Most people think that their elderly loved one must give all of their money to the assisted living or the nursing home community when they move in. Well, that’s just a myth. You don’t give them your money – at least not most of the time – instead you pay as you go. Also, Medicaid doesn’t take your money – they don’t get involved in the situation until your loved one exhausts all of their resources and can’t afford to pay for care (but you should be aware of Medicaid because you don’t want to accidentally do anything that could affect your elderly loved one’s ability to get benefits).
Listen to the podcast to learn more.
Talk to you soon.