The prospect of relocating to a nursing home is one of the harsh realities brought by the golden years that most of the people face, however, the financial repercussions can be overwhelming. With the average American nursing home now over $100,000 per year, it is important to consider ways to preserve your assets1. In this article, we explore steps to preserve your wealth while still getting you or your loved one the care you need.

One of the most important strategies: Medicaid planning

Medicaid is a federal-state program that can ease much of the cost burden of a nursing home, but getting onto it requires careful planning.