Long-Term Care Planning

When you or your spouse need to enter a long-term care facility, several questions come to mind:


  • How long will I / my spouse be here?

  • What kind of facility do I / my spouse want to be in?

  • How am I going to afford the cost of living here?

  • Is there any help available for the cost?

  • What happens if my circumstances change?

Ideally, early planning and financial management will avoid the need to apply for and rely government benefit programs. Oftentimes, however, this is simply not possible. The costs of long-term care may exceed what even the most cautious planner prepared for. Our goal is to help determine if you need assistance, and if so, how to go about qualifying. 


A few things to note before moving forward...


  1. First, keep your mind open to the possibility that applying for Medicaid may work for you. Do not assume that you cannot possibily qualify. Instead, talk with our office about your situation to help determine whether you wish to pursue this route. 

  2. Second, be aware that transfers made in the past five years (as of 2005) may subject you to what is known as a "transfer" penalty under certain circumstances. Gifts of any kind (even if those gifts were tax exempt in a given year) will be subject to this lookback. This penalty will result in a sanction period which will delay Medicaid benefits to be received. 

  3. Third, be aware that some transfers are exempt from penalty and may present desirable transfer opportunities. 

  4. Fourth, there are some assets you may have that, while valuable, are nevertheless non-countable for Medicaid qualifying purposes.