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Author: Dwdonhoff Big gold star, 5000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75339  
Subject: Re: shelter those dollars Date: 4/2/2013 12:09 PM
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Hi RAD,

Autocorrect get you ? ;)
Sorry, I don't understand the reference ;~(

Seriously, planning to get into the worst nursing homes really seems like the antithesis to a life well-planned.

No, no, no.... Medicaid planning is to *AVOID* becoming a ward of Nurse Ratchet!

In essence its this;
a) create a properly designed trust which will take your assets out of your name and control, but feed them back to subsidize your lifestyle costs,
b) gift all non-exempt assets to a trusted person,
c) that person then funds the trust (this "one off" step is apparently a necessary dance.)

The most preferred method of long term elderly care is in-home support. If you are wealthy enough that you can afford it regardless of insurance, then you are golden.

If you cannot afford it at all, Nurse Ratchet awaits.

If you can afford about 1/4-1/3 the cost, then Medicare/Medicaid will fund the remaining lion's share, *AS LONG AS* you've appeared to be broke (due to proper planning) for the prior 5 years.

DISCLAIMER: I am in no way an expert in this... merely deep into the grokking of it myself as I help my own kin.

Dave Donhoff
Leverage Planner

"Control everything, own nothing."
John D. Rockefeller
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