Medicaid regulations are complex, especially as they pertain to nursing home care.

No one knows in advance whether they will need such care. But if you do, it will have serious consequences for your finances and those of your heirs. So it’s important to understand how you can qualify for Medicaid coverage and still protect your home and life savings.

I recommend K. Gabriel Heiser’s comprehensive and accessible book, “How to Protect Your Family’s Assets from Devastating Nursing Home Costs: Medicaid Secrets” (Phylius Press). The book is not intended to replace an attorney specializing in Medicaid, but it will provide you with valuable information you will need to have worthwhile discussions with an attorney.

The book is well-organized and explains issues such as what Medicaid does and does not cover, when and how to apply for benefits, medical and income qualification rules, and how to transfer assets in ways that meet Medicaid requirements legally.

A comprehensive chapter is devoted to trusts. Heiser has an extensive legal background as an estate attorney, and accordingly he offers practical advice regarding which types of trusts can be used effectively. For example, he points out that revocable trusts, which can be modified by the creator at any time, are not generally recommended for Medicaid planning purposes.

On the other hand, irrevocable trusts, which cannot be changed by the creator, can be useful for Medicaid planning purposes. Many examples are cited.

One of the most important chapters is devoted to strategies to qualify. Heiser does not recommend hiding assets. However, he provides many examples of converting assets that are countable for determining Medicaid eligibility into non-countable assets.

For example, in some states, certain income-producing property is not counted. He uses an example in which an unmarried individual could have $2,000 in the bank, own his own home and also own a rental property worth $350,000, and still qualify for Medicaid.

Another important chapter is devoted to annuities, concentrating on Medicaid-planning annuities. An excellent example of how to convert countable assets to non-countable is the purchase of a fixed immediate annuity. With this type of annuity, you purchase an annuity with a lump-sum and receive lifetime income.

Another example is the purchase of a deferred annuity, in which payments have not begun yet, but would be converted to a fixed, immediate annuity upon the occurrence of an event, such as entering a nursing home.

When you use annuities in this way, the asset is no longer counted as an asset for Medicaid eligibility purposes. Naturally, there are requirements that must be met. For example, the contract to purchase the annuity must be irrevocable and non-transferable, and the guaranteed income must not be longer than the annuitant’s life expectancy.

Heiser devotes two chapters to veterans’ pensions. There is a vastly under-utilized type of federal pension benefit that may be available to wartime veterans and surviving spouses who have in-home care, or who live in nursing homes or assisted living facilities.

Approximately 11.5 million seniors — about 33 percent of all people over 65 — could qualify for a VA pension or death pension. However, it is estimated that fewer than 5 percent of those eligible are receiving it. Two chapters are devoted to explaining the qualifications to receive these benefits and resources to help people apply for them.

Heiser’s book will be invaluable to anyone who wants to understand how Medicaid works and steps that can be taken to be eligible for benefits. However, the book will be also be extremely valuable to people who want to learn more about estate planning, trusts and annuities.

I consider it required reading for anyone who plans to discuss Medicaid issues with an elder-care attorney.

Elliot Raphaelson welcomes questions and comments at raphelliot@gmail.com.