Much like asset protection planning, Medicaid planning involves the use of irrevocable trusts to protect the things you worked so hard for during your life. The main goal of Medicaid planning is to protect your assets while still qualifying for Medicaid assistance to cover nursing home and other long-term care costs. The Medicaid rules and exception to those rules add some advanced complexities to planning. There are many myths to Medicaid that, depending on the situation and the planning involved, can be dispelled.
At Chawla Legal Group, we can help you plan to protect your assets from Medicaid recovery after you die, and asset protection and retention while you are living that will allow you to keep the bulk of your assets while still qualifying for Medicaid. You do not have to lose your house. You do not have to spend down all of your assets and cash in your retirement accounts to have Medicare the long-term care you need and deserve. You do not have to wait 60 months to qualify for Medicaid. It is possible to have over $250,000 in cash and still qualify immediately.
Chawla Legal Group provides clients with strategies and tools to meet their estate planning goals. Register for an upcoming workshop or call to learn more.
Take the Next Steps!
For more information on Medicaid and Long-Term Care planning, please call (596) 273-7157 or register for a free estate planning workshop today.