Christie Adams (01:11):

Our very special guest today we have with us, Ms. Nancy Cogar and how are you, Nancy?

Nancy Cogar (01:22):

I’m very fine. Thank you for having me.

Christie Adams (01:25):

Great. Well, we’re happy to have you. Why don’t you tell all of our wonderful listeners a little bit about yourself?

Nancy Cogar (01:31):

Well, I am an attorney and a partner at Samples, Jennings, Clem & Fields here in Chattanooga. And I specialize in elder law and estate planning. So really a focus on aging, aging issues, asset management, and protecting people’s needs as they grow older into end-of-life care.

Christie Adams (01:52):

Very important. Boy, if you’re in the middle of anything right now, I would advise you to stop and pay attention to this because this is information that I got too late for my parents, but it’s not too late for you probably. So make sure you listen in.

Ron Adams (02:09):

Yeah, there’s not much you can do about it when the time’s going past to act, it’s kind of like having faith, you know, you’ve got to have faith, but then you gotta act on it. Doesn’t do any good. Just say, Oh, I believe in this. Or I believe that you can believe in a squirrel if you want, but if you don’t shoot it in that case, well, let my dog chase it.

Christie Adams (02:30):

He doesn’t know how to catch him, but he does have fun chasing them.

Ron Adams (02:32):

He got close the other day. But the thing about planning is and I don’t know what it is but as an American we seem to resist planning. I had one person call me in and I’m retiring next week and I want to plan for my retirement. I said, well, we can do that and make it better. But at the same time, you needed to start planning 10 years ago or 20 years ago, and started putting money. Some of the money you got, you’re always going to need somewhere where you can’t lose it. And this is the kind of thing we talk about it. And one of the biggest losing things on a wall is if someone’s family goes into the nursing home and I’m sure Nancy’s probably seen an awful lot of that. And, do you have any particular cases about that.

Nancy Cogar (03:22):

I’ve got a lot of those cases, Ron, unfortunately, you know people are living longer and really the right kind of planning can keep you at home longer and keep you out of a nursing home. So that’s, that’s my priority. Generally, what I deal with when someone comes in, it’s either a family, that’s got an issue that came up with a mom or dad there’s been a diagnosis of dementia or something has happened. They’ve fallen and they’re in the hospital. Or they’ve visited over Thanksgiving or the holidays and they’re just not acting right. And they know there’s something wrong. So, they’re coming to me saying, what can I do in those situations a lot of times, it’s what I call crisis planning. The other side of the sword is more long-term planning and that’s really effective as far as asset management. Because as you know, if you go into a nursing home it’s very expensive here in Chattanooga, it can be more than $10,000 a month. So you can go through life savings, you know, in the better part of a year.

Christie Adams (04:33):

Yeah. For my parents that are both in it’s more than 14,000 a month for the two of them.

Nancy Cogar (04:41):

And, and I don’t like that as an advocate for older people. I know they’ve worked all their lives to save money, buy a house and pay their bills. This baby booming generation is typically the type of person that saves, understands the importance of saving and paying their bills. So now they’ve got their nest egg that they wanted to leave a legacy for their children, grandchildren, and they’re diagnosed with something that looks like they’re going to have a long term healthcare issue. So it’s not an easy nut to crack. But the best thing is that there are some strategies in place, but, but as you said, Ron waiting is not wise.

Ron Adams (05:25):

No, that’s not a good strategy at all, because all that does is, it gets costlier for you.

Nancy Cogar (05:32):

It Reduces your options.

Ron Adams (05:34):

Yes, It does reduce your options. It really does.

Christie Adams (05:37):

And you know, you were saying that people are living longer, which is true. We are living longer, but not, and we’re healthier to a certain point. And then there’s the tipping point. And even though we’ve been healthy up to this point, say we’re 80, even 90, but now we have a lot of years of not good health, but not kind of health that’s going to kill you. It’s like a lot of dementia, things like that, where you will need care. You’ll need some long-term care. So like you said, long-term care is very expensive.

Nancy Cogar (06:15):

Quality of life also applies with this because when a family comes in and I have to consider who my client is, but when a family comes in and I’m looking at the best interest of the aging person that’s having these issues, of course their first option would be to be around their family most likely and be at home where they’ve lived for 40, 50 years. So that’s the priority. And then it’s really relationship building and looking at, how do we age better? I’d say, aging more gracefully in a way, because if you do that, then you won’t have as many of those issues where you had an unexpected fall. You know, if you make improvements to your house and some of those things improvements to your house are our spend down items.

