Dear Michael: We are getting on in years. We have our home, and the farm was sold to our son a few years ago. My husband has some severe health problems whereby he might need care. We have a few dollars put aside and we wonder whether we should give this to our children before he enters the nursing home. I, myself, am in pretty good health for as old as I am, so I don’t think I’ll need care. How much can we keep of our savings and what will count against us for Medicaid? – Need EducatingDear Need Educating: Because Medicaid is funded about 60 percent by the federal government and 40 percent by the individual state where the individual applies for benefits, the rules can change from state to state. I can give you the federal underlying rules, and then you may need to check locally to see …
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Design estate plan years before applying for Medicaid