Medicaid

It is something nobody wants to think about, but the reality is that either you or your spouse -- or both of you -- may wind up needing long-term or nursing home care one day. Life expectancy has more than doubled since the turn of the century. If you make it to 65, chances are you’re going to live to 81 if you are a man and to 84 if you are a woman. As a result, nearly one of every two women and one in four men will find themselves in a nursing home some time in their lives. Unfortunately, Medicare will not pay for it. With the costs averaging at least $5,000 per month in most states, two out of three families will run out of money within the first year when faced with a prolonged nursing home stay. There is another option, however. You can get Medicaid to pay for it.

Most people think they have to “spend down” all of their income -- and give up most, if not all, of their assets before the federal-state Medicaid program will cover their nursing home costs. That is not true, however. Attorney Fales can show you legal techniques and strategies that will allow you to be covered by Medicaid and still keep your home and many of your assets, while giving some of your assets away to family members or other loved ones.