According to the National Institute on Aging www.nia.nih.gov it is care involving a variety of services designed to meet a person's health or personal care needs during a short or long period of time.
Depending on your needs this can range from $2,000 to $10,000 per month. This is covered by your own assets, long term care insurance, VA Pensions with aid and attendance, and medicaid.
Peebles and Gracy does Medicaid Planning. A general definition of Medicaid planning is any assistance provided to a potential Medicaid applicant in advance of and in preparation for their Medicaid application. Medicaid planning can be as simple as assistance with the collection and preparation of documents or as complicated as a complete re-structuring of one’s financial assets.
What is Asset Protection? Asset protection for the purposes of qualifying for Medicaid involves moving assets out of the name of applicant or changing the asset into a non-countable asset; without creating an uncompensated transfer of assets.