Estate Planning Tip #17
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There is a lot that goes into estate planning. There are a lot of people involved, a lot of meetings, a lot of documents, and a lot of, well, planning! Sometimes with all of this involvement, you may just want to hurry up and be done with the process. Especially if you are not financially planning minded, estate planning can be a real chore, and things can be missed. Things such as planning for protection against estate recovery. Of course you should have the help of a reputable estate planner by your side to help you and guide you through this process. Iaian Filippini is a reputable estate planner and trusted financial consultant. In this article, Iaian Filippini and Filippini Wealth Management Group, Inc. will discuss how you can protect your home from something called estate recovery. Iaian Filippini and Filippini Wealth Management Group, Inc. have worked with many clients who’s only asset was their home, the house that they live in. For many people, this is a reality, says Iaian Filippini. They don’t have tons and tons of money, they just have their home (but they own it outright), says Iaian Filippini. But what happens if you need government medical assistance at the end of your life? Unfortunately, says Iaian Filippini, if you get medical financial aide, and then you pass away and are not able to pay it back, your home (or any other assets) can be taken. Iaian Filippini and Filippini Wealth Management Group, Inc. says that there is a way around this and it is called a life estate. According to Iaian Filippini and Filippini Wealth Management Group, Inc., a life estate is when there can be two owners on a property, but they are for different time periods. Iaian Filippini says that you would be the owner while you are alive, but another owner will automatically take over at the time of your death and cannot be taken. Iaian Filippini is a Santa Barbara local and the president of Montecito’s Filippini Wealth Management Group, Inc. Filippini Wealth Management Group, Inc. is located in Montecito, California. Filippini Wealth Management Group, Inc. was created by Alfred Filippini, who is also the late father of Iaian Filippini and his brother Alex Filippini (also worked with Filippini Wealth Management Group, Inc.). Iaian Filippini’s mother also lives in the Santa Barbara area. Filippini Wealth Management Group, Inc. is not a law firm and is not licensed to practice law. Iaian Filippini is also not licensed to practice law and is not an attorney. No advice is given or intended with this article. No legal recommendations or guidance have been provided. Contact a licensed attorney to review any legal questions or problems you may be involved in.