Will you loose your home to the nursing home?
You do not have to sell your home in order to qualify for Medicaid. However, if you are single, the State of Maryland, and other states, may file a lien against your house after you die. If you qualify for Medicaid, the state may recoup, from your estate, the Medicaid benefits paid for your care. This is called "estate recovery," and given the rules for Medicaid eligibility, the only property of substantial value that a Medicaid recipient is likely to own at death is his or her home. Therefore, before entering a nursing home, or as soon as possible afterwards, the’re ways to protect your assets.
To increase your monthly income, please contact us about a FREE HANDBOOK about VA Benefits, written by David Wingate, an accredited VA Attorney, of Senior Life Care Planning, LLC, go to firstname.lastname@example.org or if you require additional information about VA Benefits, visit our Senior LCP's Website.
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Tags: asset protection, estate recovery, Financial Planning, home, medicaid, Medical Assistance, nursing homes, residence