SAFEGUARD YOUR FUTURE
The time to start planning for the cost of long-term care is now. A Medicaid Planning lawyer will help you protect your assets from the potential costs of long-term care, and ensure you qualify for Medicaid when the time comes.
DON’T LOSE YOUR ASSETS: START MEDICAID PLANNING TODAY!
Request a free consultation with an experienced Medicaid Planning lawyer and take the first step towards safeguarding your future.
THE GUIDANCE YOU NEED TODAY FOR THE CARE YOU NEED TOMORROW
70% of people over age 65 will need long-term care at some point. In Ohio, the average cost of nursing home care is $7,800/month, and an assisted living facility or home health aide will cost over $4,000/month. These costs can quickly deplete your life savings and assets! A Medicaid Planning lawyer can help protect your assets from the costs of long-term care, and set you up to qualify for Medicaid when the time comes—but the time to start planning is now!
MEDICAID ASSET PROTECTION
An attorney can help strategically transfer assets into trusts, or convert countable assets into exempt assets.
MEDICAID ELIGIBILITY GUIDANCE
A Medicaid Planning lawyer will understand the complex rules of Medicaid qualification, including the look-back period.
long-term care planning
Create a plan to account for the potential costs of long-term care, and protect your spouse in the event you need nursing home care.
DOWNLOAD OUR FREE GUIDE & LEARN HOW YOU CAN QUALIFY FOR MEDICAID
Discover the 8 most common mistakes people make when paying for long-term care, and how to avoid them. This free guide to understanding Medicaid includes detailed information and straightforward strategies to help you preserve your assets without sacrificing quality of care. Download our Medicaid Planning guide for free.
COMMON QUESTIONS ABOUT HOW TO QUALIFY FOR MEDICAID
Don’t wait until it’s too late to start planning for the cost of long-term care. Below, you’ll find answers to the most common questions our Medicaid Planning lawyer gets asked.
What's the difference between Medicare and Medicaid regarding long-term care?
- Medicare primarily covers short-term skilled nursing care after a hospital stay, and it has strict limitations. It does not cover the majority of long-term custodial care.
- Medicaid, on the other hand, is a needs-based program that can cover long-term care costs, including nursing home care, for those who meet specific income and asset requirements.
What is the "look-back" period in Medicaid planning?
The “look-back” period is a timeframe during which Medicaid reviews your financial transactions to ensure you haven’t given away assets to qualify for benefits. In most states, this period is 5 years. This is to prevent people from just giving away all of there assets before applying for medicaid.
Can I protect my home if I need long-term care and Medicaid?
Yes, there are strategies to protect your home. In some cases, it may be an exempt asset. However, Medicaid may place a lien on the home to recover costs after your death. A Medicaid planning attorney can advise on specific strategies, such as placing the home in a trust.
What are some common asset protection strategies in Medicaid planning?
Common strategies include:
- Establishing irrevocable trusts.
- Converting countable assets to exempt assets.
- Using spousal protection strategies.
- Personal care agreements.
It is very important to consult with an elder law or Medicaid Planning lawyer before attempting these strategies.
Why is long-term care planning important, even if I'm healthy?
Long-term care costs can be extremely high and can quickly deplete your savings. Planning ahead can help you:
- Protect your assets.
- Ensure you receive the care you need.
- Reduce the burden on your family.
- Give you peace of mind.
When should I consult a Medicaid planning attorney?
It’s best to consult a Medicaid Planning attorney as early as possible. Proactive planning can maximize your options and protect your assets. Even if you’re facing an immediate need for long-term care, an attorney can still provide valuable guidance.
MEDICAID PLANNING ARTICLES & RESOURCES
Explore our collection of long-term care planning and Medicaid planning articles for more information about how to protect your assets from the nursing home.
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request a free consultation with a MEDICAID PLANNING LAWYER
Now is the time to start protecting your assets from the cost of long-term care. Especially with Medicaid changes on the close horizon, it’s crucial that you begin planning now to ensure you are not negatively impacted by impending changes. Request a free consultation today.
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