Nancy Cogar (07:08):

And we can get into some of that for purposes of potential eligibility for Medicaid or TennCare here in Tennessee. But really you need not to go it alone. I have so many people, I just want to preach for a moment. I am so glad people that come to me after the fact where they’ve gotten a cheapo power of attorney or they’ve printed something off the internet or they’ve got a generic document and they have all kinds of trouble and now mom or dad is incapacitated and they can’t do anything to help because the document doesn’t work.

Christie Adams (07:48):

Yeah. Or they try and not hide their money. I’m not saying they were trying to be illegal, but they’re trying to like, well, we’ll give it to the kids so that we can qualify or we’ll do this one. Not understanding a look back period.

Nancy Cogar (07:59):

Yeah. They’ll say, well, I can just quit-claim my house to my kids. I want them to have it anyway. Don’t do that. That’s called a fraudulent transfer.

Christie Adams (08:10):

Good to know. Yes. And don’t put your kids on your house title with you either.

A Revocable Trust Isn’t Protecting Much Of Anything

Nancy Cogar (08:20):

No. you know, there are some strategies for real property. You know, and typically I hear, what about a revocable trust? But a revocable trust is revocable and I know Ron, you wanted to talk about trust a little bit, but the reason it’s revocable is because you still have control over it. So that means you can move it out of the trust. So it’s really not protecting much of anything. If you’re trying to protect it from, you know, Medicaid or something like that as a strategy.

Chad Sontag (08:53):

As far as specifically talking about when managing assets for nursing home requirements.

Nancy Cogar (08:59):

Typically those types of trusts where you move assets for the right purpose in order to help your money protect you longer have to be third party trusts. That means someone other than you as the trustee and that money can go to benefit you and your care. Because as we all know, with health insurance, they don’t cover everything. And you can imagine that the government, if they’re in charge of your care, they can have a few objections with things that are coming.

Christie Adams (09:33):

And they’ll charge you for it. 

Nancy Cogar (09:36):

That’s why I preach about that too. It’s okay to put some money aside for your care. That’s what the money should be used for, you. And then you can build some estate planning into that where you have beneficiaries after you pass away. And it can go to your children, charity, your church, there’s all kinds of strategies, but doing nothing is guaranteeing that you’re going to lose.

Ron Adams (10:01):

Guaranteeing nothing. Yeah. I see a lot of people get into situations like that. And, like I say, there’s a lot of different ways you can do that. Now the insurance companies have had a real hard time trying to keep up with the actuaries, have a hard time trying to keep up with the cost because the growth and change in nursing homes is unbelievable as far as cost goes and everything. So they’ve come out with some newer policies that would protect you first for being at home, which I’m a real advocate of. We had Christie’s mom and dad home for seven years and you’ve got to have help. You had to have help come in. I mean, you don’t need help and you wouldn’t need to be in a nursing home anyway. So you are sure going to need help.

Christie Adams (10:50):

And it’s the help that’s expensive if you want good help. And they’re worth every penny. If you have a good caregiver, they’re worth more than you can afford to pay them. Trust me, there are a lot of bad ones out there. So if you need to find a good one, I know one, if you’re looking for a caregiver, call me.

Ron Adams (11:07):

Yeah, we were using a couple of agencies and we’d get almost a different person nearly every day and have to go through the same thing again, it was just ridiculous.

Nancy Cogar (11:18):

And if you’re dealing with a parent with dementia, then that’s reintroducing them to a stranger in the house.

Ron Adams (11:24):

That’s not a good thing. It’s a very hard thing to do, but there are policies that will pay for an X amount of dollars. They’ve got some that pay quite a bit now. And usually when someone asks me about it they don’t have any understanding. It seems like they’re insuring to keep from losing everything. Because like you were saying a while ago, losing everything when someone goes to a nursing home is very real. And a lot of times in less than a year, their money’s just gone. So a lot of times people are saving for a rainy day or this or that. One of the best rainy days, they could have something that would pay for the nursing home because that happens an awful lot.

Christie Adams (12:14):

If you have any questions for any of us, just give us a call at our office (423) 710-2009. We will make sure it’s routed to the right person to return your call. And if you’d like to make an appointment with us at any time, the appointment is free. Not, I’m not speaking for Nancy here. I’m speaking for One Family Financial and our number is (423) 710-2009. And you can find us on the web at: 1familyfinancial.com.

