E V E R Y T H I N G
Y O U N E E D T O
K N O W T O K E E P
Y O U R F A M I LY
S A F E F R O M
F I N A N C I A L R U I N
EVERYTHING TO A
Maybe your family has already had an incident
such as a stroke, fall, or a dementia diagnosis.
The fact is that people are losing their life
savings because of catastrophic illnesses. Can
your family afford to spend $12,000 per month
in a nursing home? We see many families who
are spending their life savings now or will be
shortly. Even more sadly, we see more people
who have already spent their life savings but
could have averted a financial disaster by doing
some proper planning sooner. The fact of the
matter is the state wants you to spend almost
everything. They won’t pay for care until you
are almost broke. Single, widowed and divorced
people have to spend virtually everything. The
most you are allowed to keep is $72.80 per month
(Unfortunately, this is not a misprint). The laws
for married couples are still extremely difficult
and the at-home spouse can still be impoverished
and forced to live a diminished lifestyle. Imagine;
this is your reward after a lifetime of working
hard, paying your taxes, educating your children
and doing all the right things. How is that for a
proverbial slap in the face?
W R I T T E N B Y D A V I D C O R M A N / G E N E R A T I O N S A S S E T P R E S E R V A T I O N
Don’t lose Everything
to a Nursing Home!
Moreover…the laws keep getting tougher. The
government now looks back five years and
scrutinizes your entire financial life to find the
smallest details so that they can deny you access
to benefits. Also, good luck trying to ask Medicaid
– the government - how to go about protecting
assets. That’s like asking the fox how to guard
the hen house. Let’s face it; they know all the
hidden exemptions but they are not about to
tell you about them. This is where Generations
Asset Preservation comes in. It’s our job to
know how to navigate the maze of Medicaid
rules and regulations in the Commonwealth of
Massachusetts. We prevent our clients from
We have comprehensive knowledge of these little
known techniques for legally saving the maximum
amount of money allowed by law. What you don’t
know about navigating the nursing home payment
maze could cost you everything.
This report reveals the steps you should be taking
right now to get quality long term care without
selling your home, draining your hard earned
savings, leaving your family without a dime.
E V E R Y T H I N G Y O U N E E D T O
K N O W T O K E E P Y O U R F A M I LY
S A F E F R O M F I N A N C I A L R U I N
The Medicaid rules and regulations
are nearly impossible for the lay
person to understand. In fact, even
well meaning professionals, such as
attorneys, CPAs, financial planners etc.
will tell you it’s too late to do anything.
However, Medicaid planning is a
very “specialized” field that requires a
complete understanding of the rules
and regulations. Unless they are doing
this full time, these professionals will
not have enough working knowledge
to properly advocate for their clients.
We are in the “Medicaid trenches” on a
daily basis and we know the solutions.
We help clients deal with the mind-
boggling, complex maze of Medicaid
rules and we will help you do what is
really important…taking care
of your loved one.
We will explain in plain English how to
address the various areas of exposure
and to avoid the hidden pitfalls and
land mines that await you if you don’t
have the proper help.
Wishing you and your loved one the
best of health.
Generations Asset Preservation
Your free report will reveal the steps you
should be taking to protect your home
and savings and to protect your family’s
You will learn what you can do to protect
yourself. Here are some of the issues we address:
• Discover the little known techniques for
surviving nursing home costs -- What you
don’t know about legal exemptions could
cost you everything
• Discover the benefits for Veterans and their
spouses that could help cover the high cost of
home health care or assisted living
• Discover the biggest mistakes most people
make when a loved one enters a nursing
home and how you can avoid them
• Learn how to find the right nursing home
and how to get quality care
• What you can do to save money even if your
loved one is already in a nursing home (or
going into one)
W H AT Y O U C A N D O T O S A V E
M O N E Y, E V E N I F Y O U R
L O V E D O N E I S A L R E A D Y
I N A N U R S I N G H O M E
Single vs. Spousal Situations. Most
people don’t know that the Medicaid laws for
single people are different than the laws for
spousal situations. Single people are only
allowed to own assets of $2000! Everything
above and beyond that must be spent…Wait a
minute, not so fast. All income, according to
the Medicaid rules and regulations, including
pension and social security income, must go
to the nursing home. The Medicaid recipient
is only allowed to keep $72.80 per month.
However, there are conditions, whereby liquid
assets can be constructed into an income
stream that mirrors a pension. This technique
alone can have the potential of reducing
the nursing home bill in half! Not only is
this acceptable, but Medicaid actually gives
guidelines by which we can construct the assets
in order to qualify for benefits.
Spousal Situations. The laws are far more
favorable for spousal situations. An at-home
spouse (community spouse) can keep all of
his or her assets, in addition to $119,280. It
gets better. The excess of $119,280 without
any further planning is exposed. However,
Medicaid will allow those assets to be
converted into an income stream which again
mirrors what a pension would look like. The
spouse can keep 100% of this income stream.
Once again, not only does Medicaid allow
it, but they give us guidelines by which this
technique can be accomplished. It is written
directly into the Medicaid code. However,
as a result, and in most situations, 100% of
savings can be protected in a spousal situation.
There may be tax exposure and ramifications
for IRAs and other so-called qualified (pre-
taxed) accounts. This is where we can take a
snapshot of your specific situation and make
Medicaid (MassHealth) allows for certain
so-called allowable spend down provisions
to occur if you are in a nursing home, or
going into one. These include:
A L L O W A B L E S P E N D D O W N S
Pre-paying a funeral. Funerals can get fairly
costly, averaging $12,000. Even cremations can
be as much as $2,000 - $3,000. Medicaid will
allow you to pre-pay for a funeral.
W A R N I N G :
Cash value life insurance policies are considered
countable assets for Medicaid purposes and
either are attributed to the single person’s
$2,000 exemption or counted towards a spousal
$119,280 exemption. Medicaid will allow a
collateral assignment to a funeral home. This
means that the death benefit amount will go
towards pre-paying a funeral. Term policies
are non-countable assets and do not have to be
counted towards assets for Medicaid purposes.
Setting aside $1500 into a burial account.
Medicaid allows $1,500 above and beyond a
funeral. This will pay for funeral costs which may
not have been covered under the pre-paid funeral
arrangements. These costs are for perhaps a
small family function to provide for food and
beverage after the funeral.
Clothing allowance. Someone in a nursing
home will need clothes for what could be a
lengthy stay. All clothing items, including
sweaters, pants, shirts, underwear, etc. can
be purchased in advance.
Paying outstanding bills. Bills such as
credit cards, home equity loans and medical
bills are perfectly acceptable spend downs.
In essence, any legitimate debt can be paid.
Capital improvements on a primary
residence. Especially in spousal situations
where the home may already be protected,
it may behoove the at-home spouse to use
some money in order to fix bathrooms,
kitchens, etc., or to do other upgrades.
Find out how you may be able to protect your
home from an estate recovery claim by the
state...AND MUCH MORE!
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W A N T T O K N O W M O R E ?
Learn how gifting money to your children can
disqualify you for Medicaid, unless it’s done
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W W W. S A V I N G S P R O T E C T E D . C O M