At an average cost of over $100,000 per year in North Carolina, long-term care can be financially devastating without proper planning. Medicaid may cover nursing home expenses, but eligibility depends on strict income and asset limits. Couples should consider Medicaid planning strategies, such as creating an irrevocable Medicaid trust, to preserve assets while qualifying for assistance. Long-term care insurance is another option, though policies must be carefully reviewed for coverage limits and exclusions.
Home » FAQ » Estate Planning for Married Couples » How can we protect each other if one of us needs long-term care?
