Estate & Medicaid Planning Is Simpler Than You Think | Episode 11 Most people know they should have a will, power of attorney, or some kind of estate plan. But many families put it off because it sounds complicated, expensive, or like something they only need to think about when they’re older. In Episode 11 of The Middle Class Podcast, Moshe Alpert, CFP®, sits down with Paul Moskowitz, Esq. of Moskowitz Legal Group to break down estate planning and Medicaid planning in plain English. What happens if you die without a will? Who decides where your assets go? What happens if you have minor children? What does a trust actually do? And how can families protect themselves from the potentially enormous cost of long-term care? Paul explains the basics of wills, executors, guardians, healthcare proxies, and financial powers of attorney, including why some of the most important estate planning documents are actually designed to protect you while you’re still alive. They also break down probate, why families may want to avoid it, and how revocable and irrevocable trusts work. From there, the conversation moves into one of the most misunderstood areas of financial planning: Medicare, Medicaid, and long-term care. Paul explains why Medicare generally does not cover ongoing long-term care, how Medicaid eligibility works, what Medicaid lookback periods are, and how Medicaid asset protection trusts can be used as part of a long-term care strategy. They also discuss what happens when a home or brokerage account is placed into a trust, whether you can continue living in your home, and why simply transferring your house directly into your child’s name can create serious tax and creditor issues. The episode also covers step-up in basis, estate taxes, gifting, life insurance, estate liquidity, and why even families with significant assets can face financial pressure when much of their wealth is tied up in real estate or other illiquid investments. Finally, Paul discusses halachic estate planning and why Jewish families may want to coordinate their legal planning with a Rav. The takeaway is simple: Estate planning does not necessarily have to be complicated. But failing to plan can create unnecessary court involvement, family complications, tax consequences, and potentially enormous long-term care expenses. The goal is to understand the questions you should be asking and put the right documents and professionals in place before you need them. 🎥 Watch the full episode on YouTube:https://youtu.be/vlMZ8X0aBCY • What happens if you die without a will• Wills, executors, guardians, and beneficiaries• Healthcare proxies and financial powers of attorney• Probate and how trusts can help avoid it• Revocable vs. irrevocable trusts• Medicare vs. Medicaid• Medicaid lookback periods• Medicaid asset protection trusts• The cost of long-term care• Why transferring your house to your children can backfire• Step-up in basis and inherited assets• Life insurance and estate liquidity• Halachic estate planning Paul Moskowitz, Esq. is an attorney with Moskowitz Legal Group, a firm focused on elder law, Medicaid planning, estate planning, guardianship, and probate. Phone: (212) 419-0118Email: contact@moskowitzlegalgroup.comWebsite: https://www.moskowitzlegalgroup.com/ Moshe Alpert, CLU®, CFP®, ChFC®, RICP®, AEP®Founder & CEO of Ceremian Financial Moshe helps families and professionals make clear, values-based financial decisions around income, protection, taxes, investing, insurance, and long-term financial stability. Website: https://www.ceremian.com Produced & Edited by BIG Productions – Gidon OrmanContact: gi@bigprod.net In This EpisodeAbout the GuestAbout the Host
