A common financial mistake that I see people make when attempting to protect their house from a long-term care event is gifting their house to their children. While you may be successful at protecting the house from a Medicaid spend-down situation, you will also inadvertently be handing your children a huge tax liability after you pass away. A tax liability, that with proper planning, could be avoided entirely.
Video: How To Protect Asset From The Nursing Home: https://youtu.be/iBVQtrGiUso
Video: Should You Put Your House In A Trust? https://youtu.be/zM8jDvAB7ds
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