Chad Sontag (13:12):

Yeah, so, we have some really good information from Nancy and I kind of wanted to dive a little bit deeper and maybe go over some of the specific asset classes or things that people can do, what their options are. We talked about some of that crisis response, when, when all of a sudden a loved one is diagnosed with a medical condition or they’ve fallen, or something that we can’t really plan for. And people that haven’t already thought about it in advance are kind of limited to what they can do, but what’s kind of a typical setup you see, as far as assets that a lot of individuals that come to you have, and what options?

Options for Assets

Nancy Cogar (13:55):

Typically what I see is someone coming in where their house is their biggest asset. A lot of times it’s paid off so it’s free and clear of liens. And then they’ll have one, two, maybe a handful of bank accounts, checking account savings account and some CDs and there’s significant money in there. So it’s not doing much from your standpoint, Ron, but they’ve got, say that’s the bundle that I see and you may be wondering, why does a lawyer need to know what kind of money I have? Are they trying to get my money? These darn lawyers? No, that’s not the reason. The reason is different assets are classified in different ways by the government. So a house is exempt as long as you’re living in it.

Nancy Cogar (14:55):

And that includes the spouse that stays there. I get calls from people often saying my mother or my wife or so forth is going into a nursing home. Are they going to take my house away? No, maybe not. Isn’t that awful to have to qualify that? The government states that it’s against public policy to make someone homeless. So from that standpoint, they won’t take your house away while you need it. Each state has different recovery rights. So if you’re in Georgia, don’t listen to this, right now. Tennessee is a limited recovery state, which means that TennCare, which has Medicaid in Tennessee can only recover after the second spouse dies. So that means that if you go into a nursing home and well, spouse stays home you’re not going to lose your house. I mean, you might, if you make other bad decisions, but in terms of TennCare you won’t lose your house.

Nancy Cogar (16:11):

And the second spouse, if they become ill and need to go into a nursing home, they will qualify for TennCare, but the children that get left behind and the will that promised the house to Johnny, they’re the ones that are going to have to deal withTennCare coming in and can set aside that kind of directive in a  will, and can bring a house into a probate for it to be sold. And that’s where you see that. Now I didn’t mean to move away from what we were talking about because that is the primary asset typically. 

Christie Adams:

So TennCare does want to recover what they’ve spent at you? 

Nancy Cogar (17:01): 

Yeah, they have to. Yeah. I mean, if you, you get a hundred thousand and dollars in benefits they expect it back. They won’t get it back typically in Tennessee until you pass away. But they expect it back. That’s part of that welfare reform act that was passed in Washington back in, I think 2009, that’s the same reason that the government seeks reimbursement for child support that’s paid out, so it’s the same law. And that makes sense. If you get something you should be responsible for it. So the other assets would be bank accounts. And I’ll see, like I said, a significant amount of money in those bank accounts. And then I go through this education process of what else can you do with that money from an estate planning standpoint to not only protect it, but protect it from being immediately spent down and allow it to last longer so that you can pay for things that may come up. And those are those trusts that we see in Tennessee, if you have more than $2,100 in income a month typically, and this changes every year and you go into a nursing home, you’re going to have to contribute that $2,100 to your nursing home care.

Nancy Cogar (18:15):

So what we do is we set up something called a Miller trust, and that money goes into that Miller trust every month is kind of an accounting vehicle. And it’s, say TennCare pays the other 10,000, they’ll pay the other portion. And that’s done until you’ve depleted your income. There are exemptions and there’s a whole mathematical calculation for what the spouse at home gets to keep. So it is very bureaucratic of course, because of the government, but I don’t want to confuse people. But those trusts are helpful because say, you’ve got, for instance, $200,000 sitting in a bank account savings account, that’s not earning much interest. If you move that over into an appropriate trust, say, a third party, supplemental needs trust or something like that, it will go to supplemental needs for you. You can’t control it.

Options Available From A Financial Standpoint

Nancy Cogar (19:18):

You’ve got to appoint another trustee. And that whole fiduciary issue is another thing that we could talk about for a long, long time. But you could have a child, you could have a banker, you could have someone you trust and you know, is going to watch out for your self-interest and manage it. And then they pay for things for your care. And it is subject to a Five-Year look back, but planning again, planning is what helps. And so I think those are typically what I see. I don’t know if that answers your question or not Chad, but from my standpoint, I’m trying to advocate for people so that they have the right things in place that they will need moving forward and then try and help educate them about what’s available from a financial standpoint. I don’t do that part. I do, I can draft the trust and so forth, but that’s why they need people like you who understand those issues. And it is a really a joint conversation. 

