Asset protection can be defined as a set of strategies and legal tools that lawyers use to protect assets from lawsuits and claims of creditors. In our office we use an asset protection trust to protect your assets from being spent on long-term care, whether it be in a nursing home or other type of […]
No one wants to lose their estate or assets because they have to go into a nursing home or assisted living facility. But it happens all the time in this country because people fail to plan. In this blog we’ll discuss how do you prevent your estate and assets from being taken by Medicaid Estate
In this blog we’re going to share some letters that we recently received from people needing help with estate planning and Medicaid qualification. Below we’ll have each letter followed by our response. Our first letter involves a family who is concerned that their mother has a gambling problem. They’re worried that their mother will spend
What is the greatest threat to the family farm here in America? Some say it’s the rising costs of fertilizer or farm equipment. But actually, the greatest threat to the family farm is long-term care. As we’ve mentioned on previous blogs, 70% of us will need long-term care at some point in our life. If
Does your mom, dad, grandparent, or other relative need help with things like meal preparation, eating, bathing, dressing, getting in the car, and transportation. We call those “activities of daily living.” If you have a relative that needs assistance with those activities of daily living, you could receive payment as a family caregiver for them.
Prohibited Transfer of Assets Among Family Members and How This Affects Medicaid Eligibility for Nursing Home Patients
We recently received a follow-up letter to a previous blog we had written about the Monthly Maintenance Needs Allowance. This letter explains a situation where a prohibited transfer of assets occurred, which can greatly affect the Medicaid eligibility for someone who is an assisted living or nursing home facility. Below is the letter and our
Protecting a Spouse When the Other Spouse Is in a Nursing Home — The Monthly Maintenance Needs Allowance
We recently received letter from a gentleman whose mother is currently in a nursing home. He was worried about his dad (not in the nursing home) having enough money to cover the costs of daily living. This is a very important issue that see quite frequently in our practice as not many people are aware
Making Difficult Decisions – When Is the Right Time for Your Parents to Enter a Nursing Home or Assisted Living Facility?
At some point in time during everyone’s lifetime, you have to answer this question — when do you need to consider a nursing home or assisted living facility for mom or dad? This is not pleasant decision to make, but it’s a very important decision. We’re here to hopefully shed some light regarding how best
Today we’re talking about prepaid funeral plans for Medicaid recipients. Many of our previous blogs have addressed Medicaid qualifications and rules for those needing assistance paying for a nursing home or skilled nursing facility. In many of these cases, assets are transferred from the nursing home patient to a family member or loved one to
Through our [email protected] email service, we receive quite a few letters from caretakers and families who are concerned about their parents home and assets when and if their parents require nursing home care. These families want to preserve the assets that their parents worked hard to obtain, and they’re worried that everyitng will be taken
The Greatest Threat to the American Farmer Today — Protecting Their Assets from Nursing Home and Long-term Care Facilities
So what do you think is the greatest threat to the American farmer today? Do you think it’s the environmental concerns? Do you think it’s the taxes? I personally think that the biggest threat to the American farmer is the issue of long-term care and how to pay for it. Medicare vs. Medicaid First, let’s
What is the difference between Medicare and Medicaid as it relates to protecting your assets and paying for long-term care expenses? Medicare is like medical insurance. If you’re on Medicare and you go into the hospital for a heart attack, hip replacement, or some other medical need that’s curable, then Medicare picks up that bill.
Medicaid qualification can mean the difference between preserving your family assets and losing them all to a long-term care facility. According to population statistics, 70% of us will need long-term care at some point in time in our lifetime. If your mom and/or dad have to be in some type of protected environment, that usually
Through our [email protected] email service, we frequently receive letters families who are struggling with the expensive costs of nursing home or assisted living. These families are dealing with obstacles in obtaining Medicaid eligibility for their loved ones who are are needing long-term care. Below are a couple letters that we recently received. We hope these