If I want to protect my family and my assets from Long Term Care costs should I plan now or can I wait till I go into a Nursing Home?

The sooner you plan the more assets you can protect. If you plan five years in advance of going into a Nursing Home you can protect 100% of your assets. If you wait till you go into a Nursing Home to do Medicaid planning most people will lose 50% or more of their assets. If you go into a Nursing Home and do not plan immediately upon entering the Nursing Home most people will lose everything. Therefore if you have just entered a nursing home or been in a nursing home for a while start now and plan today. You may still be able to save a portion of your remaining assets. If you do not plan you will likely spend all your assets on long term care expenses. The sooner you plan the more you can protect.