Is there any way I can prevent nursing home costs from wiping out my parent’s savings?
Yes, the key to helping our parents plan ahead is to see an elder law attorney early. You want to do this way in advance of when you think your parents will actually have to go a nursing home. That way you can setup the important legal documents, and also plan ahead in the event that they actually do in that type of care. That way, they can transfer some accountable assets, into non-accountable assets before they go on the Medicaid program.