My Family Member Went into a Nursing Home Unexpectedly—Now What?
We’re tackling a situation many families face with little warning: what to do when a family member unexpectedly enters a nursing home. If you’re in this situation, you may be overwhelmed by questions about costs, eligibility for assistance, and protecting family assets. This is where crisis planning becomes essential. The Financial Reality of Nursing Home […]
What Is The Difference Between A Revocable And Irrevocable Trust?
Understanding the tools available for managing your estate is crucial when planning for the future. Two common tools in estate planning are revocable and irrevocable trusts. Both types of trusts help individuals manage their assets during their lifetimes and provide for the distribution of these assets after death. However, each type of trust serves different […]
What is a Medicaid Lookback?
Regarding long-term care in a nursing home, Medicaid is often the primary payer for individuals who require such services. However, qualifying for Medicaid isn’t as simple as filling out an application. A crucial eligibility factor is the “Medicaid Lookback Period.” Specifically, Medicaid applicants for institutional care need to be aware of the five-year lookback period, […]
Understanding ‘Community Spouse’ in Medicaid Context
When navigating the intricacies of Medicaid, particularly when planning for long-term care, you’ll encounter terms that might be unfamiliar yet profoundly influential. One such term is “community spouse.” I’m here to demystify this concept and its implications for Medicaid eligibility and benefits. What is a ‘Community Spouse’? A “community spouse,” sometimes referred to as the […]