Do you need an attorney for even “simple” Medicaid planning? This depends on your situation, but in most cases, the prudent answer would be “yes.”
The social worker at your mother’s nursing home assigned to assist in preparing a Medicaid application for your mother knows a lot about the program, but maybe not the particular rule that applies in your case or the newest changes in the law.
In addition, by the time you’re applying for Medicaid, you may have missed out on significant Medicaid planning opportunities.
The best bet is to consult with a qualified professional who can advise you on the entire situation. At the very least, the price of the consultation should purchase some peace of mind.
And what you learn can mean significant financial savings or better care for you or your loved one. This Medicaid planning may involve the use of trusts, transfers of assets, purchase of annuities or increased income and resource allowances for the healthy spouse.
If you are going to consult with a qualified professional, the sooner the better. If you wait, it may be too late to take some steps available to preserve your assets.
For more information about Medicaid planning, eligibility and application, visit Medicaid.com and Medicaid.gov: the official U.S. government site for Medicare | Medicaid
Reach the Elder Law, Estate Planning a Probate Law experts at R. F. Meyer & Associates by calling 614-407-7900, by sending an email to [email protected], or by filling out the contact form at ElderLaw.US/Contact.
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