We often think that Alabama Medicaid is the only way to pay for nursing home for our spouse or parent.
However, Medicaid is simply one solution among a number of solutions.
To properly determine how to pay for nursing home care, we have to look at the risk and then all of the options before we can adopt a … (Read more)
Let’s talk about the timing.
Why does the timing of applying for Medicaid even matter? What’s the big deal?
Keep this in mind.
You know about the five-year look-back.
If we apply now, Medicaid looks back five years and asks, “Were there any gifts?” If it finds gifts, then there’s a penalty period.
“I’ve got too many assets, what do I do? That look-back period seems like a problem and the penalty period seems like a problem. What do I do if I have too many assets?”
One thing is that there are ways to spend those assets.
Sometimes that’s called a “spend down.”
What does that mean?
That means that we can use … (Read more)
Why do people not plan for the future?
There’s pretty a good chance we’re going to need long term care if we live long enough, and it’s very expensive so why don’t we plan for it?
I think there are a few reasons.
People are not just jumping up and down with joy when they think, … (Read more)
The simple answer is, yes, you should.
You should probably meet with all of them when developing a long term care plan.
I may have the greatest doctor in the world but just because he sends an e-mail with this hot stock … (Read more)
This is a question that we’ve gotten a number of times.
When I hear the question, I cringe a little bit because how does that financial advisor knows what the rules are under Alabama Medicaid? Is the financial advisor trained to give legal advice and is he prepared to deal with the consequences of giving bad legal … (Read more)