Medicaid Planning

If you should require skilled nursing home care, would you have the resources to pay for it?  If you are married, would your spouse be able to afford to live independently at home while you are in the nursing home?  Do you have long-term care insurance?  For most people, the answer is “NO” to all the above.  In that case, you will probably need Medicaid to pay for a portion of your care.  There are serious consequences to your assets once Medicaid starts to pay for your care. 

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The most common mistakes when it comes to Medicaid planning are not planning soon enough and making decisions without a proper understanding of the Medicaid rules. There are tools and some planning that can be done to preserve your estate, particularly if the planning is done well in advance of the need for long term nursing home care. Contact our office to schedule a consultation to discuss your unique situation.