Chad Sontag (20:19):

Typically, do you see individuals that have annuities set up or see any benefit for certain types of annuities in these situations?

The Key Is To Create An Income Stream

Nancy Cogar (20:29):

For certain annuities that are helpful? And I think they call them Medicaid compliant annuities. And, I typically tell people to go talk to their financial advisor and if they don’t have one find one because the wrong annuity won’t help you at all. The key is to take that money and create some kind of income stream, I think versus just paying it all down in a big pocket. But from my standpoint, I’m the one that’s crafting the trust. I’m the one crafting the powers of attorney, which are very specific. They’re not just cookie-cutter documents, I’m drafting the will that might have all these provisions in it. So it’s important for people to realize, you’re part of this conversation. You have to be, you don’t want just a blank form to define what happens after you die, or while you’re dying, This is not “fill in the blank territory”.

Chad Sontag (21:36):

I don’t have a lot of firsthand experience with it, but I hear a lot of people talking about, their goal it seems is to basically get rid of all of their money, right. So that they don’t have anything that Medicaid can, come back after and get, and without committing fraud, it doesn’t seem like that’s very doable in most situations. Now we do have some annuities that we can offer. And one of them actually has an up to 300% rate of return on your initial investment. So if you had a hundred thousand dollars to put into this annuity for a qualified nursing home expense, you could receive back up to $300,000 in benefits.

Nancy Cogar (22:29):

Yeah. And I guess that’s saying, making your money work for you.

Chad Sontag (22:32):

Yeah. That’s, that’s definitely one way to do it, for sure.

Ron Adams (22:34):

It’s so important because people don’t realize how important it is to make their money work for them. They think, well, this is fine. I got these CDs and that would get around a half a percent or so for CDs. It’s not a very good return to say the least. I won’t even keep up with inflation. And of course, with the markets, no inflation is going to really be hard to keep up with.

Nancy Cogar (22:56):

Yeah. We can talk a little bit more about that too.

Chad Sontag (23:03):

Just to wrap this one up real quick. So obviously an annuity that creates some kind of recurring income stream is one way that could potentially help somebody who’s dealing with some unexpected nursing home expenses, and we definitely have some other recommendations. And we will talk about those here shortly. In the meantime, Nancy Cogar is an elder law attorney in Chattanooga TN, and her website, if you’d like to get in touch with Nancy is: Chattanoogaelderlaw.com. 

So Nancy, what’s something that you feel is important to bring up?

New proposals affecting inheritance and estate taxes and “Step Up In Basis”

Nancy Cogar (24:29):

Well I am not a fortune teller or future caster of course, but we had an election recently didn’t we? 

We have a new president and he is proposing some things that could have a very dramatic effect on families. And especially when it comes to inheritance and estate taxes and so forth which is important for estate planning. So if your eyes are glazing over at home right now stay with us. It’s important. Yeah. So like I said, I don’t know what’s going to happen, but I started to get phone calls. Even today. I got calls from people who want to know what’s going to happen because Mr. Biden is talking about some eliminations of certain things, especially some interesting thing that’s called step up in basis. People don’t know what that is until they have to deal with it. But he’s talking about eliminating that, how can I explain that in a simple way? Let’s see if grandma purchases a house in 1950, for $50,000 in Chattanooga, which that’s probably about, right? Today it’s why our market is great. It sells it’s in, let’s say it’s in Mountain Shadows. So it sells for $550,000 as part of the probate.

How much gain do we have? Yeah. We’ve got a lot of gain. There are people which should be a good thing, right. If you’re making money?

Ron Adams (26:29):

It depends on what you get to keep of it.

Nancy Cogar (26:32):

So the basis is what, it’s the price grandma paid for the house in Mountain Shadows back in 1950. So it’s $50,000. And usually currently that’s, I shouldn’t say usually, but since what, 1980 it’s been that basis is a gift to the beneficiaries. Yeah. So that you are saving all kinds of capital gains on the sale of grandma’s house. But Mr. Biden is talking about eliminating the step-up in basis, which could generate a lot of money folks, $41 billion a year. So that’s a lot of money

Chad Sontag (27:23):

And he’s talking about not only changing, or eliminating this step up basis, but also talking about taxing that at a rate of up to 39.6% which is insane.

Nancy Cogar (27:44):

Some wealthy families could be taxed at over 60% of their income.

