Q: Do I need to spend all my money on the nursing home before I can qualify for Medicaid?
A: No. You do not have to spend your money on nursing home care in order to qualify for Medicaid coverage of long-term care services. While you do have to meet Medicaid’s strict income and asset guidelines to qualify, there are ways to protect your assets instead of spending them on the cost of long term care.
Q: Will Medicaid make me sell my house?
A: No. Your house is an exempt asset so long as certain guidelines are met. However, Medicaid can place a lien on your home after you pass away. There are ways to protect your house, so long as you do so in advance. Call our office today to discuss your options.
Q: Should I just give my assets and my house away?
A: Absolutely not. Not only will Medicaid assess a penalty against you for giving away your assets, there is also no way to ensure that the recipients will use your assets for your care. Our attorneys can help by recommending options to protect your assets and your home while minimizing any penalties.