CAN I PROTECT ASSETS IF I AM IN AN ASSISTED LIVING FACILITY AND PROMISED TO PAY MY BILLS FOR TWO YEARS?

There are no rules that prevent someone from planning for government benefits and protecting assets if you are in an assisted living facility and promised to pay for your bills for two years. Any application for government benefits will fully disclose any planning that is done. You will also need to ensure that your bills will be paid for the time that you promised the assisted living facility. However, in many situations there are better opportunities to protect some of your assets and qualify for government benefits more quickly if you start your planning and apply for governments during this initial period when you promised to use your own money to pay the assisted living bills.

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