When an adult child comes to my office, a frequent question “Is their anything I can do to save my mother’s assets?” The child states “I’ve been told that I have to spend all of my mother’s assets on the nursing home.” Additionally, “I cannot do anything, as my mother did not do any medicaid asset planning. Because of the five year look back period, we can’t do anything.” Unfortunately, we see these same MYTHs all the time. Mother does NOT have to spend everything to pay the nursing home. Luckily, I state that “Even if your loved one is…
Transfers/gifts, to children or other family members, of the business, could, years later, result in extended periods without any long-term care coverage of any kind.
The Department of Health and Human Services has announced that the poverty income guidelines will continue at their 2009 levels for the remainder of 2010. This means that the lower limit of the minimum monthly maintenance needs allowance (MMMNA), which typically rises no later than July 1 of each year, will remain at $1,821.25 in the lower 48 states and the District of Columbia. In the 48 contiguous states and the District of Columbia, the poverty guideline remains $10,830 for one person and $14,570 for a couple. For Alaska, the figures remain at $13,530 and $18,210, respectively, and for Hawaii…
Frederick, MD 
301-663-9230
