Asset protection for the elder client includes planning eligibility for Medicaid. Goals of planning include:
- Provide for the long term needs of husband and wife;
- Preserve assets for the benefit of the well spouse;
- Reduce or eliminate the fear of living in poverty;
- Tap all existing sources of assistance to meet the costs of long term care;
- Evaluate the benefits and limitations of the public health care system; and
- Lessen the impact such planning has on the family, estate and heirs.