As healthcare costs rise, many individuals and families face the reality that long-term care, whether in a nursing home or through home health services, can quickly drain personal savings. With the right long-term care planning strategies, it’s possible to obtain the care you need without sacrificing everything you’ve worked hard to build.
Medicaid is a vital program that provides coverage for long-term care, but its eligibility requirements can be strict. Without proper planning, you may not qualify for Medicaid, or you may have to spend down your assets to meet eligibility criteria, leaving you with limited assets for the future.
We provide personalized long-term care planning services to help you and your family plan for future healthcare needs while preserving your wealth. Some of the strategies we employ include:
- Income and Asset Analysis: We review your assets to determine what is at risk if you need long-term care, the resources you have available, and the potential costs, to provide advice on the best way to structure your assets in a way that minimizes the risk of losing your savings while obtaining the care you need.
- Income and Asset Transfers: through strategic transfers in accordance with Medicaid rules, we help you reduce your income and countable assets ensuring eligibility for benefits.
- Medicaid Trusts: Our team uses Medicaid Asset Protection Trusts and Qualified Income Trusts to protect family wealth while complying with Medicaid’s strict requirements.
- Spousal Protections: If you are married, we ensure that your spouse can retain enough assets for financial security while you qualify for Medicaid assistance for long-term care.
Medicaid planning is crucial for anyone facing the high costs of long-term care. We offer a personalized approach, taking the time to understand your specific circumstances and goals. We help you make informed decisions that protect your financial future and ensure that you have access to the care you need.
Our experienced attorney will help you create the Medicaid trust you need. Planning for the future is critical. For peace of mind, contact us to get started on your Medicaid Trust now!
