New Year’s Resolution 1: Protecting Your Home from Nursing Home Costs

It’s a new year, and we want to help you take easy steps to protect your hard-earned assets.  Over the next week or so, we’ll be proposing a series of mini-resolutions that you can easily put into effect right now to protect your family.

Problem:  If you are approaching retirement age, you should know . . . → Read More: New Year’s Resolution 1: Protecting Your Home from Nursing Home Costs

Daley/Nadeau Decisions: Protect your Home Equity from Nursing Home Costs

Good news recently from Massachusetts’ highest court.   Your home is your nest egg.   It gives you a place to live in retirement for as long as you need, and then you can leave it to your kids when you die.   But that plan can go awry if you need nursing home care.

Medicaid will . . . → Read More: Daley/Nadeau Decisions: Protect your Home Equity from Nursing Home Costs

Three "Time Posts" for Nursing Home Care Planning

Over the next fifteen, about 78 million baby boomers will be reaching retirement age. According to the Centers for Medicare and Medicaid Services, over 40 percent of them will need some period of nursing home care in their lifetimes.

This social tidal wave presents baby boomers and their families with a daunting financial challenge: . . . → Read More: Three “Time Posts” for Nursing Home Care Planning

Panic, my spouse needs to go into a nursing home!

PANIC!  Your spouse unexpectedly needs to go into a nursing home.  You learn that the cost of the nursing home will be $10,000 or more a month!  You own a home and have only about $250,000 in life savings.   You realize that you will go through all your life savings if your spouse is . . . → Read More: Panic, my spouse needs to go into a nursing home!

Losing your Home to a Medicaid Lien

Asset protection is a matter you should think about well in advance.  For example, you can easily protect up to $500,000 of the equity in your home from your creditors’ claims, simply by recording a declaration of homestead at the registry of deeds.

Happy at Home?

As you get older, you should consider other . . . → Read More: Losing your Home to a Medicaid Lien