Medicaid Planning – Are you prepared?
One of the most financially devastating events for a couple occurs when one spouse must enter a long-term care facility. With yearly costs at probate pay rates often exceeding $144,000 in MA*, it doesn’t take long for many families to run out of money. The spouse living at home could become financially destitute with the inability to pay for simple needs such as food and medication. Most people are unaware that there are many ways to protect the families assets.
The admissions staff at the long-term care facility will not be looking out for your best interests. They work for the facility and that is where there allegiance lies. You need an experienced advocate in your corner.
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*Source: Genworth 2016 Care Survey, conducted by CareScout, April 2016