Yep!! It's the tip of the iceberg folks!!!! The tip of the iceberg! A guy works his whole life to put something together for his family and it all goes away in the end. You can plan all you want and claim you are covered and all is well with the world, but with the costs of long term care over 5K a month and the number of folks needing care growing exponentially, the rules of this game WILL be changing. All it takes is ONE stroke of a pen and 30 year old plans go up in smoke. I predict the year requirement for asset transfers as well as estate taxes WILL be increasing in the next few years. I see LOTS more law suits, conflicts over assets, tax fights and much more of the financial burden of parental care being transfered to the children coming in the next few years. I bought a 4 point seatbelt cuz I think it's going to be a REAL BUMPY RIDE!!!!! If you doubt my words, here's my evidence. When I first joined the military the agreement was that if you served 20 years, all your medical expenses were paid for by the govt. WEELLLLLLL, 28 years later, we have copay's for prescriptions and are required to pay 20% of service costs up to 3K each year for medical coverage. I suspect we service folks will be paying more and more as time goes on. That may not sound like much, but the point is that the govt. changed the rules on us midstream and I see no reason to believe they won't continue to do so in the future. I suspect they will change the rules on everyone else as well, before too long. That being said, I hope to hell this is one more time I'm wrong.
