When I talk about Medicaid planning with people, I sometimes get negative responses. As one woman stated, “You mean, give Dad’s money away.” Often people believe that Medicaid planning is only about giving away assets and passing the financial burden of long-term care on to the state.
While it is true that Medicaid planning can certainly be used to preserve hard-earned savings, it is also about improving the quality of life for the individual in need of care and his or her loved ones.
For example, Medicaid Planning can be used to:
- Increase the amount of money that the spouse of an individual