Georgia Medicaid Planning
The following story is fictional, but it reflects situations we commonly see when families begin the Medicaid planning process without professional guidance.
When Jim suffered a stroke, his daughter Linda suddenly found herself making decisions she never expected.
Doctors.
Nursing home care.
Insurance.
Finances.
Then someone asked a question that changed everything.
“Have you applied for Medicaid yet?”
Like many caregivers, Linda turned to the internet for answers.
She searched, “How do I qualify for Medicaid?”
The more she read, the more convinced she became that her father had too many assets to qualify.
Article after article talked about income limits, asset limits, and eligibility requirements.
Friends offered advice.
Neighbors shared stories.
One relative even said, “Move everything out of his name before you apply.”
Linda wasn’t trying to hide anything.
She wasn’t trying to break the rules.
She was trying to protect everything her parents had spent a lifetime building.
So before she ever completed a Medicaid application, she started making financial decisions.
She transferred money.
She changed ownership on accounts.
She helped move property into a family member’s name.
She believed she was planning.
Planning Comes Before the Paperwork
By the time Linda came to Robert M. Goldberg & Associates, she thought the hardest part was going to be completing the Medicaid application.
It wasn’t.
The application wasn’t the issue.
The financial decisions made before the application were.
Some of those transfers now had to be reviewed under Medicaid’s five-year look-back period, a rule that examines certain financial transactions made before someone applies for Medicaid.
The planning opportunities Linda had hoped to find did exist.
Unfortunately, she discovered them only after making decisions that couldn’t easily be undone.
The Biggest Mistake We See
One of the biggest misconceptions about Medicaid planning is that families believe they have to “get rid of” assets before applying.
In reality, every family’s situation is different.
Making decisions based on internet searches or well-meaning advice can sometimes create challenges that could have been avoided with thoughtful planning.
The goal isn’t simply to qualify for Medicaid.
The goal is to create a plan that protects your loved one while making informed decisions every step of the way.
That’s where professional guidance makes all the difference.
At Robert M. Goldberg & Associates, we help families throughout Georgia understand their options before important financial decisions are made. Through thoughtful Medicaid planning, elder law guidance, and long-term care planning, we help clients move forward with clarity and confidence.
Because the application isn’t the whole plan.
The best Medicaid applications begin with a thoughtful Medicaid plan.
Contact Robert M. Goldberg & Associates today at 770-229-5729 to schedule a Medicaid Crisis Consultation.
Watch our free webinar to learn more about Medicaid and Estate Planning.
