#073: The RIGHT way to use Medicaid to pay for Long Term Care
Big Picture Retirement®
Devin Carroll
4.7 • 546 Ratings
🗓️ 21 May 2018
⏱️ 51 minutes
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Summary
What is the right way to qualify for Medicaid for long-term care expenses? Listen in as John and Devin discuss Medicaid eligibility factors, non-countable assets, and what - if anything - needs to be done with assets now to possibly protect these assets down the road.
For more information, visit the show notes at http://www.bigpictureretirement.net/073
Transcript
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| 0:00.0 | The Big Picture Retirement Show does not provide specific tax, legal, or financial advice. |
| 0:05.1 | Listeners are encouraged to seek out their own advisors in these areas. |
| 0:13.0 | Hello everyone and welcome to the Big Picture Retirement Show, |
| 0:16.2 | where we deliver insight on what you need to know for a meaningful and successful retirement. If you are |
| 0:22.6 | planning for or living in retirement, this is the show for you. I'm Devin Carroll and John Ross is |
| 0:29.4 | sitting across the desk for me again today. Hey John. Howdy. Oh, John, before we get started in the show, |
| 0:35.3 | by the way, why are you wearing a suit today? I've got a speech this afternoon. Oh, so you dress up for these speeches. I usually, John, before we get started in the show, by the way, why are you wearing a suit today? I've got a speech this afternoon. |
| 0:38.8 | Oh. |
| 0:39.5 | So you dress up for these speeches? I usually, well, as much as I ever dress up for anything, but yes. Speeches and court, right? Speaches in court and I hardly ever go to court. You have to wear a tie when you go to court. You do. They are typically pretty serious about it. They'll throw you out of the courtroom. |
| 0:52.2 | Some old school attitudes. |
| 0:55.0 | You know, my partner, Lisa Schollmeyer, when she first started, there were judges. They are typically pretty serious. They'll throw you out of the courtroom. Some old school attitudes. |
| 1:02.9 | You know, my partner, Lisa Schollmeyer, when she first started, there were judges in our local area that would kick a woman out for wearing pants. |
| 1:03.6 | Really? |
| 1:06.6 | Yeah, you know, it just seems like something like that may not fly today. |
| 1:07.4 | No. |
| 1:09.1 | No. |
| 1:32.7 | But, you know, of course, a lot of times with judges, even in Texas where, you know, most of our judges are elected officials, it's not uncommon to see them be those, be that elected official for decades. Right. So you go back 20, you know, Lisa started practicing law 20 years ago. And then you take a judge that had been on the bench for 40 years prior to that time frame, and they're just carrying with them some of those old school attitudes. |
| 1:34.6 | Most of that stuff has passed. |
| 1:35.0 | Yeah. |
| 1:35.7 | Well, that's good. |
| 1:38.7 | So you have a speech today, and I've heard you speak a number of times. |
| 1:39.0 | Yeah. |
... |
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