This is a question we deal with all the time. There are legal ways to do “Medicaid planning” and possibly some “gifting” of his assets (as long as it’s done in the right way).
You didn’t say whether your father is married so I will give you a couple of options. If he is married, you need to understand that we have ways to protect all of your parents’ assets for your mother. If he is single or widowed, we have ways of both spending down and “gifting” a portion of his assets to qualify for Medicaid. You may be able to save much more than you thought without spending all of his life savings.
This area of the law is extremely complicated and filled with legal traps. A wrong step can cause Medicaid disqualification or Medicaid penalties. We offer a free Medicaid and asset protection analysis to any person who is currently in a nursing home or who may be going into a nursing home in the near future, to help make sure you avoid any of these traps. For the free analysis, call me at (517) 548-7400 or email [email protected].
Glenn Matecun is a partner with the law firm of Matecun, Thomas & Olson, PLC in Howell. He is an attorney focusing on estate planning, elder law and senior Veterans’ benefits, and answers readers’ questions on legal matters affecting individuals, their families and their businesses. Email questions to [email protected], or if your question is urgent, call (517) 548-7400. Visit us at