How do the rich hide their money from government?

[billbeater]

trusts, bonds, safes, life insurance, swiss bank accounts?
How would you hide your money for others, say if you happen to go into a nursing home? at 7+K per month for a nursing home, money can be taken from you very quickly in new york state.
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i know the rx team will have some answers :howdy:
any bonds or paper stocks that would not have a track record of you buying it these days?
metals like gold and silver would be nice to store, but the price could fluctuate for the worse on you?

 

[punter]

I use a coffee can in the privy.

 

[billbeater]

the can would be better than expensive shady and selective long term care insurance... they will charge you 2 to 3k per year and they can terminate the coverage at ANY time...
##)

 

[bilbal]

Just do what Uncle Obama does, set up a trust fund. This way you can invest in companies owned by your political contributers and then when you get busted doing it, you can just claim that you had no idea because is was actually a "quasi-blind" trust fund and that your stockbroker was acting without your knowledge all along. yeah, I know, I don't believe it either.

I'd suggest an Italian accountant to help you keep your taxes to a minimum and an old Jewish accountant to help you keep it in your pocket. I cannot stress enough the value of a very sharp accountant.

 

[Willie99]

Seek out a very good elder law attorney. There are ways to protect assets from Title 19, often times very late in the game.

If you're "rich", it takes more than a little creativity to protect your assets.

Having said that, "rich" people usually don't have to worry about Title 19, they have the income stream to pay for long-term care without depleting their assets. Obviously, poor people don't have to worry either.

Middle America, it's the people that have a few hundred thousand that usually risk losing everything. It's never too late to consider some sort of plan, maybe you'll have to part with some assets, but not all.

I know an excellent elder law attorney in CT. If you need an attorney from another state, maybe he can refer one. Let me know if you're interested.

 

[nhoj]

Under the bed.

 

[billbeater]

thanks for the responses.
Willie thanks, if your guy can suggest somebody in western new york, or just new york in general; please PM me. that would be a great start. if not i will seek out accountant/lawyer.
your exactly right about the middle class, they get screwed time and time again...
hno:

 

[Willie99]

check your messages

 

[tiznow]

thanks for the responses.
Willie thanks, if your guy can suggest somebody in western new york, or just new york in general; please PM me. that would be a great start. if not i will seek out accountant/lawyer.
your exactly right about the middle class, they get screwed time and time again...
hno:

the middle class's anthem

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:cripwalk: