Publisher's Synopsis
Written by an elder law attorneys with over 25 years of experience, this book will help anyone with a family member faced with a long-term stay in a nursing home who wishes to preserve at least some of their assets by qualifying for the Medicaid program.
You don't have to be broke to qualify! This book will explore how to protect assets and plan for an unknown future and includes a summary of all income and asset rules for both married and single individuals, together with numerous examples and several case studies.
The book includes tips on: how different states may approach Medicaid qualification and planning, how to title your home so you do not lose it to the state; how to make transfers to family members that won't disqualify you from Medicaid; how annuities can work as part of your planning; smart tricks for "spending down" your assets; what to change in your will to save thousands of dollars if your spouse ever needs nursing home care; avoiding the state's reimbursement claim following the nursing home resident's death; and much more.
For state specific information website links and references are included. The two chapters on Veterans' Pension benefits (rules and planning techniques) have been completely updated to reflect the transfer, lookback, and penalty periods that now apply to VA applications. The 2025 Washington State Edition has been revised and completely updated to incorporate all changes in the law as of January 1, 2025 and to nuances in Washington state law.
