Legal-Ease: Nursing homes and life estates

Among the requirements needed to be eligible for Medicaid, an individual’s financial net worth must be less than $2,000. That individual must not have given away property to become that poor within five years before the application. 

Medicaid eligibility means that the government will pay for a person’s long-term care, which includes nursing home care as well as in-home care. 

Long-term care and asset protection plans that are undertaken early almost always help the individual later.