Preserving Assets

When a family member is in need of long term care services there are many options available to protect the individual, and their family’s assets. To qualify for the MaineCare (Maine’s Medicaid Program) an individual must have less than $2,000 in countable assets. However, this does not mean they must spend all but $2,000 on nursing home, or assisted living, costs before they can qualify for MaineCare. There are many plans Carlin & Shapiro, P.A. can develop to help protect your family’s assets from long term care costs. These plans can be effective even after an individual is admitted to a long term care facility. However, advanced planning can help ensure the greatest amount of assets are protected.