If you have concerns about how you can pay for long-term care, including nursing home or assisted living care, in Haddon Township, NJ, Bratton Estate and Elder Care Attorneys can help. Whether you need this care today or years down the road, we can put a plan in place that allows you to qualify for Medicaid sooner while protecting some of your assets. Let us explain our legal strategies and build a plan for your family.
Call us today at 856-857-6007 to get started with a Medicaid planning lawyer in Haddon Township, NJ.
Medicaid Is Often the Only Option to Pay for Nursing Home and Assisted Living Care
Health insurance does not cover nursing home care. Instead, families are left to pay these costs out-of-pocket until they spend down a significant portion of their nest egg struggling to pay for care and their loved one finally meets the qualifications of Medicaid. But it does not have to be this way.
At Bratton Estate and Elder Care Attorneys, our team believes you should not have to spend all your savings and the assets you planned to give to your children and grandchildren on ensuring your parent or spouse has the level of care they need. Our team will work with you to develop a Medicaid planning strategy based on your unique needs and your financial situation.
With advance planning, we may be able to protect all of your assets. If your loved one is already in the long-term care facility, a Medicaid planning lawyer in Haddon Township, NJ can still help.
Understanding Haddon Township, NJ, Medicaid Planning
When we go to work on your Medicaid plan at least five years before you need to go into assisted living or nursing home care, we can often protect all your assets from the Medicaid spend-down process. When this happens, we can use many tools to protect your assets, including:
- Creating a trust to hold your assets for your family
- Gifting valuables or cash to your heirs now while you are still alive
- Moving money into your child’s or grandchild’s accounts
- Donating money to a favorite charity
While this is the best case scenario, many of our clients do not have five years before they or a loved one needs around-the-clock care. Instead, we need to help them put a plan in place to protect as many assets as possible while getting them approved for Medicaid as soon as possible. This situation is a bit more tricky, but we will handle it every step of the way.
Once you call us, our Medicaid specialists will go to work developing a plan that:
- Minimizes the amount you have to spend down
- Maximizes the assets your family gets to keep
- Helps you understand the Medicaid penalty and how it impacts your assets
- Gets your loved one get the level of care they need as soon as possible.
Let Us Develop a Medicaid Plan and Protect Your Assets Today
The rules that outline Medicaid qualification are complex. Even a small mistake in your Medicaid planning could cause you to face significant penalties and cost your thousands of dollars. This is why we recommend giving our Medicaid planning team a call before you take any action to try to pay for long-term care or qualify for Medicaid.
Medicaid requires you to meet strict income and asset limits before you can qualify. Even if you moved your assets around to meet these limits, they look back at five years of your financial records to ensure you followed their strict rules. If they see that you gifted assets, sold off valuables, or moved money into a family member’s account, you will face penalties. Medicaid penalties can cost you thousands of dollars and delay getting coverage.
Our Haddon Township, NJ, Asset Protection Team Cares About Your Family
There is no one-size-fits-all solution for estate planning and elder care at Bratton Estate and Elder Care Attorneys. When we help your family with Medicaid planning, just like with everything we do, it is customized to meet your needs and your family’s unique financial situation.
By having compassionate and understanding attorneys on our staff, we can put every client at-ease and make stressful elder care conversations easier. Our clients feel comfortable with our attorneys and are confident our team will advocate for their loved one while also protecting their assets.
Let our team go to work for your family today, helping your loved one get Medicaid sooner while also protecting as many of your assets as possible. We can navigate the complex Medicaid laws for you.
Talk to a Medicaid Planning Lawyer in Haddon Township, NJ
If you worry about how you can pay for your own future care or the more immediate care of a loved one, the team from Bratton Estate and Elder Care Attorneys can help. Our team is here to develop a plan for paying for Haddon Township, NJ, nursing home or assisted living care.
Meet with one of our attorneys who will review your family’s financial situation, current health status, and possible future needs. Once we understand your preferences and priorities, a Medicaid planning lawyer in Haddon Township, NJ can go to work building a Medicaid plan that allows your loved one to get the nursing care they need while you hold onto some of your hard-earned cash.
Call our office today at 856-857-6007 to learn more or to schedule an appointment.