In this Elder Law Minute, Paige Fox explains the importance of reviewing long-term care contracts and Medicaid planning for asset preservation.
Video Transcription:
Hi, my name is Paige Fox. I’m a Senior Associate Attorney here at Dent Coulson Elder Law. I understand these topics can be very complex, so I hope these Elder Law Minutes bring some insight and better understanding to both potential and current clients. Thank you.
One thing I always tell clients who are considering a move into long-term care—whether that’s a supportive living facility, assisted living, independent living, or a nursing home—is this:
Be careful. Do not sign any documents without reviewing the contract first—either yourself or, preferably, with an attorney.
The reason I emphasize this is because, while many of the people working in these facilities provide compassionate and quality care for our loved ones, there is also a business side of the facility focused solely on income—and that’s the business administration office.
When a loved one enters long-term care, it’s common for families to feel overwhelmed, emotional, and unsure about the process. That’s completely understandable—because it is confusing.
But here’s what I want you to know:
Never sign a long-term care contract without reading it carefully or having it reviewed by an Elder Law attorney.
These contracts often include boilerplate provisions that:
Could make family members personally liable for unpaid bills, and
May limit your ability to do Medicaid or asset preservation planning later on.
That’s important because, when we’re trying to protect money for a community spouse, a child with a disability, or another loved one, the language in that contract can either preserve or eliminate your options.
It’s also important to understand that:
You do not have to spend all of your money on the facility before applying for Medicaid.
Many facilities prefer that you do exactly that—spend everything on them—and then allow them to apply for Medicaid on your behalf. But working with an Elder Law attorney allows you to:
Preserve assets,
Protect your loved ones, and
Apply for Medicaid in a more strategic and cost-effective way.
So again, two key takeaways:
Don’t sign any long-term care contract without reviewing it carefully or with legal guidance.
Work with an attorney on Medicaid planning before you apply—there are strategies that can save you money and protect your family.
If you or someone you love is preparing for long-term care or Medicaid planning, feel free to reach out to Dent Coulson Elder Law. We’re here to help.
Contact Us for Assistance
Thank you for watching our Elder Law Minute. If you need help with powers of attorney or any other estate planning needs, please call Dent Coulson Elder Law.
Also looking for information about Medicaid and Asset Preservation? Visit these articles:
“Your Trusted Advisor on the Elder Care Journey”
Dent-Coulson Elder Law is dedicated to providing families in the St. Louis area with their Elder Law needs. Our practice areas include Asset Preservation Planning, Veterans Benefits, Medicaid Eligibility, Alzheimer’s Planning, Special Needs Planning, Estate Planning and more. We understand the financial challenges you may face as you and your loved ones grow older. At Dent-Coulson Elder Law, our clients’ well-being is our number one priority. For immediate help, call (618) 632-7000 (IL) or (314) 567-9292 (MO), or Contact Us and we will get in touch as soon as possible.
