As a senior, the likelihood that you (or a spouse) will need to qualify for Medicaid increases exponentially because the likelihood that you will need long-term care increases as well. Moreover, the cost of that care will be high. Planning for the possibility that you will need to rely on Medicaid requires learning more about the Medicaid eligibility requirements. The Huntersville Medicaid planning attorney at Potter Law Firm explains what you need to know about the Medicaid look-back … [Read more...] about What You Need to Know about the Medicaid Look-Back Rule
There are many limitations imposed by Medicaid on the financial resources of applicants. If you wish to protect your eligibility for Medicaid benefits in the future, it is important to discuss your options with our Charlotte Medicaid planning attorney. Issues to consider during your Charlotte Medicaid planning should also include how and when you can transfer assets out of your estate. The cost of long-term care is extremely high and continues to rise. According to some reports, the national … [Read more...] about Charlotte Medicaid Planning to Protect Eligibility
When one spouse applies for Medicaid benefits in order to fund long-term healthcare, the other spouse is often referred to as the “healthy spouse” or the “community spouse.” If you know anything about Medicaid benefits, you know that protecting your assets from Medicaid recovery is typically a concern, this concern grows when there is a healthy spouse involved. Let our Charlotte Medicaid attorney explain strategies for protecting the healthy spouse while applying for Medicaid benefits. Medicaid … [Read more...] about Charlotte Medicaid Attorneys Explain How to Protect Healthy Spouses
Medicare will pay for covered medical expenses and convalescent care after surgery, but it will not pay for long-term custodial care. This type of care is very expensive, and most people cannot comfortably pay out-of-pocket. As a result, many elders seek Medicaid eligibility, because Medicaid will pay for long-term care. Medicaid pays for the majority of the long-term care that is received by seniors in the United States. Why would this be the case when most people are going to qualify for … [Read more...] about What Assets Can You Have and Still Qualify for Medicaid?
The Florence Medicaid attorney at The Potter Law Firm is experienced in Medicaid planning and can assure you that all of our planning strategies are absolutely legal and ethical. While many people see Medicaid planning and asset protection as an exercise in hiding assets from the government, that is not what Medicaid planning entails. Our Florence Medicaid attorney is here to guide you through an entirely ethical and very useful process. Full Disclosure is Always Practiced Our Florence … [Read more...] about How Ethical is Medicaid Planning?
The Medicaid waiver program can come into play if you need long-term care toward the latter portion of your life. Before we look at the details, we should provide a general overview so that you understand the lay of the land. The fact is that the majority of senior citizens will eventually need long-term care so if you make no advance plans you could be unprepared for the cost when the time comes. With this in mind, it is important to consider Huntersville Medicaid planning so let our … [Read more...] about Medicaid Waivers and Huntersville Medicaid Planning
Most people will need living assistance eventually, and Medicare does not pay for custodial care, which is the type of care you would receive in a nursing home or assisted living facility. Although Medicaid can provide coverage for long-term care, what happens when you pass away and Medicaid comes after your assets? Let our Florence Medicaid lawyer explain how to protect assets from nursing home and Medicaid recovery. Medicaid and Long-Term Care Coverage The Medicaid program provides … [Read more...] about How to Protect Assets From Nursing Home and Medicaid Recovery
As you can see from our website, the attorneys at the Potter Law Firm are highly committed to educating their clients and the residents of Kentucky and North Carolina. We offer a comprehensive electronic library of special reports covering numerous estate planning and elder law issues. We also update our blog periodically in order to provide updates on the ever-changing laws in this field. Finally, our free estate planning and elder law seminars are always a go-to source for information. We … [Read more...] about Who is Eligible for Medicaid?
A 529 College Savings Plan is a common college savings plan used by many families to save for future college expenses. These college savings plans were first included in the Internal Revenue Code in 1996 and have many important benefits. One concern that some people have is how these plans might affect their chances of qualifying for Medicaid benefits in the future. Specifically, the concern is that a 529 College Savings Plan may be counted as an asset by Medicaid. Our attorney can help you to … [Read more...] about How Does a 529 College Plan Affect Charlotte Medicaid Planning?
When it comes to paying the costs of long-term nursing home care, families can easily exhaust all of their savings trying to cover the bill. For nursing home residents, the costs of long-term care can diminish your estate to the point that you have nothing left to pass on to your family. The good news is, there are steps you can take to save as much of your assets as possible while still receiving the care you need. Our attorneys can help guide you through the process of Medicaid crisis … [Read more...] about Medicaid Crisis Planning