In this article, our Naperville elder law attorneys explain the process of planning for long-term care with your estate plan.
Long-term care can be incredibly expensive. For this reason, many people rely on Medicaid to cover the expense of long-term care. However, in order to be eligible for Medicaid benefits for long-term care, you must have first spent most of your own assets. Medicaid planning involves using irrevocable trusts and life estate deeds to ensure that you can retain your home and pass it on to your loved ones while still being able to qualify for Medicaid assistance for long-term care.