Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
The easy solution is long term care insurance.

Other methods are usually based on the idea that after assets are depleted to a certain level then the individual qualifies for care under Medicade. But they keep extending the look back period (where assets given away must be counted in eligibility requirements) making this require long range planning in most cases.

Various methods can be used to reduce assets. Purchase an annuity. Various charitable trust arrangements. Donate funds to heirs. etc etc. Elder Care attorney will know the rules and what is required or possible in your state.
Print the post  

Announcements

When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement