Estate & Asset Protection Attorney, Victoria Collier shares information that most people don’t know about leveraging their own finances to pay for long-term care insurance, which also is a benefit to heirs.
DECATUR, GA, August 8, 2018: Victoria L. Collier, founder of The Estate & Asset Protection Law Firm, has posted a new blog on her law firm’s website entitled “Leverage Your IRA To Pay For Long-Term Care Insurance And Benefit Your Heirs.” Ms. Collier informs her readers about a little-known government option allowing owners of an IRA to use funds for long-term care insurance.
Collier states, “Most people tend not to carry long-term care insurance coverage because of the high costs.” She adds, “However, what most people don’t know is that due to the strain on Federal and State budgets because of the use of Medicaid, the federal government has created very attractive tax incentives and options for people to leverage their own funds to pay for care.” “This means if you have an IRA, you may be able to pay for long-term care insurance using those funds tax-free,” says Collier, adding, “This is beneficial to you, the account holder as well as your heirs.”
The entire blog can be read at https://www.elderlawgeorgia.com/leverage-your-ira-to-pay-for-long-term-care-insurance-and-benefit-your-heirs/
About Victoria Collier
Victoria L. Collier, CELA founded The Elder & Disability Law Firm of Victoria L. Collier, P.C. to serve the legal needs of seniors when their health care needs increase. Victoria is also Co-Founder of Collier Scott Financial Solutions, LLC. At both firms WE BELIEVE that people should not have to lose everything they’ve worked a lifetime to earn and that every person is an individual who deserves respect and the highest quality of life possible, regardless of age or ability.
Victoria enlisted in the U.S. Air Force during Desert Storm, 1989-1995, and also served in the U.S. Army Reserves, 1Lt. 2001-2004, JAG Corps. Victoria is a national expert on the VA Wartime Pension for veterans and their widows who need additional assistance with activities of daily living and helping them qualify for and receive tax-free income from the VA to pay for it. Victoria graduated from Valdosta State University with a B.A. in Psychology and then University of Nebraska, College of Law. In 2014, Victoria was awarded with the Alumni Master Award from the University of Nebraska.
Victoria is a Certified Elder Law Attorney through The National Elder Law Foundation and has been named as the only attorney in Georgia as “Fellow” of the National Academy of Elder Law Attorneys (NAELA). Victoria was appointed by Governor Perdue to the Georgia Council on Aging, 2010 – 2016 and was awarded Dekalb County Veteran of the Year, 2013. She is the author of 47 Secret Veterans Benefits for Seniors; Paying for Long Term Care – Financial Help for Wartime Veterans: The VA Aid & Attendance Benefit. Victoria has co-authored several books: Blooper Episodes in Estate Planning, Don’t Go Broke in a Nursing Home, and Protect Your IRA: Avoid the 5 Common Mistakes. Most notably, Victoria co-authored the National Best Seller, The Road to Success, with Jack Canfield, author of Chicken Soup for the Soul series.
About The Estate & Asset Protection Law Firm
The Estate & Asset Protection Law Firm was established to serve the legal needs of retiring citizens. The Firm focuses its entire practice on providing strategies to protect independence, privacy, assets and taxes from the government. Victoria Collier has grown her law practice and financial services practice by providing excellent customer satisfaction with personalized wealth protection plans.