Christie Adams (28:00):

So going back to the basis thing, if you inherit grandma’s house, she paid 50,000 for it. You’re going to sell it for 550,000 because that’s what the market will bear. That $500,000 difference is now income in your pocket that you have to pay taxes on under this proposal. If it happens, it has not happened yet. So if you don’t want that to happen, please write to your Congressman. So this is for estate planning purposes this nice gift from grandma could put you in the poor house.

Nancy Cogar (28:32):

I saw some arguments about keeping the house and benefits for keeping the house. And, you know, typically people are not in a position where they can owner-finance something where they could spread it out over a long period. But, these are things that haven’t come into play yet, but they’re just on the horizon and it could create a huge issue. 

Ron Adams (28:58):

It’s been so hard for Congress to get Congress to pass something too. I’d be pretty worried about that.

Tax Exemption for Estate Tax

Nancy Cogar (29:05):

Yeah, we have that going for us. The other issue that I wanted to touch on, if I could, is the tax exemption for estate tax, this is money that you’re going to have to pay to the government. So right now, Tennessee does not have an inheritance tax that makes this state again, very attractive to people that are in States where they get taxed like crazy. So that’s why you see so many people moving here, which is driving up our real estate prices. But we don’t have an inheritance tax, but there is one on the federal level. And it is currently a little over $11 million. So most people do not have an 11, almost $12 million estate. And then for spouses, it, you double that.

Nancy Cogar (30:02):

So, most of us don’t have to deal with that. Me included, but Mr. Biden is talking about lowering that too, well, he says 3.5 million right now. The problem is if they do nothing, which is exactly, sorry, folks, I didn’t mean to get political, but this is exactly what we’ve seen our Congress do little or nothing, in my opinion. So this tax exemption will expire, lapse, stop, in 2025. So if we do nothing then, which I think you can bank on that more than anything else, unfortunately. But if, if they do nothing, then that’s what we’re faced with. So that’s almost absolutely going to become an issue.

Christie Adams (30:54):

Yeah. Because it’s not that hard to get $3 million of estate.

Nancy Cogar (30:59):

Let me look at grandma. She bought a house for 50,000 and now she’s got half a million dollars.

Christie Adams (31:05):

Yeah. In just her house.

Nancy Cogar (31:06):

Yeah. So it’s not that hard.

Ron Adams (31:09):

Well estate can get so many people coming into it too. And with money because they want to protect their money. We see that in Florida, which has just done fantastic with that. And no state tax either, hopefully that’ll never change, but you never know.

Nancy Cogar (31:26):

Well, and they’re coming from States like New York or California where they’re penalizing them for leaving, first of all. And then they want to tax the money that they’re taking out of the state. It’s good for Tennessee in some ways, but we need to be aware of these things.

Ron Adams (31:43):

A lady told me she just quit even thinking about it, and I thought, well, I used to work with Ostrich’s at one time, you know, and there’s an old saying, they stick their head in the sand when they don’t want to see anything. It’s not really true, but it’s kind of funny, but you can’t just ignore what’s going on. There’s some really serious things to think about that are going on with these proposals. There’s the H.R.1 bill and it’s very scary, and you don’t know what it’s going to do. You need to find out, you need to find out for yourself what it’s going to do.

Christie Adams (32:23):

And you need to plan. Don’t just think this is going to happen for you. You really do need to be active in planning your estate, no matter how old you are, but for sure if you’re in your forties or fifties, sixties, if you haven’t done some estate planning, please give us a call.

Ron Adams (32:41):

We get a lot more 50 year olds than we used to.

Christie Adams (32:43):

To get us to get mostly 60, 70 year olds. But we got more in their forties and fifties than we ever did.

Chad Sontag (32:49):

We joked about looking in the crystal ball and not being able to predict the future. And again, this is just a proposal right now, and it sounds like a pretty bad situation potentially for individuals who do have those assets that were receiving or would receive a major tax break under the current laws. But it’s not all doom and gloom. It is if you’re in that situation, but if you have an IRA or 401k, those types of accounts could actually be more attractive if a proposal like this were to be passed, because some of those other taxable accounts would  no longer have some of the same tax advantages. And so looking at doing Roth conversions or, bumping up your 401k contributions may end up being a better idea. So these are some of the things that we can sit down and discuss with individuals on a one-on-one basis because there’s no cookie-cutter answer here.

