As we age and face terminal, chronic, or debilitating health conditions, many of us need in-home care, nursing facilities, assisted living, and other types of long-term care. Unfortunately, this type of care is very expensive and not covered by private insurance. Most people have to rely on Medicaid to pay for their Abington, PA nursing home or assisted living facility.
At Bratton Estate & Elder Care Attorneys, we can help you plan for Medicaid, preserving as many assets as possible and allowing you to qualify for Medicaid sooner. A Medicaid planning lawyer in Abington, PA can help you no matter if you need long-term care today or are planning for the possibility in the future. Call (856) 857-6007 to learn more.
Getting Medicaid Coverage as Soon as Possible Ensures You Get the Care You Need
Medicaid is the only public program that pays for long-term care services, so it is vital for those who need nursing home or assisted living care. However, Medicaid is also a need-based program. You only qualify if you meet very strict rules about income and assets.
If you or a loved one requires nursing home placement, you could have to spend down all the money you worked hard for—including your children’s inheritance—to cover the cost of care before Medicaid approves you for benefits.
At Bratton Estate & Elder Care Attorneys, our goal is to prevent this. We can help you qualify for Medicaid sooner while preserving as many of your assets as possible. We understand how Medicaid laws work and the legal tactics available to help our clients protect their hard-earned savings and the promise of a financially stable future for their family.
Call (856) 857-6007 today to learn how our team can help you get the care you need while preserving as many assets as possible.
Medicaid Has Strict Rules About Your Income and Assets
Medicaid rules require that every person who receives this type of coverage meet stringent requirements about how much money they make and how much they have in the bank. If we can reduce this amount and help you get Medicaid sooner, more could be left for your children and other heirs.
However, Medicaid does not let us simply move the money from your account. Instead, there is a look-back period of five years. They will look at your transactions over the last five years and analyze them to ensure you did not break the rules by hiding assets or giving them away.
Facing Penalties for Violating Medicaid Rules
If they find you violated their rules, you will need to serve a penalty. This is a time period when you cannot apply for Medicaid benefits, so you will need to pay out of pocket for long-term care. The length of your penalty depends on the amount of money involved. Once you serve the penalty, you can apply for benefits and, as long as you meet the criteria, you will get them without any additional penalties.
Bratton Estate & Elder Care Attorneys Can Help You Preserve Assets
If you need long-term care provided at home or in the community, you will likely eventually need Medicaid coverage to help pay for your care. If you begin the planning process and likely have more than five years before you need long-term care, we may be able to help you protect almost all your assets by:
- Putting it in an irrevocable trust
- Gifting it to heirs early
- Moving it into an account owned and controlled by someone else
- Taking other steps to lower your assets before Medicaid reviews your records
Even if you do not have five years before you need long-term care—in fact, even if you are already in long-term care—the team from Bratton Estate & Elder Care Attorneys can help. We can put a plan in place that “breaks the rules” during the look-back period but balances this penalty to preserve as many assets as possible.
We understand how important your nest egg is to you and your family. We can help you protect your family’s financial future while getting you or a loved one much-needed care.
Bratton Estate & Elder Care Attorneys Will Design a Plan that Works for Your Family
Medicaid planning is an investment in your family’s future and a promise that you will be able to get the level of care you need when you need it. Our attorneys will get to know your family, working to understand your unique needs and challenges to create a plan that works for you.
In addition to Medicaid planning, we offer a full menu of services to help with estate planning, asset preservation, estate administration, and more. We also offer life care planning—the best way to get peace of mind about your aging loved one’s future or your own if you face a progressive or terminal condition. Life care planning allows you to create a comprehensive plan to manage your care and financial well-being for today and the future.
Talk to a Medicaid Planning Lawyer in Abington, PA
If you or your loved one has concerns about how to pay for nursing home care, assisted living care, or other long-term care options, a Medicaid planning lawyer in Abington, PA from Bratton Estate & Elder Care Attorneys can help. We can meet with you at our Philadelphia office or at a location that is better for you in Abington, PA.
Let us get to know your family so we can put together an asset protection plan that allows you to save your hard-earned money for your loved ones while still getting Medicaid coverage as early as possible.
Call (856) 857-6007 today to discuss your needs with a member of our team.