Our elderly loved ones often need care and compassion in their golden years. Sometimes, caring for our loved ones can be financially stressful – and in some cases, impossible – without the right funds and support. In Alabama and some other states, Special Needs Trusts exist to help the elderly in a way that not only maximizes their finances, but also enables them to continue receiving Medicaid benefits. For example, one popular belief is that elderly individuals entering a nursing facility cannot receive Medicaid benefits unless they “spend down” their assets. While this is true without … [Read more...]
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