Elder Law & Medicaid Planning

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Elder Law & Medicaid Planning.

Elder Law focuses on issues of older adults. Often this will involve incapacity planning, estate planning, and planning for potential future care needs, such as nursing home care or in-home assistance.

Medicaid is a joint federal and state program that provides health coverage to low-income individuals, including skilled nursing and in-home care for seniors. For seniors to qualify for Medicaid, there are strict eligibility requirements. Additionally, Medicaid will look to recover the cost after you are gone through estate recovery.

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Medicaid Planning:

A subset of elder law that involves strategies to help individuals qualify for Medicaid benefits while preserving their assets. Medicaid planning often involves:

Medicaid Planning

Asset Protection:

Structuring assets in a way that allows individuals to meet Medicaid's strict financial eligibility requirements without depleting their life savings.

Medicaid Planning

Spend-Down Strategies:

Legally reducing countable assets to qualify for Medicaid, which may include paying off debts, making home improvements, or purchasing exempt assets.

Medicaid Planning

Trusts and Transfers:

Utilizing legal instruments such as irrevocable trusts to protect assets while ensuring Medicaid eligibility.

Medicaid Planning

Navigating Look-Back Periods:

Understanding and planning around Medicaid's look-back period, which examines financial transactions made within a certain period before applying for benefits to prevent asset transfers made solely to qualify for Medicaid.

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Elder Law & Medicaid Planning:

Elder law and Medicaid planning are critical for protecting seniors and ensuring that they receive the care they need while protecting their financial legacy for their heirs. If you need help with any elder law issues or need assistance with Medicaid planning, do not hesitate to contact our office.