You don’t have to lose your life savings paying the nursing home.
With Medicaid planning you can obtain Medicaid benefits while preserving your hard-earned assets.
What Is Medicaid Planning?
In general, Medicaid planning is any assistance provided to a potential Medicaid applicant in advance of, and in preparation for their Medicaid application. Medicaid planning typically involves legally restructuring one’s financial assets in order to accelerate Medicaid eligibility and preserve assets. This type of planning takes place when your loved one is already in a nursing home and risks depleting their life savings paying the high monthly bill.
Why Engage in Medicaid Planning?
In short, families engage in Medicaid planning to ensure the best possibility of acceptance into the Medicaid program. Long-term care is very expensive and families want to make sure their loved one receives the care they require which they could not otherwise afford. Medicaid planning allows you to preserve your family’s assets and escape the financial devastation of long-term care expenses.
Don’t wait until the next nursing home bill arrives.
Long-Term Care Planning Situations
Long-term care planning comes in two forms: (1) pre-crisis planning; and (2) crisis planning. Pre-crisis planning takes place in advance and well before you require long-term care. Most pre-crisis planning strategies will require five years to be fully implemented. Crisis planning, on the other hand, happens when a person has failed to plan ahead and is either in a nursing home or about to enter one.
Where Do We Come In?
We assist clients in crisis planning situations where the need for long-term care is immediate. Crisis planning is appropriate for individuals who:
- Are already in a nursing home or about to enter one
- Are not expected to return home
- Are not on their immediate deathbed
- Have exhausted all their Medicare or private insurance benefits
- Are paying out-of-pocket for their care
Crisis Medicaid Planning
Long-term care is expensive. The cost of nursing home care often exceeds $10,000.00 per month, making it one of the largest financial challenges a family will face. Unfortunately, many families are unprepared for the expense. Seeking professional advice is crucial in navigating this complex situation.
For families in crisis, the primary concern is often how to pay for care without depleting their savings. Medicaid is a government program that covers nursing home costs for those who qualify. However, there are strict financial eligibility requirements that must be met before Medicaid will pay and very few people qualify without proper planning. This is where “Crisis Medicaid Planning” comes into play.
The goal of Crisis Medicaid Planning is to qualify your loved one for Medicaid as quickly as possible while simultaneously protecting their assets. Contrary to popular belief, you do not need to be completely impoverished before Medicaid will pay for long-term care expenses. With the right planning strategies, it is often possible to protect assets while still qualifying for Medicaid.
Our law firm is uniquely qualified to assist families during a long-term care crisis. For more than 25 years, we have helped seniors and their families safeguard their savings and access the care and benefits they deserve. We utilize advanced crisis planning strategies to protect assets and accelerate Medicaid eligibility. We provide personalized, one-on-one guidance to ensure that our clients receive the full benefit of these strategies. We can make a difference.
If you have a loved one in a nursing home (or about to enter one soon) let us help you navigate this challenging situation and protect your family’s future.