The Single Most Dangerous Mistake When Applying for VA Benefits (Part 2)
Last week we were talking about Melissa’s call to our office. Her parents had been receiving VA benefits for 2 years while living in an assisted living facility and everything had been great. The reason she called us, however, is that Dad now needs nursing home care. Her parents have
The Single Most Dangerous Mistake When Applying for VA Benefits (Part 1)
Melissa called to explain her parents’ situation. Mom was 80 and Dad 85. For a number of years they had been receiving care at home from a home health aide. 2 years ago, Melissa attended a seminar offered by a financial advisor at a local assisted living facility about a
How We Pulled Charlie from a Black Hole of Long Term Care
A few months back I wrote about a situation that is not all that uncommon, a nursing home resident with long term care insurance benefits but no other assets. If the insurance payment goes directly to the resident it counts as income, resulting in too much income to qualify for
Don’t Put Long Term Care Planning on the Backburner
Laura called us in a panic because her husband, George, was in a nursing home, about to have his Medicare coverage terminated. George had no long term care insurance and Laura was totally unprepared for how Medicaid works and how much she would have to spend down. I explained that
“But the Lady Said Medicaid is Gonna Take My House!!”
It’s an issue we deal with often, especially in our married couple crisis planning cases. We explain to clients how Medicaid works and engineer a plan to get the sick spouse Medicaid without putting the healthy spouse in the poor house. The healthy spouse will keep the home. This is