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Planning in Advance for
Long Term Care

 

For those clients planning ahead, there are many options available to protect assets.  In Virginia, the Medicaid laws do not penalize you unless you apply for Medicaid within five years of transferring assets to family members or trusts.  This is called the Medicaid five year lookback.  Therefore, planning ahead is appropriate for clients in good health expected to last five or more years. Strategies we often discuss with clients planning ahead for nursing home care include the following:

 

300 E. 2nd Street

P.O. Box 808

Salem, Virginia 24153

540.389.6060