I was told that I cannot protect any of my assets from the nusing home!

To qualify for Medicaid, if you are single you can retain $2,500 in assets. For couples, the spouse can keep the home, one car, and about $109,000 in assets. The best protection from long-term care costs is long-term care insurance. LTCI does not just pay for the nursing home, but for home-care services, and may help pay some or all of an assisted living facility. If you cannot get long-term care insurance due to a medical decision, age or finances, the next best protection is an Irrevocable Medicaid Trust. However, this trust must be funded for at least five years…

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