One of the most pressing issues facing many couples today is how to pay for care in the event one spouse needs nursing assistance. Some people use their savings to pay for care, others may have long-term-care health insurance in place to help offset the cost. However, the cost of care is daunting, and in long-term situations, can wipe out a couple’s funds.
There are ways to plan long term for these situations, but they are specific and nuanced, and without proper guidance and understanding, it can do more harm than good. If you are looking to protect assets in the event one (or both) spouses need care, it is extremely important that you work with an attorney who has experience dealing specifically with Medicaid and its rules and regulations.