To help our local community, we frequently offer free estate planning seminars at our Boca Raton location.
If you want to learn more about how medicaid planning can protect your assets from the rising costs of long-term medical care, contact us using the form below.
With a growing number of adults in the United States turning 65 years of age it’s more important than ever to plan for long-term medical costs. Medicaid was introduced as a “need-based” program administered by state. It helps pay the cost of long-term medical care if a senior meets a strict eligibility requirement.
Since nursing home costs are rising faster than seniors ability to pay out of pocket, medicaid planning helps seniors pay for long-term medical care. All without spending down their life savings and selling all of their assets. To meet the income cap for a medicaid application an estate planning attorney will place a seniors assets inside a qualified income trust to hold the excess assets that would disqualify a senior from receiving medicaid benefits.
There are currently 3 different Medicaid long-term care programs Florida seniors may be eligible for:
The best time to start planning for long-term care is when you’re healthy and don’t need to think about it. Any gifts or assets accepted by the senior applying for Medicaid will be counted towards Medicaid eligibility within 5 years from the day they apply.
Therefore, it’s important to have a plan in place along with a knowledgeable estate planning attorney that can help you qualify when the time comes, especially if you don’t have long-term care insurance in place. At the end of the day, you want options that work for you, and planning ahead will put you in a strong position to control your future.
To schedule your complimentary consultation with our Boca Raton estate law firm, call us at (561) 955-8515 .
A medicaid plan helps seniors align their resources while preparing the right documentation, ensuring that when the times comes to apply for medicaid benefits there’s a high likelihood of being accepted.
A medicaid planning attorney can:
At The Siegel Law Group, we understand that life is full of unexpected changes. That’s why we offer ongoing support, even after your estate plan has been completed.
If your situation changes, our team will be here to help you update your plan and ensure that it continues to meet your needs.
We are committed to providing the best possible solutions, now and in the future.
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