The AARP has come up with some questions to ask before moving out of a nursing home. Do you want to live independently? You must be motivated enough to overcome frustration and inconvenience. Are you able to live independently? People with limited mobility can often manage. Can you afford to live independently? Government programs offer a variety of financial help. Is in-home care available? Together, a doctor and a transition coordinator can help compile a list of needed services. Is appropriate housing available? Requirements vary with health and mobility, and include access, safety features, security, and kitchen and dining facilities….
Joining a pooled trust may be an option for some people in certain states to receive home care
through Medicaid, without having to impoverish themselves in order to qualify.
Senior Life Care Planning helps clients and their loved ones navigate the maze of legal, care and financial issues associated with dementia, Alzheimer’s Disease, or other disabling health issues.
We see a number of cases, where a financial planner (scammer) sells an annuity to an 80 year old plus veteran with a 20 – year surrender penalty. Consequently, if the veteran has to be placed in a nursing home, the veteran will not qualify for medicaid, causing huge financial repercussions.
The decision applies to annuities, which are irrevocable and nontransferable. In Lopes v. Starkowski [No. 3:lO-CV-307 (JCH)], the United Stated District Court in Connecticut ruled that the income stream from an unassignable immediate annuity is not an asset for Medicaid eligibility. As precedent, it cites a Third Circuit opinion —James v. Richman [547 F.3d 214 (3 Cir. 2008)]–which held that under the Supplemental Security Income program, “an unassignable annuity’s income stream would be treated as income and not as an asset.” But the new District Court decision went further, by stating that “it would be incongruent with the principles of…
Unfortunately, we see many horror stories by people taking advice from their neighbors, acquaintances and friends. Thus, we help you save thousands of dollars per month through our nursing home and estate planning strategies.
where were the Democrats, standing up for the rights of veterans, and the frail and elderly? If they fought for these people rather than Bankers, Insurance Executives, Financial Executives, things may have been different.
In order to qualify for Medicaid, the federal-state program for the poor, an individual must deplete his or her assets to reach a $2,500 threshold. Often, that patient needs care before reaching that limit and can accumulate thousands of dollars in nursing home bills.
Frederick, MD 
301-663-9230
