I want to talk to you about qualifying for long term care Medcaid when someone has the usufruct of assets. I've worked with a couple of families recently where mom was going into the nursing home and mom has the usufruct of some of the family assets and she inherited that usufruct when her husband died years ago. Unfortunately, for people here in Louisiana (and the word "usufruct" is a Louisiana only term), but if someone has usufruct of an asset and they go into a nursing home there's a value placed on that usufruct and that usufruct can prevent them from ever being eligible for Medicaid. So be aware of that. We are having to do some terminating of the usufruct and then we will have to wait because there are some penalty periods that apply and we have to do some maneuvering to try to get these people eligible for Medicaid. This is a trap for the unwary so just be aware and plan ahead. Know that if someone has the usufruct of a piece of land or some stock or other assets, it! s considered a countable resource that has to be valued and can make them ineligible for long term Medicaid, which means they have to pay for the nursing home costs out of their own pocket. I just want to make you aware of that. I'm Paul Rabalais and have a great day!
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