Page 33 - OvertonFuneralHome_Mag
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terminates, the house may be sold by her
trustee, and the full proceeds from the
sale - all $400,000.00 - are distributed to
her heirs as per the terms of Rose’s trust.
It is important to understand that there
is a statutory “look back” period which
you must surpass in order for the trust’s
benefits to apply to your particular
circumstance. At the time of writing, the
period is five years. Had Rose gone into
the nursing home within that window,
she would have been subject to a
penalty.
As such, it is essential to plan as far in
advance of any major medical ailment Casket selection room
as possible. It is never too soon to
plan properly. As the above example
demonstrates, proper planning is
tremendously beneficial to your loved
ones, and can be the difference between
leaving a substantial financial legacy
to benefit your family, or paying that
money over to the government, or other
unrelated third parties.
Overton Funeral Home, Inc. - Page 33
