Medicaid Planning Attorney in Boca Raton
What we can offer youMany people mistakenly believe they have too many assets to qualify for government assistance, so they pay out-of-pocket for their long-term care until their nest egg is depleted. But with careful Medicaid Planning, you may be able to receive the financial help you need without losing your assets.
For nearly 20 years, the Siegel Law Group has been helping clients in Boca Raton prepare financially for the eventuality of long-term care while protecting their estates.
For many families in South Florida, the high costs of long-term care leave them facing difficult financial decisions. However, if you are among them, you may have more options than you realized. The experienced Elder Care and Medicaid Planning Lawyers of The Siegel Law Group, P.A., may be able to help you qualify for Medicaid benefits.
a semi-private room in a nursing home in Florida costs more than $12,000 per month...
Can you afford this?
Medicaid income limits generally favor those having little or no income. If your loved one is in need of nursing home care, enter an assisted living facility, or weekly home care assistance, Medicaid benefits can help regardless of your income or assets. Let our team of experts at the Siegel Law Group assist you with the qualification process complying with Florida’s specific Medicaid rules.
Don’t Navigate These Waters On Your Own
With the proper Medicaid Planning, an experienced Elder Law attorney can include specific language in your Estate Plan portfolio to create appropriate legal documents that enable you or your spouse to qualify for Medicaid benefits while preserving your assets and estate.
Elder Law attorney Barry D. Siegel watched a family member suffer because she was unaware of the tools available for Long-Term Care Planning. Today, he strives to ensure each of his clients is financially prepared for the road ahead. Call us by clicking below and schedule a free consultation.
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Which Assets are Included and Excluded From Medicaid Eligibility?
The state of Florida determines your financial eligibility to qualify Medicaid by looking at your assets and seeing which assets of yours should be counted towards your income and which assets should be excluded. While preparing your Medicaid application you need to gather and provide certain financial documents to prove what you have. While income assessment is straightforward it can become complicated depending on the type of assets you have.
Medicaid considers these assets as countable:
- CD’s (certificates of deposit)
- Stocks and Bonds (Brokerage accounts)
- Checking and savings accounts
- Second homes/vacation homes not being rented out for fair market value
- Annuities
- Anything beyond one motor vehicle
- Cash value of life insurance if face value exceeds $2500
- Pre-paid funeral plans (if not irrevocable)
Here are the assets Medicaid considers non-countable:
- Your primary home and primary vehicle
- Qualified Retirement Accounts (IRA or 401k)
- Income-producing properties
- Pre-purchased funeral plans
- Personal property and household belongings
- Life insurance policies with no cash value
- Up to $1,500 in cash earmarked for burial
- Assets with multiple owners
- Medicaid compliant annuities
An experience Elder Law attorney will help you qualify for Medicaid benefits and protect your assets from being spent down to pay for your care
We Can Also Help If Your Medicaid Application Was Denied
If your application was denied it could be for a variety of reasons. An Elder Law attorney knowledgeable in Estate Planning and Medicaid qualification can help you understand why you’ve been denied Medicaid benefits and help you reapply.
They can explain the situation to you and put a solid estate plan in place to make sure you or your loved one receives the care they need. The Florida Medicaid application changes and updates frequently and Medicaid attorneys are always aware of the changing circumstances.
Crisis Planning: When You Need Assistance Now
If you or a loved one already struggles under the weight of long-term care costs, you may still be able to receive assistance. Let us evaluate your options and guide you through the process of qualifying for Medicaid. Call our offices if you need immediate assistance.
LET OUR EXPERIENCED TEAM HELP – SCHEDULE A
FREE CONSULTATION
For a complimentary consultation with an experienced Medicaid Planning Lawyer in South Florida,
call us today at 561-955-8515 or 855-FLA-ESTATE.
I am so grateful for your passion, dedication,and professionalism.Thank you so much! - Peter S.
From the first call to his office to the final receipt of our papers, everything was done top-notch. Made it so easy to forward any info to companies or people that needed copies. Anytime we needed to contact Barry or his wonderful staff, we got a prompt response. It was a pleasure dealing with him and his staff.
Carol
I found Siegel Law Group to handle Medicaid eligibility for my dad as his health rapidly has declined. I have nothing but good things to say about these guys. They have outstanding communication.
Their Medicaid specialist Toby has been constantly on top of our case and was able to handle my dad’s finances to obtain Medicaid eligibility without having to spend every dime of his first. I honestly recommend them without any hesitation.