Qualifying for Medicaid benefits can be a critical concern for individuals seeking long-term care, as Medicaid often covers significant healthcare costs associated with aging and disabilities. However, because Medicaid has strict income and asset eligibility requirements, many individuals employ various financial planning strategies to qualify for …
Archives for November 2024
A Joint Bank Account Is Not a Medicaid Planning Solution
Dear Attorney Tully: I am an 85 year old widow. I am considering adding my children’s names on all of my bank accounts in an attempt to protect them if I need nursing home care in the future. What do you think about this? ANSWER: In Connecticut, the State Department of Social Services (DSS) says that adding someone else’s name to a bank account …
Read More about A Joint Bank Account Is Not a Medicaid Planning Solution →
Tools To Help You Stay in Your Home
Studies show that older Americans prefer to stay in their homes if they possibly can. It is no surprise, then, that most care of older persons is provided at home, whether by family or by hired help. While many consider in-home care preferable to institutional care, there are public benefits and legal considerations, some of which may be quite …
