We are a full-service estate planning and probate law firm working to provide peace of mind to our clients and their families.
Protecting Assets for Eligible Loved Ones
One of the most important issues seniors face after becoming eligible for Medicaid is protecting their assets for eligible family members. Medicaid is a means-tested program, which means that the program looks at a recipient's income and assets in order to determine eligibility. If a senior has more than $2,000 in assets, they are ineligible for Medicaid. However, this does not mean that all of the senior's assets will be safe for their family. In fact, the government has several ways of accessing a senior's assets, including:
- Claiming the senior's home as a community spouse resource
- Claiming the senior's home as a community spouse resource
- Claiming the senior's income as a community spouse resource
- Claiming the senior's bank accounts as a community spouse resource
- Claiming the senior's personal belongings as a community spouse resource
- Claiming the senior's automobiles as a community spouse resource
Call our Medicaid Planning attorneys at (877) 641-2952 to schedule a free initial consultation.
Our Satisfied Clients
Hear From Families We've Helped
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"Due to the urgency of our particular needs, The Estate & Probate Law Firm worked quickly!"Joe D.
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"They demonstrate a great knowledge of estate planning."Jane D.
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"The Estate & Probate Law Firm completed our wills and other documents in the most professional, kindest manner."Former Client
Planning for Long-Term Care Costs
One of the most important things seniors can do to prepare for their future is plan for long-term care costs. The average cost of nursing home care is over $100,000 per year, and the cost of assisted living is even higher. The cost of long-term care is so high that it can quickly deplete a senior's savings or force them to drain their retirement accounts. However, there are several things seniors can do to ensure that they have the support they need in their golden years.
Some of the most effective ways seniors can plan for long-term care costs include:
- Protecting assets with a Medicaid planning trust
- Maximizing Social Security payments
- Maximizing Veterans benefits
- Maximizing pension benefits
- Maximizing investment income
- Maximizing tax-free income
- Maximizing tax-free gifts
- Maximizing tax-free bequests
Helping Clients Plan for Their Future Post-Medicaid Eligibility
Every senior should be able to live out their golden years in comfort and security, knowing that they have access to the care and support they need. However, this is not always the case. In many cases, the cost of long-term care can be so high that it depletes a senior's savings or forces them to drain their retirement accounts. In other cases, an elderly loved one may be eligible for Medicaid, but they are not yet old or sick enough to meet the program's strict requirements. In these cases, it is important to speak with a knowledgeable attorney about Medicaid planning options.
The Estate & Probate Law Firm has more than 20 years of experience helping clients plan for their future after Medicaid eligibility. We can help clients protect their assets, prepare for long-term care expenses, and ensure that their loved ones are cared for after they pass away. The Estate & Probate Law Firm can help clients plan for their future post-Medicaid eligibility and ensure that they are prepared for their golden years.
Our goal is to provide exceptional service that supports the generations of your family.
