Episode description
Episode description
In this episode of Repair the Roof, Attorney Ted Gudorf offers his best advice on navigating the rising costs of long-term custodial care by laying out the basics of crisis Medicaid planning.
Many of us across the country have had family members in need of long-term care. Over the last several years, there has been a rising cost for this care, whether it is at home, in assisted living, or at a nursing home.
Certain steps have been taken to expand Medicaid coverage in certain states, whereas other states are trying to restrict coverage.
Listen in as Ted talks about the basics of crisis Medicaid planning so that, if you find yourself in a crisis with respect to a family member, you will be able to protect assets while qualifying your loved one for payment through the Medicaid program.
Key Topics:
- The issue of rising care costs (1:28)
- The difference between preplanning and crisis planning (6:50)
- Creating a Medicaid Asset Protection Trust (9:31)
- The Assisted Living Waiver Program (ALWP) (12:15)
- The basics of crisis Medicaid planning for long-term care for single individuals (14:47)
- Which assets are counted (18:09)
- The basics of crisis Medicaid planning for long-term care for married individuals (20:16)
- Creating a pooled trust in Ohio (25:15)
Resources: