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Recent Blog Posts
Supplemental Needs Trusts: A Crucial Aspect of Medicaid
When a person with a disability depends on government benefits such as Medicaid or Supplemental Security Income (SSI), receiving an inheritance, personal injury settlement, or other financial gift can unexpectedly create serious problems. These assets, while well-intentioned, may push the person over Medicaid’s strict asset limits, resulting in a loss of vital medical coverage… Read More »
How to Pay for Nursing Home & Other Long-Term Care
The cost of long-term care is one of the greatest financial challenges older adults face. A private room in a skilled nursing facility can cost more than $100,000 per year in many states, and even assisted living or in-home care can quickly deplete a family’s savings. Medicare does not cover long-term custodial care, and… Read More »
What Is a Qualified Income Trust?
Many Florida seniors who need nursing home care find themselves in a frustrating situation: they require Medicaid to cover the cost of care, but their monthly income is just slightly above the Medicaid limit. Even though they cannot realistically afford private nursing home bills that can exceed $10,000 a month, they are told they… Read More »
What Medicaid Covers in a Skilled Nursing Facility
When a loved one needs long-term care in a skilled nursing facility, families are often confronted with overwhelming costs and confusing Medicaid eligibility rules. In Florida, the average cost of a private room in a nursing home exceeds $10,000 per month—far more than most families can afford to pay out-of-pocket for any significant length… Read More »
How a Special Needs Trust Can Protect Your Personal Injury Settlement and Medicaid Eligibility
When someone with a disability receives a personal injury settlement, it can feel like a financial lifeline, providing compensation for pain, suffering, and future care needs. But there’s an often-overlooked risk: receiving a large settlement can jeopardize eligibility for critical public benefits like Medicaid and Supplemental Security Income (SSI). These programs have strict asset… Read More »
Can I Get a HELOC and Still Get Medicaid?
Whether looking to make renovations, help out a child or grandchild, take a trip or cover a major expense, many Florida seniors consider ways to tap into the value of their home without selling it. A Home Equity Line of Credit (HELOC) is one option that can provide access to cash when needed. But… Read More »
Can I Go on Medicaid and Still Keep My Home?
One of the most common concerns we hear from clients during long-term care planning is whether they can qualify for Medicaid and still keep their home. It’s an understandable worry—your home is often your most valuable asset, and it may hold a lifetime of memories. Fortunately, the answer is yes, in many cases, you… Read More »
Can I Stay on Medicaid if I Sell My Home?
For many Florida seniors, Medicaid is a crucial resource for covering healthcare costs, in particular the costs of long-term care. If you’re considering selling your home, you might be wondering how this action will impact your Medicaid eligibility. The answer depends on several factors, including how the sale proceeds are handled and whether the… Read More »
How Many Assets Can I Have and Still Qualify for Medicaid?
If you or a loved one might be needing long-term care in a Florida nursing home, understanding Medicaid eligibility is essential. Medicaid can help cover the high costs of nursing homes and other long-term care services, but it comes with strict income and asset limits. Knowing how many assets you can have and still… Read More »
What Is the Difference Between Estate Planning and Asset Protection?
When it comes to securing your financial future and safeguarding your family’s interests, estate planning and asset protection are two essential strategies. While they share the goal of preserving wealth, they address different aspects of financial security and often work together to provide comprehensive protection. Below, we’ll explore the key distinctions between estate planning… Read More »