Can a Nursing Home Take Our Assets? We Have a $1 Million IRA and a Trust to Protect Us

As we age, many of us will need some form of long-term care, whether at home or in a facility. With nursing home costs averaging over $90,000 per year, long-term care expenses can add up quickly.

While Medicaid can help you cover these costs, it has strict eligibility requirements that may require you to spend down your assets first. If it pays out funds to recipients who are later deemed ineligible, Medicaid can place…