Planning for long-term care is critical for seniors and families with aging relatives.  Financial options are limited, and without proper planning placement can be cost prohibitive.  It is better to get advice earlier than later because earlier planning permits the use of more options and fewer headaches.  Waiting until a placement is imminent makes it much harder for all persons involved.

It is particularly important to get advice if your aging relative has a reverse mortgage on his or her property to determine how to handle repayment in connection with a Medicaid application.  Unwittingly, relatives make arrangements with the mortgage company and later run into serious problems with Medicaid’s interpretation of disposal of the property.  Remember that every $5700 worth of uncompensated value transferred within five years of application will result in a month of Medicaid ineligibility.

I tell people routinely that if you feel turned inside out when you complete a Medicaid application…well, that’s normal!  While it can be unpleasant and time consuming, the process can be manageable when you know what Medicaid expects of you.

Put on your drawingboard a call to us to discuss your options and to get your loved one’s affairs in order before it becomes an emergency.