When should I start planning for my potential long term care or disability needs and if I haven’t planned ahead, is it too late?

First, unless you’ve already spent all of your assets and don’t own any real estate, it’s never too late to start planning. If your loved one is already in a nursing home, there are still planning strategies available.


But, in general, the sooner you start planning, the more assets you will be able to protect and the faster you will be eligible for Medicaid assistance if and when you need nursing home care. As a rule of thumb, in our office, we recommend that you begin shopping for long term care insurance around age 50+ and that you begin implementing Medicaid planning strategies beginning at age 65+. However, if there is a known family history of a particular illness, or you already been diagnosed with an illness that is likely to require nursing home care in the future (such as Alzheimer’s, dementia, Parkinson’s, etc.) then you may wish to begin investigating Medicaid planning sooner.