CFP

By Investopedia AAA

Incapacity Planning - Answer Key

1. D

Eligibility requirements for Medicaid are based on income, assets, children under your care and medical needs.

2.
C

Life insurance for an elderly single client concerned about health issues should not be on the list of top priorities. He may even have a hard time qualifying for long-term care insurance if memory loss has become too severe.

3.
A

Springing power of attorney goes into effect after incapacitation. Limited and special powers are identical.

4.
C

Supplemental (special) needs trusts and fixed life annuities can both provide an income stream for the lifetime of the disabled or mentally ill individual. Introduction

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