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Understanding Florida Medicaid Planning

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.

What is Medicaid Planning?

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:

  • Institutional / Nursing Home Medicaid
  • Home and Community Based Services (HCBS)
  • Medicaid for Aged and Disabled (MEDS-AD)

Barry Siegel made me feel very comfortable with my estate. Hired him instantly. If I could put six stars. I would.

Call us at (561) 955-8515 to schedule a consultation today.

When do you need Medicaid Planning?

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 .

What can a Medicaid Planning Attorney help with?

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:

Transferring assets

Income producing assets into exempt assets

Creating trusts

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South Florida’s premier Estate Planning Law Firm

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.

Contact us now at (561) 955-8515 or click here to get started.

Estate Planning Checklist | Boca Raton, FL | Call 561-955-8515

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