Medicaid Asset Protection
You don’t have to deplete your assets to qualify for Medicaid.
Most people don’t know this, but there are legal strategies to help you become eligible for Medicaid without spending down all of your savings.
As we age the likelihood of developing some type of chronic, progressive illness increases. Whether you’re talking about a spouse or parent, being a caregiver is emotionally and physically exhausting. And often the ill parent or spouse will need more care than can be provided at home.
Nursing homes are extremely expensive, costing on average $11,000 a month. You could run through your savings quickly, leaving nothing for a spouse to live on or to leave to family members.
It’s important to have a plan to protect assets while also providing for the needs of the person who requires nursing home care. Whether the person in need is your spouse or parent, Robert M. Goldberg & Associates can help with asset protection through Medicaid Planning.
Check out our
Estate Planning FAQs and Glossary of Common TermsLong-term care is expensive. You deserve the highest quality of care possible as you age. Unfortunately, if your monthly income or resources are near, or over, the financial eligibility limits for Medicaid, you risk being denied benefits. It can be devastating for you and your family caregivers to watch your assets dwindle so you can qualify for the long-term health care you need.
Medicaid Planning provides much needed relief to family caretakers.
Fortunately, even if your income is above the limit, it may still be possible for you to qualify for Medicaid benefits. Understanding how your assets affect your Medicaid eligibility is essential to having the best shot at being approved for benefits. Robert M. Goldberg & Associates has the experience and knowledge to help you explore different strategies for gaining eligibility for Medicaid while also protecting your assets.
