Monday, April 7, 2014

Medicaid Planning

My goal is to live independently until I die.

I never hope to need long-term care in a nursing home or assisted living facility.  Unfortunately, few people are able to care for themselves through their older years.  Many are faced with the need for assistance and many caught off guard by the expense that may be necessary to obtain the assistance needed.

Medicaid is often used to provide a source of funding to ensure that you receive the care needed.

Did you know that applicants to Medicaid are only allowed to have approximately $2,000 in non-qualified assets?

Further, any gifts you make within 5 years of applying for Medicaid are subject to a look-back provision which can make them count against your asset allowance!

Your Medicaid planning attorney can help you plan such that you can protect your assets while best qualifying for benefits.

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