Can an attorney help you with Medicaid planning?

On Behalf of | Nov 17, 2022 | Nursing Home Planning

Your need for long-term medical care as you age can be costly, threatening to completely devastate your estate and the financial protection that you’d intended to provide to your loved ones. The mere thought of that can be stressful, but if you’re reading this post then you’re ahead of most people since you’re at least thinking about what you can to plan for your possible future.

How an attorney may be able to help you

Planning for your future care needs isn’t something that you should do on your own. After all, there are a lot of legal nuances that, if improperly handled, could leave you with a less than desirable outcome, perhaps without access to the care that you need.

Fortunately, an attorney who is experienced in estate planning and Medicaid/Mass Health planning may be able to help you create an appropriately thorough plan. How? Here are some of the ways that an attorney may prove invaluable to you in these matters:

  • An attorney can help you reduce your income and assets: In order to qualify for Medicaid, you’ll have to reduce your assets and income in a way that allows you to meet eligibility requirements. That’s easier said than done, and improperly doing it can leave you with less wealth while still being ineligible for the benefits that you want. But an attorney can help you meet eligibility requirements while still ensuring that your assets are kept within your family.
  • An attorney may be able to help you keep your house: There’s a lot of wealth built up in your residence. By engaging in effective Medicaid planning, you may be able to save your residence from falling victim to attempts to meet eligibility requirements.
  • A legal professional can help you plan for emergencies: A lot of people think that they have sufficient time to engage in Medicaid planning. As a result, they procrastinate. Unfortunately, though, long-term care needs often come up during emergency medical situations. If you’re not prepared, then your estate can take a hit. An attorney may be able to help you avoid that sort of outcome.
  • An attorney can help you navigate home care: Most individuals who need long-term care prefer to receive it in their home. If you’re not careful, though, you could end up jeopardizing your ability to obtain governmental assistance. An attorney can help you navigate the complexities of the law here so that you stand a better chance of obtaining the kind of care that you want.
  • An attorney can assist you in creating a holistic estate plan: Although Medicaid planning can be a crucial aspect of your estate plan, there are a lot of other considerations that you need to take into account if you want to ensure that your estate is as fully protected as possible. An attorney who is well-versed in this area of the law can help you learn more about your estate planning options and how to use them to your advantage.

Now is the time to reach out to a legal professional of your choosing

Hesitation is your greatest enemy in the estate planning process, especially when it comes to Medicaid planning. That’s why now is the best time to start talking about your future and how to effectively plan for it. You may find that after having a conversation with one of these legal professionals that you feel a sense of relief. Hopefully then you can take comfort knowing that your future is in good hands, and you can focus on the things that truly matter to you in life.