Medicaid Planning: WHEN to Protect Assets from Nursing Home Costs

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Medicaid eligibility planning: When should you embrace it?

One of the biggest fears middle class seniors express is that they could lose their life savings and their home if they must later in life reside in a nursing home facility.

Medicaid planning can be a delicate area to discuss since virtually no one looks forward to residing in a nursing home, but the financial consequences of failing to prepare can be devastating.

If you wait too long to engage in Medicaid planning, you risk not be able to take the actions that you need to take at least five years before you enter a nursing home. People who engage this conversation too early often dismiss it because the thought of entering a nursing home in the next 5-10 years is unfathomable.

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Paul Rabalais
Estate Planning Attorney