Maximize options and reach goals

Chad Sontag (33:47):

Folks like anybody’s everybody’s situation is unique. And as tax laws change, there are going to be decisions that you need to make that are going to make use of the full advantage of those ever-changing laws. And that’s where we come in and we can really help sit down and navigate all these complex issues with you guys. So give us a call 423-710-2009. We’d be more than happy to sit down and do a complimentary financial inventory with you, which is an amazing building block that we recommend for all of our clients, new and old we sit down, do a financial inventory, figure out where you’re at, figure out where you want to be and see what we can do to maximize that and make that a reality for you.

Ron Adams (34:37):

That’s right. You know, a lot of times don’t think about the basis of everything, the foundation of all these things to build up your empire, whatever it is, but, you know, they don’t build any houses or they don’t build any buildings without having a foundation. I think one of them tried at once, but it didn’t work out very well. So you got to think about that and come in and see us. We’ll help you get your foundation going. Cause you’ve got to have that. You’ve got to have that.

Christie Adams (35:09):

What do you have for us, Ron?

Ron Adams (35:54):

Well, I’ve been thinking about all this stuff we’ve been talking about preparing and how important preparing is in anything you do. You have to prepare things. When I went out to California when I was about 19 or 20 and decided to get some kind of work out there in the movie business little did I know that would actually work, but it’s good to have a goal and I saw it as a lead to papers said, man, wanted to learn and train and care for wild animals. Well, that appealed to me. It sounded very exciting, and it would turn out to be a lot more exciting than I even wanted it to be sometimes. But in that business, you also have to repair. If you’re going to go down to the studio and down to Hollywood, it’s about a hundred miles from where the ranch was and we’d take animals down there and we’d shoot some different movies.

Ron Adams (36:44):

There’s one that we shot. It was one where the guy that had a zoo …Black Suit. He would rent his animals out as hit animals to kill people. It’s a really classy movie. Anyway, we would get on the set. And we had like nine or ten big cats all in one room, which is very scary to do. And the guy that owned the company was really a class act. Because he’s on the way down. If he saw someone, the young guy walking down the road, he’d tell you what will work in a movie today to pay, you know, 20 bucks, something like that, you know, and the scale was around 50 to a hundred dollars a day back then, that was to me, not really preparing to, well, he, of course he got the difference in the money.

Ron Adams (37:40):

So I guess he was very happy about that. But when we went down there and we were, we headed down this one day and we had a big elephant in the back of the Semi and there was a tiger in a little cage that had wooden doors. Now I was pretty new in the business, but I just didn’t seem to think a tiger should have a wooden type door. Didn’t seem right to me. So on the way down there in the Hollywood freeway, the semi started going back and forth, back and forth, about tipping us over. We had to pull off the side of the road and get out and open the back door. And this tiger jumped over my head and ran down the road a little ways. Which was pretty exciting. And so we, we got the tiger, got it back and put it back in there.

Ron Adams (38:27):

And the elephant was very upset because elephants and tigers do not get along at all. But we got it in there and got a chain around the tiger’s neck so we can kind of lead him and went along with that. Then we got down to the studio and there was going to be a zoo scene, like a circus with it. They’re all lined up. And we had the tiger, we had the elephant and me, I had dressed up in a clown suit. It was kind of, you know, kind of funny. And there was a woman from the studio that was down, going to ride on the elephant. And she, of course, said she knew all about it. And I tried to explain to her how dangerous it was. She paid no attention at all. But when they said action, the guide had a steam Calliope, and they started it up, scaring the tiger to death.

Ron Adams (39:19):

He got out of his biggest roar. You can imagine. And the elephant, me and the girl took off down the set, going through these different sets of Bonanza sets and some different ones, you know, and went down this underground thing and she was going to get killed. You got to jump off. She finally did. And about killing me when I tried to catch her. But the thing is that could have been prepared, probably somewhat different. We finally got the scene, of course, which took hours and hours and hours. But from there on, we always tried to prepare better.

Christie Adams (39:52):

All it would have taken was a steel door instead of a wooden door.

Ron Adams (39:53):

It would’ve helped. It would’ve helped tremendously. So you got to do that in your life and the things you’re trying to do to build up for the future. We do that in our business. And Nancy does that in hers. And these are the kinds of things that we want to help you with because we really understand the importance of preparation.

Christie Adams (40:13):

Absolutely. Well, Nancy, thank you so much for being on the show. we will have you on again, fairly frequently, if you would like to get in touch with Nancy and ask her some questions just go to her website, which is ChattanoogaElderLaw.com. If you would like to make an appointment with us, click here –> Protect and Prepare My Financial Assets, your appointments with us are complimentary, the number is 423-710-2009.