How to Pay for the Nursing Home: An Attorney's Perspective
We all come into the world with nothing and leave with nothing. We have all heard this. The biggest fear for most baby boomers is how to pay for the nursing home and still leave the next generation something. With ever changing estate planning laws and great increases in nursing home costs the fear is real. In today’s world you need to understand what your options are. Is long term care insurance for you? What about home care? Should I gift my money away? Would I qualify Medicaid? What about my current Trust, does it avoid the nursing home? What is the 60 month claw back? What if my spouse goes into the nursing home and exhausts our money? We will walk through these questions and many more, including how to plan and place your assets to meet your nursing home goals.