Get started creating your estate plan with MyAdvocate.com by clicking the link below! Documents valid in all 50 states. -- Medicaid Planning is a huge industry. Thousands of lawyers around the country make a living advising people how to avoid losing their life savings and their home if they enter a nursing home. Medicaid planning can be complicated but if you break it down to its simplest form, it involves getting assets out of your name and out of your control at least 5 years before entering a nursing home. People do this for two reasons: First, an individual must spend 100% of their nursing home expenses (depending on where you live, that’s anywhere from $6k monthly to $10k monthly, unless, among other requirements, you have less than $2,000 of what’s called countable resources (money in the bank, investments, real estate that is not your home), AND you have not transferred any assets out of your name in the previous 5 years. But while the entire Medicaid Planning
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