We assist a large number of our clients with Care Assistance Planning. It’s a type of long-term planning that projects future care needs where we provide guidance on how to rearrange assets in a way that would help families eventually qualify someone for Government Long Term Care Insurance – or what many people refer to as Medicaid.
Who Did What… I’ve Heard It All
I often hear: “Well, my neighbor just did this…” or “My friend’s family just did this…” or My barista told me that all I needed to do is that…”
These statements may apply if both people had…
• Exactly the same age person
• Exactly the same health condition
• Exactly the same health progress
• Exactly the same type and amounts in assets
Unless everything is absolutely identical, there is no way you can do exactly what someone else did and get qualified. In fact, by doing exactly what someone else told you they did will increase the likelihood that application errors will occur.
Every Situation Is Different – Every Situation
Care Assistance Planning is not like Estate Planning where I can provide some basic information and say, “Here’s what most people do, and here’s what some other people do.” Everything is so much more complicated when it comes to planning for future care assistance. If you have more than $200,000 in assets and just one little thing is off when submitting an application, it could really jeopardize the application process, resulting in a denial of benefits.
We Can Help
If you are interested in learning more about Care Assistance Planning, including dispelling its myths and misconceptions, I would be happy to send you my book, Don’t Go Broke: The Truth Behind North Carolina Long Term Care Planning. You can also just call my office. We have caring and friendly staff that is here to help.