Medicaid Planning Attorney in Boca Raton

Benefits of Medicaid Planning

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 Medicaid Planning Lawyers of The Siegel Law Group, P.A., may be able to help you qualify for Medicaid benefits.

Many 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, Elder Law Attorney Barry D. Siegel has been helping clients in Boca Raton prepare financially for the eventuality of long-term care while protecting their estates.

How Medicaid Planning Works

Medicaid income limits generally favor those having little or no income, but when, on average, a semi-private room in a nursing home costs more than $100,000 a year, even families with moderate-sized estates can’t reasonably afford those costs. Medicaid Planning bridges this gap by including specific language in your Estate Plan and creating appropriate legal documents to restructure and protect your assets. This financial strategy can enable you or your spouse to qualify for Medicaid should long-term care become necessary.

If your loved one is in need of nursing home care and you want to learn more about Florida’s specific rules about Medicaid then the Siegel Law Group can help.  We want to help you protect your loved one’s assets in the event they need to enter a skilled nursing facility.

We can handle your Florida Medicaid application and help you qualify for Medicaid benefits. There are specific rules and eligibility requirements that can be confusing if you have never done it before. We can explain the income rules and asset protection techniques necessary to use while applying for the Florida Medicaid program.

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
• Anything beyond one motor vehicle

Here are the assets Medicaid considers uncountable:

• Your primary home and primary vehicle
• Pre-purchased funeral plans
• Personal property and household belongings
• Life insurance policies under $1500
• Up to $1,500 in cash earmarked for burial
• (Most importantly) Certain kinds of trusts like a Medicaid Asset Protect Trust

We Can Also Help If Your Medicaid Application Was Denied

An attorney that’s knowledgeable in Estate Planning and Medicaid Planning can help you understand why you’ve been denied Medicaid benefits. If your application was denied it could be for a variety of reasons and a Medicaid attorney has the knowledge to help you qualify when you apply again.

They can explain the situation to you and put a solid 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.

Remember a properly trained Medicaid attorney will help you qualify for Medicaid benefits while protecting your assets from being spent down to pay for your care.

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 nearly 20 years, Elder Law Attorney Barry D. Siegel has been helping clients in Boca Raton prepare financially for the eventuality of long-term care while protecting their estates. For a complimentary consultation with an experienced Medicaid Planning Lawyer in South Florida, call us today at 561-955-8515 or 855-FLA-ESTATE.