What if I go into a Nursing Home or Assisted Living Facility?:
We were all told to save for retirement, but we did not plan for a retirement that would include paying more than $5,000/month to a nursing home because of failing health. Although there are many very nice, modern, and comfortable nursing homes throughout our state that have attentive staff that care for each resident, most of us simply don’t want to contemplate it. Will I lose everything? What about my spouse and my children? There are opportunities available for asset preservation but the earlier you pre-plan for this scenario, the more options you have. The Medicaid rules are quite complex and ever changing so it is critical you visit with an attorney trained in this area. Even if circumstances result in limited options, an attorney can guide you through the Medicaid spend down process and filing the Medicaid application.