Elderly Asset Protection

  • Protecting the Home from Medicaid with a Life Estate

    Is your parent paying for nursing home care with Medicaid? Learn how to use a life estate as an advance planning technique to allow families to retain ownership of their most important asset, their home.

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  • Top 5 Strategies for Protecting Your Money From Medicaid

    Many seniors must apply for Medicaid to afford long-term care. Here are strategies families can use to protect some of their assets while still qualifying for financial assistance with nursing home costs.

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  • Hiding Money from Medicaid: Don't Do It

    Hiding assets by not reporting them to Medicaid is illegal and considered fraud against the state. However, there are a number of legal techniques for protecting your parent's assets so that they pass to you.

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  • Weighing the Pros and Cons of a Living Trust

    A living trust is a popular financial tool that can be used for Medicaid planning, estate planning and tax planning purposes. However, a trust may not be the best the best approach, depending on a person’s long-term goals and unique financial situation.

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  • 4 Key Things to Know about Trusts and Medicaid Planning

    There are many types of trusts that can help protect your assets from Medicaid. Here's a brief overview of the things you need to know when setting up a trust for Medicaid planning purposes.

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  • The Top 8 Medicaid Planning Mistakes People Make

    Proper Medicaid planning is crucial when it comes time to pay senior care costs. Here are some common mistakes people make when trying to plan for Medicaid.

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  • How Joint Bank Accounts Affect Medicaid Eligibility

    Be aware of the pitfalls of joint accounts when planning and preparing for the Medicaid application, as mistakes in the way an asset is titled and managed can have a profound impact on Medicaid eligibility.

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  • Spousal Impoverishment: Medicaid Spend-Down Rules for Married Couples

    Medicaid spend-down rules for married couples are different, depending on where each spouse lives. When one still lives at home, known as the “community spouse,” they can often keep more assets and income to avoid what is called spousal impoverishment.

    21 Comments
  • Medicaid Estate Recovery: Long-Term Care Benefits Aren’t Necessarily ‘Free’

    The goal of the Medicaid estate recovery program (MERP) is to recoup all the money that Medicaid spent on a senior’s care. Learn how MERP works and what families can do to minimize the impact of the recovery process.

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  • Asset Limits for Medicaid Eligibility

    Many people are surprised to learn they can keep several different assets and still qualify for Medicaid. A clear understanding of Medicaid resource limits and rules will help you devise the best legal and financial planning strategy for your situation.

    76 Comments
  • Entering a Nursing Home: Will Medicaid Exempt Your Parent's House?

    There are some conditions that impact whether Medicaid “counts” an elder’s home as an asset once they move into a nursing home. Get the facts straight to ensure your primary residence is exempt for Medicaid eligibility purposes.

    11 Comments
  • How can mom protect the proceeds from the sale of her home?

    If there is no tax consequence from selling your mom's home, then she can use all of the money for retirement.

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  • Can Medicaid Take a Senior’s House to Pay Their Nursing Home Bill?

    Medicaid covers residential skilled nursing care for low-income seniors who qualify. However, upon the death of a Medicaid recipient, the state may seek repayment of its outlays for the senior’s long-term care.

    43 Comments
  • How to Handle a Shopaholic Senior

    When an aging loved one is making excessive and unnecessary purchases—especially ones they cannot afford—it’s time for a family caregiver to step in.

    11 Comments
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