Florida Elder Law Blog - A blog by Elder Law Associates, South Florida's premier elder law attorneys, who handle elder law, medicaid planning, guardianships and much, much more.
The second myth I'd like to de-bunk is about Medicaid and your assets. I often hear from clients that they believe something like the following:
"Once I enter a nursing home as a private pay resident, I must use up all of my assets before I can qualify for Medicaid."
This is not true.
Although it is better to begin Medicaid planning earlier (in Florida, Medicaid planning is essential and should be done by an expert Florida elder law attorney), you may still protect almost one-half--and in many cases substantially more--of your assets even if you are already in a nursing home. Remember, the sooner you engage in elder law planning, the more assets you can protect for yourself and your family.
--Howard Krooks, JD, CELA
