How to Protect Your Assets Perfectly Legally from the Catastrophic Costs of Nursing-Home Care

The Revenue Reconciliation Act of 1993 recently passed by Congress had a provision buried in it that's bound to bring rude surprise to many elderly Americans. The bottom line is, Medicaid eligibility rules have been tightened so many will find it all but impossible to receive nursing-home care without spending down all of their assets. Planning for nursing-home care can no longer be left to chance. You risk losing your nest egg in your golden years.

How about Medicare or private insurance? Here's the hard reality: Less than one-tenth of 1 percent of people eligible for Medicare would receive any benefit at all if they were to enter a nursing home. And if you think that your private insurance covers nursing-home care, read your policy again. Chances are, like thousands of other Americans, you may have been duped into buying a worthless policy.

Medicaid will cover long-term care in nursing home but to qualify you must be poor or become poor. Some catch! Anything you have (your income and life savings) must go to the nursing home. Only when you’ve depleted your assets will Medicaid step in.

So what's the solution? Is there any legal way to protect your assets if you or your spouse has to enter a nursing home? Answer : Yes.

  • 11 ways to protect your assets - all legal and easy to implement
  • How to protect your home after you've entered the nursing home
  • How to convert "unprotected" assets into "protected" assets
  • Double whammy for the unmarrieds: If you've no dependent living at home, you're very likely to lose your home.
  • Caution for married couples: Unless you take appropriate steps, assets that are protected today may not be protected tomorrow.
  • Timing is crucial in your planning to protect your assets. Bad timing can result in the loss of your eligibility for Medicaid and loss of your valuable assets.
  • Believe it or not, divorce can actually help in protecting your assets.
  • Joint ownership of assets can be the worst mistake you can make. It can result in a loss of everything to a nursing home.
  • The law says you can't transfer assets to your children or others in anticipation of going into a nursing home. But we'll show you nearly a dozen, perfectly-legal ways to protect your assets.
  • 21 questions to ask before buying a nursing-home policy.

Our newest publication may not only answer many of these questions but also help you plan your finances so that you may not lose your assets to a nursing home. It is available to our customers for a nominal price of $29.95 (regular price $39.95.) Add $3.00 for postage. Believe me, politicians and bureaucrats in Washington have created a maze of laws for the unwary elderly. Many of us will end up spending our nest egg in a nursing home. But some others will avoid the Medicaid trap. They'll get the government to pick up the tab while keeping their assets for their children.