If you are a community spouse for purposes of Medicaid, then you may be entitled to certain protections when your spouse becomes a nursing home resident so discuss your options with our Florence Medicaid lawyer. A community spouse is the healthy spouse of a Medicaid recipient who still lives at home while the recipient is in a nursing home. In light of the income and asset limitations imposed by Medicaid, there are some protections in place for the community spouse who remains in the home, … [Read more...] about What Protections are Available for the Healthy Spouses of Medicaid Recipients?
What is Considered a Countable Asset for Medicaid?
When you have been fully capable throughout your life, the concept of long-term care can seem alien to you. This may be especially true if you have taken good care of your health throughout your life. You could assume that it is unlikely that you ever need long-term care, but cannot overlook the costs of long-term care should you ever need it. Here, our Charlotte Medicaid lawyers will explain Medicaid countable assets. Longevity plays a factor in the need for early planning First of all, we … [Read more...] about What is Considered a Countable Asset for Medicaid?
What if I Can’t Afford Nursing Home Care?
Do you have a plan in place to deal with the high costs of any future nursing home care? If not, then you need to discover how a Medicaid lawyer can help you protect yourself and your interests. We often hear about how important it is to prepare for the future. Whether it is business planning, legacy planning, or retirement plans, experts continually remind us that it’s vital to be prepared for uncertainty. With more than half of us expected to one day require long-term care in a nursing home or … [Read more...] about What if I Can’t Afford Nursing Home Care?
Will Medicaid Protect My Spouse?
Under the rules of the Medicaid program, most of the income that is due to the institutionalized spouse must be used to help defray their long-term care costs. However, there are ways to protect assets for the healthy spouse, so discuss your options with our Charlotte Medicaid lawyers. If your spouse is applying for Medicaid to pay for long-term care and you are still living at home, you are referred to as the community spouse. There are specific provisions in place to provide minimal … [Read more...] about Will Medicaid Protect My Spouse?
Understanding Changes in Medicaid Eligibility
One estate planning issue, that is often overlooked, is the effect that inheritances can have on their loved ones. There are so many different ways to pass on your property and assets after your death and these different methods have both pros and cons. The reality is that your family members and close friends may all be experiencing different life situations, which you cannot predict. One of those situations is needing government benefits, such as Medicaid. Our Medicaid lawyers can explain the … [Read more...] about Understanding Changes in Medicaid Eligibility
Include Asset Protection in Your Medicaid Plan
When you have been fully capable throughout your life, the concept of long-term care can seem alien to you. This may be especially true if you have taken good care of your health. You may assume that it is unlikely that you will ever need long-term care, but you cannot overlook the costs of long-term care, should you ever need it. With careful planning, you can position your assets to allow you to qualify for Medicaid, while protecting some of the financial legacy you spent your lifetime … [Read more...] about Include Asset Protection in Your Medicaid Plan
If You Don’t Understand the Medicaid Look-Back Rule You May Be in Trouble
Medicaid places certain limitations on the amount of financial resources you own, as well as how and when you can transfer assets from your estate to someone else. Long-term care costs are often too expensive for most people and they are continuing to increase every year. Currently, the national average cost, for a year of nursing home care, exceeds $90,000. For this, and many other reasons, Medicaid planning is important for everyone. Our Ashland Medicaid attorneys can advise you regarding the … [Read more...] about If You Don’t Understand the Medicaid Look-Back Rule You May Be in Trouble
Florence Medicaid Lawyer Explains Medicaid Look-Back
When it comes to Medicaid eligibility, there are limitations on financial resources, as well as how and when you can transfer assets out of your estate. Long-term care costs are exorbitant, and they are going up all the time. At present, the national average charge for a year in a nursing home is more than $90,000, so the thought of ever-increasing costs is not a very pleasant one if you are looking toward the future. For this, and many other reasons, Medicaid planning is very important. Let … [Read more...] about Florence Medicaid Lawyer Explains Medicaid Look-Back
Medicaid Attorneys Explain Medicaid and Medicaid Waivers
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 majority of senior citizens will eventually need long-term care so if you make no plans you could be unprepared for the cost when the time comes. These costs make it important to consider Medicaid planning so let our Medicaid attorneys explain what you need to … [Read more...] about Medicaid Attorneys Explain Medicaid and Medicaid Waivers
Including Protections for Healthy Spouses in Your Huntersville Medicaid Planning
If your spouse were applying for Medicaid to pay for long-term care and you were still living at home, you would be referred to as the community spouse. Because of the asset and income limits, there are certain provisions in place to provide minimal protections for the community spouse. One of them is the monthly maintenance needs allowance. Under the rules of the Medicaid program, most of the income that is due to the institutionalized spouse must be used to help defray the long-term care … [Read more...] about Including Protections for Healthy Spouses in Your Huntersville Medicaid Planning
