Medicaid will put a lien on your home to recover long term care benefit payments.

A lien will be put on your home to recover any benefits paid by Medicaid for long-term care. I had a client recently who put his mother in a nursing home and applied for Medicaid benefits. The first thing they wanted from her? A copy of the deed for her home. Unless you are capable of paying $80,000 to $90,000 per year minimum for the nursing home bill, you need to plan early to preserve your assets from Medicaid recovery. One of the primary ways I help people to plan early to preserve their assets from Medicaid is to put their home in an irrevocable Medicaid asset protection trust. If your home is in a Medicaid asset protection trust for 5 years before you need long-term care, it will be completely protected from Medicaid recovery. I don't say these things to scare you. I say these things to get you to think. Medicaid laws and regulations differ from state to state, so check yours. But if you want more information like this, please follow my channel.