Nursing home stays and long-term care can cost well over $100,000 per year. To pay for it, families often have to liquidate their assets either to raise cash or to meet Medicaid's spend-down requirements. If you want to protect your assets against this result, long-term care insurance could be your best option. But if this type […] The post Can a Nursing Home Take Our Assets? We Have $800,000 in Investments and Our Home Is Paid Off appeared first on SmartReads by SmartAsset.
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Long-term care costs like nursing home care can quickly drain retirement savings. Medicare provides little help paying these bills, but Medicaid can cover nursing home costs for those who meet strict financial eligibility rules. Certain strategies like special trusts, home equity transfers and annuities can help meet those eligibility rules and protect assets like your […] The post Can a Nursing Home Take Our Savings? We Have a $250k IRA, a House and Other Assets appeared first on SmartReads by