do not control.
And I am the person who works the assets to make my income.
The attorneys I have seen are interested in what happens after I die, now, not so much. Just not versed in it.
I have a post death trust in place to care for a family member who is compromised.
I cannot leave my assets to the church as nice as it would be.
Yes, a trust is the way to go — and best if it is a foreign trust. A US trust will likely be broken into eventually.
Whoever the attorney’s are they are idiots.
You need a living trust and you do control the assets or you can have your ex control it. /S
http://www.nolo.com/legal-encyclopedia/living-trust-faq-29036.html
There are things called charitable remainder trusts, where the charity just gets what is left after you and your wife die. I am not sure how good they are for asset protection, though.
Wasn’t going to get into foreign trust but, yeah, they are even more impenatrable.
Take a Nevis trust. It’ll cost $25k to set up but, once your trust is established for two or more years you are very probably safe from having your stuff taken.
If anyone wants to sue your trust they must first plunk down $25k to be deposited in escrow, on the island of Nevis.
Next, they will need to work through the court system in Nevis using a Nevis attorney. Even more Dineros.
They will have to pay all the costs of a civil suit campaign and there is the best part:
Even if they win there is no way to enforce it.
Oh, and there has never been a Nevis trust that was pierced.
Big money to get into and but, if you want to keep your stuff it’s the way to go.
I am a small potato but I will look into it.
You don’t need to do a Nevis or even any of the other Caribbean trusts. They are expensive and they really are for those with assets and cash that warrant the expense.
It’s insurance with the bill being paid once and updated from time to time.
Go to Legal Zoom and look into it. You can initiate a trust on your own or pay a trust attorney $1,500 to get you started.
The important thing to keep in mind is you are investing in a tool that will enable you to keep your stuff.
When setting up a trust you need to consider your dangerous assets and separate them into other trusts.
Your homes, businesses, automobiles, tools, guns, etc are what are called “Dangerous Assets” and when you are sued they will go after everything contained in the trust.
It is for this reason many people set up a separate trust for one house and another for another house. The same with automobiles. One for each.
The same with jewelry. If you have a substantial amount of jewelry you want to separate them in a different trust from your other assets and you can even break up those items into several trusts.
I have friends who establish a separate trust for each auto. They also carry 150/300/100 insurance with a million dollar rider and others don’t carry the rider.
If you are in an accident they can sue the trust the auto is owned by and once that trust is depleted, they are done and you can continue to live your life with all your other stuff.
It’s not much to set up the various trusts once the 1st one is established.
apostrophe alert: the plural of attorney is attorneys, not attorney’s.
Move to Mexico.
I get that alot...
IF you are over 62 & own your own home, you can do a reverse mortgage & take the money & hide it. Hide it in cash at your residence. NOT in a bank account that can be traced.
They cannot take the house from the reverse mortgage company. You can live there until you die.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.