Personal Care Agreement Effective Medicaid Planning Tool

Was working with a family over the past few days. The children were taking care of their mother. The mother had Alzheimer's. The family did not know what to do because every nursing home that the family visited told the family that Mother would have to spend all of her savings and sell all of her property (especially the property that was not Mother's home) before qualifying for Medicaid.

It's a common concern. Many people would say she has to transfer her assets and wait five years before qualifying for Medicaid. But what if the family does not have five years to wait.

A possible solution. Since the kids are working their tails off - keeping their Mother 24 hours a day in their residence, Mother can pay the children pursuant to a very carefully worded Personal Care Agreement. One slip up here and Mother won't ever qualify for Medicaid.

We figured out that in a few short months, Mother will qualify for Medicaid and most of Mother's savings and real estate will be preserved. If you want to know how a Personal Care Agreement, or other Medicaid planning options might benefit your family, give us a call at (225) 329-2450, or drop me an e-mail at paul@rabalaislaw.com

Paul Rabalais