When people find out that Medicare won’t cover nursing home care but Medicaid will, a question comes to mind: Can you give assets to your family to qualify for nursing home Medicaid? The answer is yes, you can transfer assets to your family before applying for nursing home Medicaid, but the timing and the method … Read more
Most seniors want to remain in their own homes as long as possible. Familiar surroundings, supportive neighbors, and independence all make aging in place attractive. The challenge is that long-term care often becomes necessary, and paying for it can overwhelm even comfortable retirement savings. Medicare does not pay for custodial care, so many families turn … Read more
According to the U.S. Department of Health and Human Services, over half of elders will need paid long-term care. About 35 percent will spend time in nursing homes, which are exorbitantly expensive. If you aren’t too concerned because you will have Medicare, here’s a news flash: Medicare doesn’t extend to the custodial care you would … Read more
One of the most common misconceptions related to estate planning is the idea that trusts are only for the wealthy. A lot of people think that a will is the only logical choice for most of us, but this is not the case at all. Let’s look at five compelling reasons to use a trust … Read more
When you hear the term “Medicaid planning,” you may be a bit confused because it is a program for low-income people. It’s a safety net for those who need it, but it’s not something to aspire to, right? That make sense until you understand a few facts about Medicare and long-term care, and we will … Read more