With careful Medicaid planning, you may be able to preserve some of your estate for your children or other heirs while meeting the Medicaid asset limit. Depending on your situation, this may require sophisticated planning by knowledgeable, experienced professionals using
an irrevocable trust. A trust is a legal entity under which one person — the “trustee” — holds legal title to property for the benefit of others — the “beneficiaries.” Whether trust assets are counted against Medicaid’s resource limits depends on the terms of the trust and who created it.
There is a solution for protecting your estate. With a properly designed Medicaid Plan, seniors can create a long-term care plan that will provide for their care and protect their savings. Medicaid Planning is time sensitive. Typically, the sooner you start planning, the more of your estate can be saved from being spent down to pay for your nursing home or assisted living costs.
The Law Offices of Ron Feinman has extensive experience navigating the complex Medicaid rules to help individuals preserve their estates and plan for costly long-term assistance and is committed to helping Virginia seniors and their families plan for the high cost of long-term care. If you are elderly, or if you have a parent or loved one who is elderly, contact us today to learn what Medicaid Planning options are available to you.
Do you have questions about protecting your home and family or your long-term care? Let us guide you to the solutions you need.