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Not All Medicaid Planning is Created Equal

One of the greatest fears of older Americans is that they may end up in a nursing home. This not only means a great loss of personal autonomy, but also a tremendous financial price. Depending on location and level of care, nursing homes can cost between $40,000 and $180,000 a year.
With careful Medicaid planning, you may be able to preserve some of your estate for your children or other heirs while meeting the Medicaid asset limit. Unfortunately, many people choose to “spend down” their assets to qualify for Medicaid before consulting a professional. The problem with spending down is that you have spent those assets on care that could have been covered by Medicaid if you had an Elder Law attorney.


An Elder Law Attorney's Role in Medicaid Planning
The social worker at your mother's nursing home assigned to assist in preparing a Medicaid application for your mother knows a lot about the program, but maybe not the particular rules that apply in your case or the newest changes in the…

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