How can I protect my assets from nursing home costs?

Protecting your assets from nursing home costs in California is a challenging endeavor, but there are steps you can take to keep them secure. One of the most common strategies is to create an asset protection trust. This trust is capable of holding assets such as real estate, cash, stocks and bonds, and other properties. The trust can then be used to pay for medical expenses, long-term care, and other costs associated with a nursing home stay. Additionally, you may consider transferring ownership of your assets to family members before needing long-term care. However, this strategy should be done with caution as there are guidelines and restrictions that must be followed to avoid being considered as a transfer of assets in an effort to qualify for Medicaid. Finally, it is important to note that an elder law attorney can help you better understand your options and provide more detailed advice on how to protect your assets from nursing home costs. Such guidance can prove invaluable when it comes to ensuring your finances remain secure.

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How can I protect my assets from nursing home costs?

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