Skilled Nursing: The Intersection of Skilled Nursing and Estate Planning: California’s Unique Challenges

Episode Summary

In this episode, Kevin Rosenquist and Attorney Alan Eighmey explore the critical intersection of skilled nursing care and estate planning in California. With the cost of skilled nursing often reaching $8,000 to $12,000 per month, the duo discusses how families can protect their assets, qualify for government assistance like Medi-Cal, and navigate the unique rules of California’s long-term care system.

Timestamps

• • 00:00 – Introduction
    Kevin introduces the topic: Skilled Nursing and Estate Planning in California.
  • 00:36 – What is Skilled Nursing?
    Alan defines skilled nursing care for those needing daily living assistance.
  • 01:31 – The High Cost of Skilled Nursing
    Discusses the expensive costs of skilled nursing and its impact on family resources.
  • 03:22 – Medi-Cal’s Role
    Alan explains how Medi-Cal helps pay for skilled nursing care in California.
  • 04:28 – Medi-Cal’s "Share of Cost"
    Medi-Cal’s calculation is based on income, not assets, for paying long-term care bills.
  • 05:37 – Eligibility Pitfalls
    Warns about Medi-Cal recovery from estates after death and the need for proper planning.
  • 07:19 – Protecting Assets with Trusts
    How using a trust can protect assets from Medi-Cal claims.
  • 09:21 – Protecting the Family Home
    Planning to protect the family home from being sold by Medi-Cal.
  • 10:23 – Medi-Cal Misconceptions
    Alan clears up common myths about Medi-Cal and home seizures.
  • 11:29 – Minimum Maintenance Allowance
    Ensures the spouse can maintain enough income to live independently.
  • 12:54 – Importance of Proactive Planning
    Alan stresses the need for proactive estate planning to avoid financial strain.
  • 13:53 – Final Advice
    Be proactive in planning for skilled nursing care and avoid stress.
  • 14:15 – Outro
    Kevin thanks Alan and encourages listeners to visit StrategicLaw.com.

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About the Show

Strategic Insights provides strategic guidance for life’s most important decisions, focusing on estate planning, probate, trust administration, and conservatorships. Hosted by Kevin Rosenquist, this podcast is your trusted source for expert advice on navigating complex legal and financial matters. Attorney Alan Eighmey and his team share actionable insights to help you protect your loved ones and your assets.