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Noah,
What are you protecting with long term care insurance? If it is your assets, you might consider giving them to your heirs now. If you're not preserving assets, then when the time comes spend them on your care until they are gone, then let medicaid pay for your care.
My parents never had a pot to piss in. When dad went into the nursing home, rated one of the best places in the state, medicare and medicaid paid the bills. When he died, medicaid had what amounts to a lien on the asset he had left (the house my mother lived in). My mother lived there until she died. The sibs all pitched in to help her out. When the estate was settled, the state of Ohio (which administers medicaid here) was first in line. I bought the house from the estate for $60k and the money went to the state. My dad was in the nursing home for 10 years and it cost the family essentially $60k.
YMMV in Cali, but it's something to consider.
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Last edited by wdfifteen; 07-12-2019 at 05:09 PM..
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