Plan Today For A Secure Tomorrow: The Benefits Of Medicaid Planning With An Income-Only Trust
The need for nursing home care does not have to catch you off guard. A visit with a qualified estate planning and elder law attorney – one who has experience helping families sort through their long-term care nursing home options and understands how the Medicaid program might apply to your situation – can help you understand the choices available to you and prepare for the future with a clear plan for how to pay for a nursing home without going broke or losing the family home.
One of those choices is a special kind of trust called a Medicaid Income-Only Trust. To understand why it is an effective option, you first have to know a little bit about how Medicaid qualification works – and why the Medicaid program is the best alternative for families paying their nursing home bills.
The focus of this guide has been on planning for nursing home and long-term care as far in advance as possible, and where Medicaid benefits are concerned, this is the best approach to take. However, it is important to remember that it’s also never too late to plan.
