Medicaid Planning and Applications:
Medicaid planning is done to avoid loosing most of your estste to the costs of long term care in a nursing home (NH) or assisted living (AL) facility. Currently the costs for AL is about $6,000.00/month and $12,000.00 per month for a NH! The typical length of stay is 3 years at a cost exceeding $200,000 for AL and over $400,000 for a NH. Medicaid planning involves searching for legitimate ways to avoid bankrupting your spouse or leaving no inheritance for the children. Such things as specialized annuities, long-term care insurance and an asset protection trust are just a few examples of the ways Delaware allows families to do such planning.