One Timing Decision Cut Their ALTCS Planning Costs In Half…
One Timing Decision Cut Their ALTCS Planning Costs In Half…
A placement agent referred Andi to us.
Her parents needed to move into assisted living…
…with a combined cost of $7,000 a month.
Her mom was medically eligible for ALTCS.
Her dad wasn’t quite there yet.
They had $4,500 a month in combined income…
…$30,000 in liquid assets…
…and about $250,000 of equity in their home.
Andi’s plan was simple.
Sell the house…
…and use the proceeds to pay for her dad’s care…
…and get her mom approved for ALTCS.
But that would have created a major problem.
Once the home sold…
…that $250,000 in proceeds would become a countable asset.
ALTCS would have required them to spend down about $140,000…
…before her mom could qualify.
We showed Andi a better approach.
Qualify her mom for ALTCS before the house sold.
Yes, we could have protected the $250,000 after the sale…
…but it would have been more complex…
…and our fee would have been significantly higher.
Not the best outcome for her dad.
By timing this correctly…
…no asset protection strategy was needed at all.
And our fee was cut in half.
We got her mom approved for ALTCS.
Her monthly cost dropped to about $520.
Her dad’s cost was about $1,800 more.
Saving them nearly $5,000 a month combined.
Same assets.
Same situation.
Completely different outcome…
…just based on timing.
If you have clients making decisions about when to sell a home or apply for ALTCS…
…have them call us today for a free consultation.
