Interesting Series on Medicaid and Long Term Care - NYT
An article on the ethics of Medicaid planning caught my eye in today's New York times. The article is titled "The Ethics of Adjusting Your Assets to Qualify for Medicaid" and is part of a series Mr. Lieber is doing on Medicaid.
Link here: https://nyti.ms/2tvMMmn
The Medicaid Application process is one that does not necessarily require the use of an attorney. That said, there are many traps for the unwary and some basic planning can really make the application process easier. There are also some important planning options, especially for couples who are faced with needing to provide long-term care for one spouse while the other spouse is relatively healthy. A good attorney can help show what options are available (including Medicaid compliant annuities; creative spend down; special needs trusts; transfers to a disabled child, etc.) to help avoid spousal impoverishment.
If you, a family member, or friend is facing a long-term care situation, a consultation with an Elder Law Attorney who works with Medicaid planning is a must.