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Reply to "The insane cost of elder care"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Unless you're wealthy, it's LTC insurance or Medicaid. Get your assets out of your name 5 years before you need Medicaid LTC or the state will take it all![/quote] What if your assets are already in a trust[/quote] You need to work with an attorney that specializes in Medicaid LTC planning to ensure your trust is Deficit Reduction Act (DRA) compliant. Regardless of what PPs say, Congress passed very specific requirements governing asset eligibility for the Medicaid LTC program, and you have to follow those rules to a T. The Medicaid program exists because LTC is so extraordinarily expensive that it is out of reach except for the very independently wealthy, and it does not serve the public good to have seniors and the disabled left to die in their homes. [/quote]
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