Elder Law (Pre-Planning & Medicaid Crisis)
Elder law involves planning for complex health care, long-term care, and other issues facing elderly and disabled individuals. The substantial cost of nursing home care can wipe out a family’s nest egg and any inheritance for surviving family members. This area of the law and issues families face are constantly changing, including:
- Asset protection strategies
- Look back period to qualify for Medicaid
- Only one spouse requires long-term care
- Gifting assets to others
- Spending funds on permitted expenses
- Qualifications for Medicaid assistance
If you or a loved one is in need of immediate long-term care (i.e., a nursing home), you are likely asking how is that cost going to be paid. If you need to plan to apply for Medicaid to assist in paying for long-term care, we refer to this as Medicaid Crisis Planning. Medicaid is a government program that may pay for long-term care at home or at a facility, such as a nursing home. There are strict eligibility requirements that must be met before a person is eligible for Medicaid. Axis Estate Planning can assess your eligibility, provide a plan to protect as many assets as possible (you don’t necessarily have to spend down all of your life savings to qualify), implement the plan, and complete and file an application for Medicaid.
Your loved ones deserve the best elder care available. Axis Estate Planning is here to protect your family and help you understand Elder Law and Medicaid eligibility.
We also offer seminars on Elder Law and Estate Planning. Check our events page for upcoming seminars that are usually held in the Top of Troy Building.