When an individual requires long-term care at home, in a nursing home, in an assisted-living facility, or in another type of care facility, the costs can quickly overwhelm their family. If you have concerns about paying for current or future long-term care, a Medicaid planning lawyer in Atlantic City, NJ, from Bratton Estate & Elder Care Attorneys can help.
We can explain your options and create a plan based on your family’s unique needs and circumstances. Call (609) 493-4979 today to get started.
Medicaid Provides Coverage for Atlantic City Long-Term Care When Most Insurance Does Not
Private insurance and other public health plans do not cover long-term care, including nursing homes and assisted-living facilities, but Medicaid benefits do. Medicaid is the best option for most families because long-term care insurance is not common or affordable. However, Medicaid requires you to meet strict asset and income limits to qualify. In practice, this means many families spend down their savings to provide care for an aging loved one.
This does not have to be the reality for your family, though. With proper Medicaid planning and oversight by a lawyer from Bratton Estate & Elder Care Attorneys, you can protect many of your assets while also qualifying for Medicaid when you need it.
We can also help if your loved one needs long-term care now or is already in a nursing home or other long-term care facility. Call (609) 493-4979 today to discuss your case with a Medicaid planning lawyer in Atlantic City, NJ, on our team and learn more about what we can do to help you.
Understanding How Medicaid Planning Works in Atlantic City, NJ
Medicaid qualifications include asset and income limits, so you can expect them to review your finances when a member of your household needs benefits. The Medicaid lookback period lasts for five years, meaning they will review your last five years of financial transactions when you apply for Medicaid benefits. Because of this, it is easier if we get started on Medicaid planning earlier, long before you need long-term care.
If we can begin the planning process more than five years before you need Medicaid, we have many more options for protecting a wide variety of assets. This could include:
- Creating an irrevocable trust to hold money and investments
- Transferring your assets into an account owned and controlled by someone else, a trusted fiduciary
- Gifting money or valuables to your heirs while you are still alive
- Combining several of these options to protect all or most of your assets from the Medicaid spend-down if you ever need long-term care
Even if we do not have five years before you or a loved one requires long-term care benefits, we can help you protect some of your nest egg. This could allow you to ensure your children and grandchildren receive the inheritance you worked hard to provide them.
If Medicaid discovers we took any of these actions within five years of applying for benefits, they will penalize you for a number of months and force you to pay for care out of pocket. However, our team can work with you to balance this penalty with the preservation of as many of your assets as possible. This will allow your family to retain many of your assets and allow you to get long-term care coverage sooner.
Bratton Estate & Elder Care Attorneys Will Walk You Through the Medicaid Planning Process in Atlantic City, NJ
The Medicaid planning process is easy to navigate when you have one of our lawyers on your side. Because the rules for Medicaid planning are so strict and complex, this is not something you want to try to do on your own. Our team knows the legal tactics we can use and how to employ them properly.
When you ask for our help, Bratton Estate & Elder Care Attorneys will create a unique plan based on your family’s needs. We will discuss your assets and financial situation with you, including any adult dependents or other members of your family who require your financial support. You can trust us to create a plan focused on your priorities and preferences. Call (609) 493-4979 today to learn more.
Our Team Can Help with All Your Atlantic City Elder Law Needs
In addition to Medicaid planning, our team includes not only elder law attorneys but also certified dementia practitioners, social workers, and a registered nurse who can walk your family through the life care planning process if you or a loved one is facing a progressive or terminal illness.
This includes helping you understand what will happen as you need additional care and support and letting you make decisions about your end-of-life care in advance. We can help if you or an aging loved one has concerns about how to handle financial and health decisions in light of their advancing poor health.
Our team also helps families with many other aspects of estate planning and elder law, including:
- Estate planning and asset preservation
- Estate administration
- Navigating the probate process
- Estate litigation representation
- Emergent elder law concerns
- Proactive elder law actions
Talk to a Medicaid Planning Lawyer in Atlantic City, NJ
A Medicaid planning lawyer in Atlantic City, NJ, from Bratton Estate & Elder Care Attorneys can help you and your family put a plan in place to pay for long-term care today or in the future. A member of our team can meet with you and your family in your home in Atlantic City, NJ, or in our New Jersey offices in Haddonfield, Linwood, Moorestown, or Trenton.
We also have a Philadelphia area office if you live or work in the city and want to consult with our team.
Call (609) 493-4979 today to learn more about our Medicaid planning services.