How to Protect Your Family's Assets from Devastating Nursing Home Costs: Medicaid Secrets

by K. Gabriel Heiser

Written by an elder law attorney with over 24 years, experience, this book will help anyone with a family member faced with a long-term stay in a nursing home who wishes to preserve at least some of their assets by qualifying for the Medicaid program. You don't have to be broke to qualify! For the first time ever, the inside secrets of high-priced estate planning and elder law attorneys are revealed. Includes a summary of all income and asset rules for both married and single individuals, together with numerous examples and several case studies, which take the reader through the same thought processes that an experienced elder law attorney would go through when analyzing a real-life client's situation. The book includes tips on: how to title your home so you do not lose it to the state; how to make transfers to family members that won't disqualify you from Medicaid; how annuities make assets "disappear"; smart tricks for "spending down" your assets; what to change in your will to save thousands of dollars if your spouse ever needs nursing home care; avoiding the state's reimbursement claim following the nursing home resident's death; and much more. 2008 Edition has been expanded, revised, and completely updated to incorporate all changes in the law as of January 1, 2008.

247 pages, Paperback

First published January 21, 2013

Reviews

[David Donhoff · Rating 5 out of 5]

NOT a book anyone (who is normal) would read for 'enjoyment'.... but for those of us in the "sandwich generation" this is a *MUST HAVE* resource! It covers *ALL* the critical questions (and more importantly, a ton you didn't know you really wanted & needed to know, but discovered so upon his delivery!)

5 stars.... only because GoodReads doesn't offer 6!

[Gloria · Rating 4 out of 5]

Very interesting in a nerdy way. Quick sweep through the chapters to get a sense of the complexity of elder planning. Frightening in many ways. But really good basis to start from.

[Laurla2 · Rating 2 out of 5]

-3 stars? maybe only 2. WAAAAAY too generic for me. too much "do this - UNLESS you're state doesn't allow that." but no information on which states allow what! plus it is 11 years out of date and warns that more and more states are changing their laws about medicaid and nursing homes. (but this book was all my library had to choose from). basically their advice is to find an elder law attorney in your state with medicaid planning experience, and that's about all i got from this book.

it also refers to special needs trust and supplemental needs trust as interchangeable, but they're not the same thing.

-look into long term care partnership programs through your state. long term care policy partnership - qualified policy. long term care insurance.

-look into NAELA.org national association of elder law attorneys, with medicaid planning.

-specialneedsalliance.org for info about special needs trust and supplemental needs trust.

my goal is to not end up like my brother, having to sell his house to pay medical bills so medicaid will finally start paying for his $15k a month nursing home costs.

[Kim Smith · Rating 5 out of 5]

good book to read before you need it....

[Sherry]

This is the 2008 version of this book. Very good information but there have been changes to the laws since this version was published. There is a 2016 version but not at the library and the cost of the paperback book is $149.00. It has opened my eyes about planning for nursing home costs.

[Darius · Rating 3 out of 5]

This gives a good introduction to the laws and considerations when planning to protect assets from depletion or recovery by Medicaid. My conclusion is that the field is fraught with so many complications, that one must use a good lawyer who specializes in the field. Still, the book gives one a good introduction so one can understand a lawyer's plan and ask the right questions.