The rising cost of long-term care is one of the biggest financial risks families face. A single nursing home stay can drain a lifetime of savings in just a few years—unless you plan ahead.
At Oak Grove, we help Louisiana families protect their assets while making sure they or their loved ones get the care they need.
The High Cost of Care
In Louisiana, the average cost of nursing home care is over $6,000 per month—and prices continue to rise. Medicare doesn’t cover long-term stays, and without a strategy, your assets may need to be spent down to qualify for Medicaid.
What Medicaid Covers—and When
Medicaid can cover long-term care, but to qualify:
- You must have less than $2,000 in countable assets
- Your income must be below a certain level
- There’s a 5-year “look-back” period for transfers
If you give assets away or move them into a trust too close to the time of applying, Medicaid may impose a penalty or delay your benefits.
How to Protect Assets
Planning early gives you options. Common tools include:
- Irrevocable Medicaid Trusts: Protect your home and assets while maintaining access to income
- Spousal Protections: Allow the healthy spouse to retain income and some property
- Gifting Strategies: Reduce your estate while preserving eligibility (timing is critical)
- Long-Term Care Insurance: May be used in combination with legal strategies
What Not to Do
Don’t transfer your house to your children without guidance—it can trigger tax and Medicaid issues
Don’t wait until a crisis forces you into rushed decisions
Why Planning Ahead Is the Key
Ideally, you should start planning at least 5 years before care is needed—but even if you’re already in crisis, there may still be ways to protect some of your estate.
We Help Families Navigate Every Stage
Whether you’re planning early or responding to a sudden change in health, we’ll help you understand your options and protect what you’ve worked for.
