Wasted $300 on a 'senior discount' financial planner who didn't know basic Medicaid rules

Six months ago I hired a guy who advertised as a senior care financial advisor. Paid him $300 for a consultation about my mom's nursing home costs. He told us to just transfer her house to my name and wait 5 years. I later found out from a free county elder law clinic that we could have done a proper trust that works in 2 years. What a waste of money. Has anyone else gotten bad advice from someone calling themselves a senior planner?

3 comments

3 Comments

tessap735d ago

Joined the club unfortunately. Ngl I paid $250 to some "retirement specialist" who told my dad to just sell his house and give us the cash. Found out later from a real lawyer that was the worst thing we could have done for Medicaid stuff. Honestly these people should be illegal.

cole_murphy4d ago

lol "retirement specialist" is just a fancy title for unlicensed salesperson half the time.

alice_allen54d ago

Check for "CFP" or "fiduciary" before paying anyone a dime.