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Questions About Medicaid Planning? Check Out Our Medicaid Planning Reading List

Questions About Medicaid Planning Check Out Our Medicaid Planning Reading List

When someone you love can no longer care for themselves, a nursing home or assisted living facility may be the best option. Unfortunately, the high costs of long-term care can quickly wipe out your entire life savings. This leaves families in South Florida facing difficult financial decisions.  If you find yourself in this situation or anticipate the need for long-term care in the future, 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. As an experienced South Florida...

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How to Protect Assets From Medicaid Recovery

What Does a Florida Medicaid Attorney Do?

Avoiding Medicaid estate recovery of your home should be an important priority of a well-crafted Estate Plan. By using sophisticated estate-planning tools, an experienced Elder Care and Estate Planning lawyer can help protect your house, prevent Medicaid from forcing its sale, and enable your heirs to enjoy it. That's why below you're going to learn about 3 techniques that can help protect your assets from Medicaid recovery. What is Medicaid Recovery? Medicaid may be able to force your heirs to sell your house to reimburse the state for your the benefits you received because when the state pays for care, including nursing...

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Using a Pooled Trust for Medicaid Planning

If you’re disabled and trying to qualify for Medicaid, one option that can help you is a pooled trust. A special needs trust is often used to help a person get under the $2,000 countable asset limit, which can make the difference in whether they qualify for Medicaid services or not. There are options for moving assets into a trust for both personal and certain types of medical needs, most typically for people who are under age 65 and become disabled. For beneficiaries over 65 a transfer penalty may apply. But the best news about a pooled trust is that it...

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Medicaid Gifting Rules: What You Need to Know

medicaid gifting rules - siegel law group

Giving money to your family can be a great way to help them get ahead, pay bills, save for their future, and more. With the Gift Tax Exclusion, you can offer monetary gifts to others without you or the recipient having to pay any additional tax. But keep in mind that any gifting you do should be done only out of love for the people you're gifting to. That's the best way to give, when it's from the heart. It can also be the most important reason to give, as part of your financial planning. That's because you can't use gifting...

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How Much Does it Cost to Hire a Medicaid Planning Attorney?

The cost of long-term nursing home care in South Florida continues to increase. Many people believe they have too many assets to qualify for government assistance - but they are often wrong. Many people 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 to cover expensive nursing home care that you or a loved one need without losing your assets. Medicaid Planning is the use of legal tools and techniques to help individuals qualify for Medicaid benefits. Instead of paying for expensive nursing...

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Is Medicaid Planning Legal in Florida?

Is Medicaid Planning Legal in Florida?

An experienced Elder Law Attorney can help you qualify for Medicaid benefits and protect your assets from being depleted to pay for your care. Medicaid Planning is the process of structuring your finances and your assets so that you qualify for long-term care. Medicaid Planning is legal in all 50 states. But that doesn’t mean just anyone can help you with it. That part depends on the type of planning services you’re looking for and just what state you live in. Florida has specific rules regarding Medicaid, one of which is that only a licensed Elder Law Attorney is allowed to practice...

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What Does a Florida Medicaid Attorney Do?

What Does a Florida Medicaid Attorney Do?

This year, it’s projected that 4.6 million Floridians will enroll in Medicaid. Unlike Medicare, Medicaid offers benefits like nursing home care, which is critical for many senior citizens. While hugely beneficial, applying and qualifying for Medicaid can be an extensive and arduous process, which should be facilitated by a Florida Medicaid Attorney to eliminate error and denial of vital health care. We answer common questions about what a Florida Medicaid Attorney does and how they can help you qualify for Medicaid below. What is Medicaid Planning?  There comes a time in most people’s lives when they need long-term care, despite its exceedingly...

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Do I Have to Sell My Home to Qualify for Medicaid in Florida?

Do I Have to Sell My Home to Qualify for Medicaid in Florida?

Qualifying for Medicaid in Florida induces a fair amount of anxiety. There’s a lot to consider; from implementing spend-down strategies to gifting assets at least 5 years before applying to avoid penalties, not to mention understanding if and how it affects property like your home. 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 and which assets should be excluded. A commonly asked question is whether you have to sell your home to qualify for Medicaid in Florida.  The short answer is: You don’t have...

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Do I Need a Lawyer to Qualify for Medicaid in Florida?

Lawyer to Qualify for Medicaid in Florida?

The high costs of long-term care cause difficult financial decisions for many families. Many people think they have too many assets to qualify for government assistance any they deplete their savings and pay out-of-pocket for their long-term care. With careful Medicaid Planning, you may be able to receive the financial help you need without losing your assets. Whether someone needs a lawyer to qualify for Medicaid in Florida depends on the applicant's marital status, financial holdings and the complexity of the person’s estate. In theory, Florida Medicaid provides health coverage for those with low incomes who might otherwise be forced to...

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Are Nursing Homes in Florida Required to Accept Medicaid Payments?

Senior Citizens: Are Nursing Homes in Florida Required to Accept Medicaid Payments?

Are you worried about the high cost of nursing homes in Florida for yourself or for a parent? Medicaid is the United State's national health insurance and is a joint federal and state program that provides health coverage to millions of Americans, including elderly citizens. The federal government matches state Medicaid spending at a rate that varies by state. Not everyone qualifies for Medicaid assistance: there are asset eligibility caps to qualify for Medicaid, and Medicaid will pay for a nursing home only when it is medically necessary. Florida's Medicaid program is called Long-Term Care Managed Care (LTCMC) program. In Florida,...

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