“Here’s a surprise source you can tap for long-term care services,” by Darla Mercado, CNBC
Quote: “It isn’t every day that an older client might consult experts to help him become impoverished as he prepares for long-term care. Enter Medicaid planning, a corner of personal finance that brings together elder law attorneys, accountants and financial advisors to help seniors pay for nursing home care while protecting their family members.
“Those who participate in Medicaid planning work with attorneys, accountants and advisors to shift their wealth to trusts or annuities in order to qualify.”
LTC Comment (from Damon V. Moses, Administrative Coordinator, Center for Long-Term Care Reform): We hesitate to forward articles such as this that are basically advertisements for Medicaid planning and contribute to the overall desensitization to the need for responsible long-term care planning. However, people read articles like this when researching options for financing long-term care and it’s better to know when there’s a new one out there. For some balance, see also our latest LTC Bullet: The Medicaid Prevention Business, which features Ron Hagelman’s column from the latest Broker World.