New Hampshire Elder Law & Medicaid Planning Attorney
Preparing for Long-Term Nursing Care
Medicaid planning is a form of asset protection planning focused specifically on ensuring the maximum possible preservation of your assets in the event you or your spouse needs nursing home care.
At costs approaching $10,000 per month, even a moderate-length stay in a nursing home can destroy the financial well-being of all but the wealthiest families. Qualifying for Medicaid, the federal-state program that pays for long-term nursing home care, involves satisfying stringent asset and income criteria and can be a time-consuming, frustrating, and difficult process. Certain assets are exempt, while others are countable, and still others change from exempt to countable depending on the form in which they are held.
The elder law and Medicaid planning attorneys at Shaheen & Gordon, P.A., can help you employ legal strategies to preserve your assets to the extent possible. We can assist in advance planning as well as crisis planning. We can advise you on the spenddown process and help you avoid asset transfer penalties that can result when certain gifts are made.
It can be highly risky to attempt such planning without the advice of an elder law attorney. Medicaid qualification is complex, and unfortunately, there is a tremendous amount of incorrect and unreliable information that circulates about the types of strategies that do and do not work. Investing in Medicaid planning often pays for itself in money saved and peace of mind.
