At ElderLawLexington | McClelland & Associates, we are proud of our record in securing Medicaid services for our clients. Our law firm can develop a comprehensive Medicaid eligibility and asset protection plan for your loved one, whether in crisis or long before there is a need for nursing home care. Advanced Medicaid planning is one of the most important parts of any estate planning process. If your loved one’s estate planning documents don’t help achieve Medicaid eligibility without requiring them to spend down all their life’s savings, then something is probably wrong with their estate plan. At ElderLawLexington, our attorneys have extensive experience in managing the estate planning process for people concerned about Medicaid eligibility.
Medicaid is a joint federal and state program that provides assistance to low-income individuals, as well as people who are over 65, disabled or blind. Medicaid is a means tested program, meaning that both income and resources will be considered when determining eligibility. Medicaid will pay long-term care expenses for individuals who qualify. There are several benchmark tests that an individual must pass in order to qualify for help with long-term care through Medicaid. Two primary concerns regarding whether Medicaid planning is appropriate for you are as follow:
For eligible people, Medicaid covers the following:
The high cost of long-term care, together with the fact that most seniors will eventually find themselves in a nursing home at some point in their lives, has made proper Medicaid planning a critically important issue for many seniors and their families. Medicaid planning helps families ensure that a spouse will not be impoverished by nursing home expenses and that a single nursing home resident is not required to become destitute to receive Medicaid. It can also protect the family home from estate recovery and can even allow someone to leave an inheritance to their families. Medicaid is the single largest payer of nursing home bills in America and serves as the option of last resort for people who have no other way to finance long-term care. Although Medicaid requirements vary from state to state, they all share one common element, that being complexity. Kentucky specifies a maximum allowed income for individuals and couples in order to qualify for Medicaid. Also, the applicant’s total assets cannot exceed a specified amount called the Individual Resource Allowance, which is consistently very low.
As attorneys skilled in Medicaid, ElderLawLexington is often people’s first point of entry into the long-term care system. People come to us with their worries and problems related to long-term care and incapacity planning. Most people do not realize that Medicaid is not just for the poor or impoverished. Generally, our clients who need Medicaid planning are middle class or upper-middle class people who have saved their entire lives for retirement, only to be shocked and dismayed at the incredibly high cost of long-term care.
With Medicaid planning at ElderLawLexington, we will help you:
Our Medicaid planning attorneys at ElderLawLexington provide individuals a sense of control, bringing peace of mind to families at a time of great medical need. Our attorneys are uniquely qualified to provide legal advice and representation in all legal matters relating to Medicaid eligibility and planning. The Medicaid application process can be lengthy, confusing and fraught with pitfalls. Let ElderLawLexington | McClelland & Associates, PLLC guide you through the process in a professional and expedient manner.