Introduction:
As individuals age, the need for comprehensive healthcare and long-term care services becomes increasingly important. For many seniors in the United States, Medicaid is a vital resource that provides financial assistance for medical expenses. However, navigating the complexities of Medicaid can be daunting, especially when it comes to ensuring eligibility while preserving one's assets. This is where Elder Law Medicaid planning steps in, offering individuals and families the opportunity to secure their future while accessing the necessary care. In...
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Tag Archives: "Medicaid Planning"
13 Oct
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Promote Nursing Home Planning for Older Adults!
Concerns about the skyrocketing costs of nursing home care are supported. Some reports indicate nursing home care in Wisconsin costs has risen above the national average. For quality care, many cost $12,000 per month or more. Medicaid may foot the bill, but without proper planning, an individual is typically required to spend his or her life savings before Medicaid steps in.
There are several ways you and your parents can protect their assets and protect them from losing their life...
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01 Sep
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Why Is a Power of Attorney So Important?
A power of attorney is a legal document that names an agent to make financial or medical decisions. This form is used when the individual known as the “principal” is unable to make decisions for one reason or another, or, cannot be present to sign legal documents during financial transactions.
Everyone should have designated an agent for medical and financial decisions. If you haven’t named an agent, it’s time to draft the documents with an elder law attorney experienced in...
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03 Mar
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How Funeral Trusts Help Persons Qualify for Medicaid
Irrevocable Funeral Trusts (IFTs), or differently phrased, Irrevocable Funeral Expense Trusts, allow persons to pay for their funeral and burial costs, also known as final expenses, in advance of their death. They are legal agreements that not only allow peace of mind knowing that funeral funds are available when needed, but they are also an invaluable Medicaid planning tool. Essentially, IFTs provide a way for Medicaid applicants to lower their countable assets and meet Medicaid’s asset limit for qualification...
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09 Dec
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Providing Financial Security for Your Spouse and Children With Medicaid Planning
Long term care has now become one of the most common issues for Americans in retirement. Almost each of us is aware of someone who is presently at a medical care facility or nursing home, yet this is something, which we would personally never want to go through. According to recent studies, approximately 50% of Americans over age 65 will need a nursing home or assisted living facility, at some point in their lives. Long term care costs can...
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25 Jun
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Setting the Facts Straight: Things to Know About Medicaid
Medicaid was started in 1965 to provide health-related services to US residents with low income. The healthcare program is designed to assist people of every age and covers short term as well as long term stay in various healthcare facilities. Medicaid planning lawyer is a necessity for people with limited resources and costly needs for care.
1 In 5 Low-Income US Residents Need Medicaid
Medicaid was started in 1965 to provide health-related services to US residents with low income. The...
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16 Mar
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How can an Elder Law Attorney assist in Medicaid Planning?
We work our entire life to experience life and at the same time save for our retirement and beyond. What happens when we realize we may outlive those assets? It is time to plan for housing and care in the context of Medicaid Law. I work alongside a Life Care Planning agency to plan for best care and lifestyle and help you understand how to use your assets wisely and how to apply for available benefits without becoming impoverished.
Who...
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05 Feb
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The Importance of Using an Irrevocable Trust in Medicaid Planning
People often wonder about the importance of utilizing an Irrevocable Trust in Medicaid Planning. Undoubtedly, the gifting of assets can be done outright. So, why confuse things with a trust? The answer is that the gift transaction costs are only a portion of what needs to be considered. Many significant advantages that can result from gifting in trust are forfeited by the outright gifting. These advantages show the importance in utilizing Irrevocable Trusts in Medicaid and asset protection planning.
The...
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26 Dec
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Preserve Your Wealth with Estate Planning Services
Estate planning is one of the most important legal services and is a fundamental tool that ensures your entire family will be well taken care of after your passing. People assume that estate planning is meant only for the wealthy. In reality, it is the concern of everyone.
We all want our finances to remain in order and proper care given to our loved ones. Together, you and I can develop a valuable estate plan to assure your goals are...
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