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NOW IS THE TIME
Medicaid planning can begin anytime, even if your loved one is already living in a skilled care facility. But the sooner you plan, the more options you will have to protect what's important to you.

YOU CAN KEEP YOUR HOME
If you're married, and you or your spouse need to go into a nursing home, your home is exempt from Medicaid's calculation. If you are unmarried or widowed and you go into a nursing home, your house may be exempt if you follow certain procedures. Planning is key to preserving your home.

DON'T GIVE AWAY THE STORE
Since major changes to laws in 2006, "gifting" away your assets has created significant problems, you should be aware of these changes and how they may affect you.

MIND THOSE SAFE HARBORS
Congress has created a number of "safe harbor" provisions for protecting your assets. These exempt certain assets and allow transfers to children or siblings who meet certain eligibility requirements, as well as putting assets into certain kinds of trusts.

CAREFULLY CHOOSE WHEN YOU APPLY
Applying too early can mean a longer wait for Medicaid qualification than necessary, while applying too late can mean having to pay for months of care you may not have had to. Rule of thumb: Do not apply for Medicaid without a plan to ensure you qualify.

GET THE RIGHT HELP
Medicaid planning is a complex matter. You need expert assistance to keep your assets safe. Be sure to find legal counsel who has the knowledge and experience in that area of the law.