Are there any means for me to retain control of my assets while also protecting them from the reach of nursing homes?
With the exception of the few assets like a home, a car, $2,000 in a bank account, no, you cannot control assets. The whole purpose of asset protection planning for the purpose of qualifying for Medicaid is to take that control away from you. If you are considered to have control of those assets, then they are within your financial wherewithal and therefore are deemed to be your assets and you will not qualify for Medicaid. The whole purpose is not to allow you to have control of those assets while you are trying to qualify for Medicaid, and after you’re qualified for Medicaid, you still do not control those assets.