Medicaid normally requires that a person’s income be used to offset the cost of long-term care in a facility. Virtually all of that person’s income must be paid to the facility each month. Medicaid then pays the balance of that…
Category: Long-Term Care
Married Couples Can Now Protect More Assets
The cost of long-term care is catastrophic. If a husband or wife needs long-term care then the family’s assets are quickly depleted on the cost of that care. Once the assets have been spent down then the family can acquire…
Long-Term Care Insurance Partnership
If a person obtains a long-term care insurance policy that satisfies federal law, then assets can be protected from Medicaid and the cost of long-term care. Congress passed a law approximately 15 years ago that provides an incentive to acquire…
Federal Court Allows Annuity Strategy to Protect Assets
The United States District Court for the District of New Jersey has issued an important decision concerning the use of annuities for Medicaid planning. The Honorable William J. Martini rendered this favorable decision in the case of Jane Cushing v.…
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