Is medicaid a good option for her

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Problem

Elsa wants your help with her finances. She is 62 and a widow with about $1.5 million in rental real estate producing $85,000 a year in income. She also receives $1,000 per month in Social Security and $1,700 a month from her husband's IBM pension. She is comfortable living on $6,500 per month. Now, she is looking for a long-term care policy to cover her if she needs assisted living or nursing care. She would really like to stay somewhere nice in the San Antonio area to be close to her family. She also wants to make sure each of her grandchildren inherits a rental property when she dies. She wants a retirement community she could live independently in and then transition into care should the need arise. Address the following: Is Medicaid a good option for her?

Reference no: EM133774201

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