With the average life expectancy increasing, the necessity for elder care is at an all-time high. Eldercare services can be expensive, leaving families to feel that they don't have any options. Thankfully, public services such as Medicaid are available to help families in the U.S. receive benefits to pay for late-in-life care. Medicaid was designed to help make health care more accessible to families that can't afford it, but the application process can be complicated.
The Medicaid attorneys with Heritage Law Office are eager to help those in Mequon plan for their late-in-life care. We can take the guesswork out of Medicaid planning and answer any questions you have along the way. The earlier you start the process, the better chance you have at receiving benefits. Call our office today.
Medicaid was created to benefit families that cannot afford the high cost of health care. Unfortunately, government bodies have created a highly complicated applications process to prove your eligibility.
The financial burden of late-in-life care is worrisome to people of all incomes. To qualify for long-term care benefits, Medicaid currently requires your total “countable” assets to be less than $2,000 for a single person (the threshold varies for a married couple). Many people don't fall under this threshold and consequently, believe that they are out of options.
There are a few different ways to receive these benefits, even if your assets are currently above the qualification threshold. Heritage Law Office can help Maquon residents qualify for Medicaid using a variety of planning strategies. Some of the strategies include:
- Creating an irrevocable trust to reduce your assets
- Transferring assets to a spouse or child
- Establishing a proper annuity to provide healthy spouses with monthly payments
- Spending excess assets on debts and other investments that can be passed on through a will or trust
Effective Medicaid planning with the help of Heritage Law Office can help you qualify and receive benefits. We can help you determine the best path to take when it comes to late-in-life care and create a plan to ensure you and your family's well-being.
Benefits of Heritage Law Office
Medicaid planning requires careful consideration and patience. It's in your best interest to enlist the help of an experienced Medicaid lawyer who can take stock of your assets and help you qualify for Medicaid.
Brad Sarkauskas with Heritage Law Office is a high-quality attorney with years of experience. He can help you assess your situation and accommodate your needs. Contact the office at (414) 253-8500 for a free case evaluation today.