The Medicaid Planning Handbook: A Guide to Protecting Your Family’s Assets from Catastrophic Nursing Home Costs
Product Description
A guide for seniors, disabled individuals, and their families explains how to preserve personal assets while ensuring long-term care, covering such topics as interfamily transfers and trusts. Tour…. More >>
John Bergstrom posted: 13 Aug at 7:35 pm
I give the book three stars due to content, but the numbers are all obsolete. The information is now seven years old! OBRA laws have changed, gifting laws have changed, estate tax laws,…you name it. Save your money and buy soemthing that has been updated NO EARLIER than January ’03. I am a financial planner specializing in this area, so I cannot- with good conscience- recommend that people adhere to the outdated information in the book- talk to an advisor who is up-to-speed on the new rules.
Rating: 3 / 5
Rick L. Law posted: 13 Aug at 9:30 pm
Dear Worried Reader,
On February 8, 2006, President Bush signed a law called the Deficit Reduction Act of 2005. This law makes sweeping changes to the ability of seniors to transfer (gift) any assets to their children and grandchildren. Following the advice of any book written before that date can cause a catastrophic loss of Medicaid privileges when a senior citizen is most vulnerable..when they actually enter a nursing home. Do not use this book as a reliable guide to current law. elder law attorney Chicago, IL
Rating: 1 / 5
Judith Spangenberg posted: 13 Aug at 10:14 pm
I read 6 different books on this and irrevocable trusts when my dad went into a nursing home. This one was by far the easiest to understand. My parents had a revocable trust that was not worth the paper it was printed on. This book saved my family a lot of money. Unfortunately I lent it to someone who never returned it, so I am buying another copy to give to a friend.
Rating: 5 / 5
Robert D. Herpst posted: 13 Aug at 11:40 pm
Provides a useful outline of Medicare law but is out of date. For
example, it does not have the current estate tax exemption of $1,500,000 and the scheduled phase out. I was left wondering what else is out of date?
Rating: 3 / 5
Sean W. Scott posted: 14 Aug at 1:21 am
While I own this book (I bought it ten years ago) it is now very much out-of-date. The law of Medicaid is one that is constantly in flux, changing just about every year. Recent changes to Medicaid law have made every book on the subject of Medicaid published before January 2007 obsolete. While this book and its author, Mr. Bove provided a great overview of the Medicaid planning process and for many years was the go to book to learn about Medicaid and the nursing home, today it is woefully out-of-date. For an example of an up-to-date book with information for all 50 states see: The Medicaid Handbook 2007
Rating: 2 / 5