How We Saved This Family $324,000 in Nursing Home Costs: Real Medicaid Planning Case Study | Repair The Roof Podcast
Update: 2025-08-19
Description
👉Get started on your estate plan—watch our, on-demand workshop: https://www.daytonestateplanninglaw.com/how-to-not-go-broke-in-a-nursing-home-even-if-you-think-its-too-late/
Board-certified estate planning attorney Ted Gudorf highlights the critical importance of Medicaid planning, especially in crisis situations. He uses a case study to show how strategies like Medicaid-compliant annuities and asset protection trusts can protect a family's assets while ensuring a loved one receives quality care. Gudorf also stresses the significance of timing, particularly the five-year look-back period, which can significantly impact a family's financial outcomes.
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TakeawaysÂ
- 70% of Americans over 65 will need long-term care.
- Proper Medicaid planning can save families significant assets.
- Crisis situations require immediate and strategic planning.
- Understanding Medicaid rules is crucial for asset protection.
- Prepaid funeral expenses can help reduce countable assets.
- Income planning can shift resources to maintain financial security.
- Trust-based planning is essential for future asset protection.
- Every family's situation is unique and requires tailored strategies.
- The five-year look-back period is critical in Medicaid planning.
- Starting planning early provides more options and better outcomes.
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