Protect More & Spend Less:
Smarter Medicaid Planning

If you are relying on the nursing home to guide you through the Medicaid process, you will likely be told that you have to spend down to the above asset limits before considering Medicaid.  However, this can be a significant mistake.  Spending down does NOT ensure that you will receive Medicaid.  Even once spent down to the asset limits, you are still subject to a 60 month look back to ensure assets were not gifted.  While there can be some exceptions, gifts or unexplainable withdrawals within the prior 5 years will generally create a penalty period in which Medicaid will not cover your cost of care even if you are otherwise out of assets.  Crisis Medicaid planning known as Gift/Loan planning can not only protect assets that would have otherwise been spent at the nursing home, but it can also be utilized to reduce penalty periods when significant gifts have already been made in the past.

Contact Rowlands, LeBrou & Griesmer PLLC now to determine if planning can be done to protect assets from the cost of care and ensure that Medicaid will be in place for your loved one.