ASSET PROTECTION PLANNING FOR SENIORS: A Guide for Seniors and Their Families

National Business Institute
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My name is K.

Gabriel Heiser, J. For the last 23 years, I've helped hundreds of people pay for nursing home care -- and kept them from going broke in the process. I've advised them on how to protect their homes and other family assets from devastating nursing home expenses so that they can have something to pass on to their children, relatives or charitable institutions.


I've discovered a great many things about the Medicaid system that hardly anyone knows. For instance, did you know that there's one secret technique that can double the amount of assets your family can protect -- yet very few attorneys are even aware of how it works?

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There are many more proven strategies I know, which are contrary to what other attorneys and estate planning advisors may tell you. In over 2 decades of being "in the trenches" daily, I've met many people who have sought the advice of less experienced advisors -- and who have paid dearly because they were given bad advice. It pays to be careful when it comes to federal programs like Medicaid.

I've seen people go to jail or pay huge fines and penalties for doing illegal things or being ill-advised. Did you know Why is that so?

Well, apart from the small percentage who are too wealthy to qualify for Medicaid, there are 3 primary reasons why nursing home residents do not have Medicaid coverage:. I assure you that you don't have to be poor, destitute or broke to qualify for Medicaid coverage. I can also show you exactly how to qualify for Medicaid even if you never thought you could. In the 23 years that I've helped hundreds of people qualify for Medicaid, probably the most frequent comment I got from my clients is this:.

I can't overemphasize the fact that the earlier you do your planning to qualify for Medicaid, the better -- even months or years before putting your parent or family member in a nursing home, if possible. However, no matter what situation you're in -- and even if you've already begun paying for nursing home costs out of your own pocket or your parent's savings , it's almost never too late to protect and save your family's assets.

The Medicaid system is extremely complex and usually cumbersome for the layperson to understand. Nonetheless, it's not difficult to qualify for Medicaid -- when you know exactly how to go about it -- and when you have the proper legal assistance. In this page compendium of Medicaid "inside information," I discuss all the Medicaid rules in great detail, and show you how to apply them to your own situation.

I've included many case studies, and have designed it in such a way that it can be read and understood by laypersons.

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This is the best education you can find on the Medicaid system as it relates to anyone living in a nursing home -- and it even includes advanced asset protection techniques as well. It is the definitive guide to nursing home Medicaid qualification and is the only resource that is completely up-to-date. It includes all the massive changes brought about by the federal Deficit Reduction Act that was signed into law on February 8, and later amended on December 20, The high cost of long-term care has made planning a critically important issue for most middle class seniors and their families.

Asset Protection

In fact, most seniors will likely require some form of long-term care. Our elder law firm routinely works with individuals, and their caregivers, to guide them through the challenging financial and legal decisions which occur as they grow older and require ongoing care. While there are significant federal and state benefit programs which were designed to assist the elderly, far too many people fail to understand how these programs function and what is required for eligibility.

We work closely with our clients to ensure they have an understanding of the many legal options to protect assets and qualify for benefits that will help pay for long-term care. Long-term Care Insurance While some seniors are able to afford private care, the cost of long-term care can easily wipe out savings of all but the wealthiest families in a matter of years. Those who have planned ahead by purchasing long-term care insurance have a degree of certainty and peace of mind, knowing that they have a lesser need to rely on other sources in the future.

If you do have long-term care insurance, you should be aware of what your policy covers. Many policies have high deductibles or provide for only a short period of care in a medical facility.

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In fact, many who have long-term care insurance still have to resort to Medicaid to pay for their care. Medicaid Eligibility The other option to pay for care is Medicaid.

About Northville Seniors Real Estate Agent, Tracy Wick

Health Insurance Premium A health insurance premium is an upfront payment made on behalf of an individual or family in order to keep their health insurance policy active. Once the money is transferred, it legally belongs to the other person. Any money transferred into a trust or simply given away in the five years before a person applies for Medicaid can result in a delay in qualifying for benefits. Popular Courses. Partner Links. Contact Us Today Type your message here: Note: Messages sent using this form are not considered private. Tennessee Senior Assistance Programs : A list of programs and resources available to older adults in Tennessee.

A joint federal-state program, Medicaid provides medical assistance to low-income individuals, including those who are 65 or older, disabled or blind. Medicaid is the single largest payer of nursing home bills in America and serves as the option of last resort for people who have no other way to finance their long-term care.