How to Use a Trust in Medicaid Planning
With careful Medicaid planning, you may be able to preserve some of your estate for your children or other heirs while meetin...
Read moreDo you need an attorney for even "simple" Medicaid planning? This depends on your situation, but in most cases, the prudent answer would be "yes."
The social worker at your mother's nursing home assigned to assist in preparing a Medicaid application for your mother knows a lot about the program, but maybe not the particular rule that applies in your case or the newest changes in the law. In addition, by the time you're applying for Medicaid, you may have missed out on significant planning opportunities.
Local Elder Law Attorneys in Your City
The best bet is to consult with a qualified professional who can advise you on the entire situation. At the very least, the price of the consultation should purchase some peace of mind. And what you learn can mean significant financial savings or better care for you or your loved one. This may involve the use of trusts, transfers of assets, purchase of annuities or increased income and resource allowances for the healthy spouse.
If you are going to consult with a qualified professional, the sooner the better. If you wait, it may be too late to take some steps available to preserve your assets. To find a qualified elder law attorney near you, click here.
With careful Medicaid planning, you may be able to preserve some of your estate for your children or other heirs while meetin...
Read morePromissory notes can be a valuable tool in Medicaid planning, as illustrated by a recent federal district court case.
Read moreImmediate annuities can be a useful tool to protect the spouse of a nursing home resident who applies for Medicaid.
Read moreMedicaid Rules, etc