[Angelino97]

Medicaid has quietly become the largest payer of long-term care in the United States. But there is a catch.

To qualify, individuals typically must have less than $2,000 in assets.

There are "elder law" attorneys who know how to transfer an elderly person's wealth into trusts, or outright gifts, so they are legally poor and thus qualify for Medicaid and other benefits.

[Gideon7]

There are "elder law" attorneys who know how to transfer an elderly person's wealth into trusts, or outright gifts, so they are legally poor and thus qualify for Medicaid and other benefits.

You need to start doing this at least 5 years in advance.

You should also look in to getting Long-Term Care (LTC) insurance while you are still relatively young. If you are self-employed with the right tax structure (e.g., SMLLC), you can deduct part of the premiums for you and your spouse.