Can You Protect the Family Farm or Small Business from Medicaid Recovery?

Episode Summary Antony Turbeville examines strategies for safeguarding family farms and small businesses from Medicaid recovery in Florida’s long-term care system. In this episode, Tony explains how Medicaid recovers costs from probate estates, the unique treatment of farms and businesses compared to homes, and methods like joint ownership or LLC structuring to protect assets. He also highlights the importance of competent counsel to avoid costly mistakes and ensure legacies are preserved. Key Timestamps 00:00 - Show Introduction and Welcome 01:30 - Understanding Medicaid Recovery Concerns 05:00 - Joint Ownership and Asset Protection 09:00 - Treatment of Farms and Businesses vs. Homes 13:00 - Structuring Ownership to Exclude Assets 17:00 - Medicaid Eligibility with High-Value Assets 21:00 - Strategies to Maintain Business Operations 25:00 - Property Valuation in Medicaid Applications 29:00 - Successful Asset Protection Case Studies 33:00 - Planning for Long-Term Care Needs 37:00 - Importance of Competent Counsel 41:00 - Conclusion and Call to Action About the Show Medicaid Mastery is a podcast dedicated to simplifying long-term care Medicaid planning for Florida residents. Featuring Antony Turbeville, the show provides clear, actionable guidance on protecting assets, navigating Medicaid rules, and ensuring financial security. Through expert insights, the podcast empowers listeners to make informed decisions and avoid costly mistakes in long-term care planning.