A lifetime of prudent financial decisions can be destroyed with just a few years of nursing home care. If you anticipate that you or your spouse may require long-term care in a nursing home or other long-term care facility, it is to your advantage, to begin preparing your finances today. Even if you have substantial assets, effective Medicaid planning can limit the amount of money you will ultimately pay to for health care.
The importance of early planning is crucial. To determine Medicaid eligibility, the government examines your finances within five years of your Medicaid application date. The sooner you begin preparing your finances for this application, the more effective you are likely to be.
I can advise you throughout the process, helping you prepare for Medicaid as part of our comprehensive estate planning services. Whether you need to begin creating a spend-down plan, wish to transfer assets to a trust, or need more unique arrangements, I can represent and assist you.