Last Minute Medicaid Planning Can Still Protect Assets

A nursing home stay can create an urgent financial crisis, but Todd Lutsky explains why families should not assume they have to spend everything before Medicaid becomes an option.In this episode of The Legal Exchange, Todd Lutsky and Susan Powers introduce the new guide, Last Minute Medicaid Eligibility, and break down how different assets may be treated when someone needs nursing home care. They discuss why giving real estate to children can create major problems, how discounted home sales may be treated as partial gifts, and why rental property can sometimes be non-countable but still lienable. Todd also explains the difference between planning for married couples and single individuals, how the family home may be protected in certain Medicaid situations, and why waiting until capacity becomes questionable can create serious estate planning disputes.