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The Importance of Understanding Nursing Home Medicaid, Asset Protection, and Estate Planning.

Home » The Importance of Understanding Nursing Home Medicaid, Asset Protection, and Estate Planning.

Medicaid Info | 6 comments

Nursing Home Medicaid
As we all know, a stay in a nursing home is a substantial cost, and rising. As a result, individuals and their loved ones need to plan strategically to protect assets they have worked a lifetime for. These unbearable nursing home costs could easily impoverish even the most well-to-do families. Should you or your loved one be stricken with Alzheimer’s disease, the average nursing home stay could be five years or more. In the state of Florida, with the average cost of a monthly nursing home stay around $7,500.00, this could amount to $450,000.00 or more! Thus, the importance of understanding nursing home Medicaid eligibility and estate planning!

Throughout the series of articles on this forum, we will be shedding light on nursing home Medicaid / ICP Medicaid rules for single individuals as well as married couples. We will lead you through easy to understand examples and explanations as to asset limits for nursing home Medicaid eligibility as well as income limits. Moreover, we will work together to illustrate how you and/or your loved ones can engage in asset preservation and estate planning strategies.

Many families believe they need to spend down all of their assets to be eligible for nursing home Medicaid / ICP Medicaid qualification. You do not need to “throw away” all of the assets and property you have worked so hard to acquire over a lifetime. You or your loved one will be able to leave a legacy, with dignity, based on yours and/or their desires. I think it quite clear that most people with children or grandchildren would opt to pass on the assets and possessions they have worked so hard to acquire to those heirs. The nursing home Medicaid specialists at Elder Planning Alliance are proud to possess a distinguished A+ accredited rating with the Better Business Bureau. Moreover, Elder Planning Alliance enjoys a 100% success rate with nursing home Medicaid approvals.

A bit about us and our services? We are experts in the field of elder planning and estate planning including nursing home Medicaid filing, ICP Medicaid, Medicaid eligibility, Medicaid qualification, the Diversion Program, asset protection, financial planning, and asset preservation. Also, should you need assistance finding an appropriate facility for your loved one, please do not hesitate to contact our team. We have helped hundreds of families in situations exactly like yours. We have successfully protected their assets and made a smooth transition to assist them in receiving nursing home Medicaid benefits. Please do not hesitate to call our specialists, toll free, at 1.866.372.2702 for your free initial consultation. Thank you for your interest in this introduction to nursing home Medicaid and estate planning article.

  • Consorcia M Velasco

    I am interested in knowing if my mother will qualify for Florida Medicaid. She has Alzheimer and presently she is at a Hospice House but the SW of the Hospice House has suggested that they need t transfer my mother from the Hospice House to a nursing home.

    Her monthly income is $1,180.

    Please advise.

    Thank you in advance for your understanding and help.

  • jack feins

    my wife has Alzheimers..An Aide and myself take care of her. She is in the middle range I imagine. All of my resourses and my wives are in IRA’s. If the time comes, can they take assets that are in IRA’s for years in order to pay for nursing home.

  • BrandonHenderson

    Hi Mr. Feins. I understand you received correspondence from one of our Medicaid specialists. Please do not hesitate to call should you need any additional assistance.

  • BrandonHenderson

    Hi Mrs. Velasco. I apologize for the delayed response from our office. Please understand as our site was undergoing maintenance. I understand you did communicate with our staff? Please call with any further questions. Thank you.

  • http://www.facebook.com/cindy.smithbrooks Cindy Smith Brooks

    I am my mothers p.o.a. and have been her care giver for the last five years. In June of 2011 she transferred her property to me because she said she felt her mind going and she wanted to get it where she wanted it before her mind was too far gone. The property is only worth $36,000.00 at present, but I have put five years of blood sweat and tears into it, to keep it up for her. I have gotten to weak to care for her because she got totally dependent on me for her total care, so last month I had to put her in a N.H.. The medicaid office called me today to tell me she had to be penalized for 6 months and that I had to private pay. Which isn’t going to happen cause I can’t work. She said I have to go right away and put the property back in moms name Monday and fax her the proof, and then I will only have to pay the first month. Which I also do not have the money for. Is there anything else I can do at this point?

  • jr

    My mom is in a FL nursing home with ICP and my daughter is getting married in NY . Can my mom attend without losing her icp? She will only be gone 1 full day and 2 half days.