607 N. Broadway
Hastings, MI 49058
Saving You Money
“I was always told my mother would lose everything when she went into the nursing home. I’m so glad I spoke to Mr. Longstreet. He explained the Medicaid rules and strategies for mom to optimize her estate...”
-Barbara McCrorey, Richland, Michigan.
NURSING HOME RESIDENTS DO NOT HAVE TO LOSE THEIR
ESTATES TO QUALIFY FOR MEDICAID!
My clients are surprised to learn of the many ways to preserve a nursing home resident’s estate and still qualify for Medicaid benefits. For example, did you know:
- The homestead, vehicle, personal property and prepaid funeral contracts, if titled correctly, are exempt for Medicaid qualification?
- The spouse of a Medicaid recipient is allowed to keep up to $109,500 of the couple’s assets? And the remaining assets can be preserved by a properly drafted “Solely for the Benefit Of” trust?
- A Medicaid applicant may convert “countable assets” into “exempt assets” without penalty?
- The “half a loaf” method, if properly used, can preserve a non-married Medicaid applicant approximately 50% of the otherwise countable assets?
- Certain jointly held assets, if properly titled, may not be countable for Medicaid purposes?
Contact us so that we can develop a money saving, personalized plan for you or your loved one facing a long term stay in a nursing home.