Providing Comprehensive Medicaid Long-Term Planning Guidance Through Experience And Compassion
Because of the rising costs of long-term care in a skilled nursing facility and the strain this can put on finances, it’s important for aging people to include long-term care planning in their estate plans. Medicaid planning is just one part of long-term care planning, but it can be incredibly important. Planning now can protect your assets should you or your loved one need to be in a skilled nursing facility.
Mara Law, P.A., has helped numerous clients throughout Florida ensure that their estate plans not only account for the estate but also create strong plans for long-term care. We pride ourselves on being the compassionate and understanding guide you need to take the right direction when you’re unsure of where else to turn. Wendy Mara and her team have more than a decade of experience handling a range of estate planning matters. You can be assured that we will listen to your needs and circumstances so we can truly be your advocate when you need it most.
Helping You Understand Medicaid And Your Eligibility
Medicaid Long-Term Care is an important resource meant to give certain individuals access to skilled nursing care by offsetting the costs. However, it’s important for people to understand that there are certain qualifications that must be met in order to receive benefits. These eligibility requirements can impact how you plan for long-term care. For example, you must be a legal Florida resident, over the age of 65 or between the ages of 18 and 64 years old and designated as disabled by the Social Security Administration, in need of nursing facility level of care, and meet the financial requirements for Florida Medicaid.
Our attorneys are highly skilled and have extensive experience incorporating a full range of estate planning tools, including Medicaid long-term care planning, into our clients’ estate plans. We can assess your situation and identify your options. We can then guide you in taking the right next steps, including helping you collect and consolidate important medical records and information, walking you through the sometimes complicated process of applying for Medicaid and ensuring that you do so at the correct time, and explaining how your financial choices and receipt of monetary gifts will impact your Medicaid eligibility down the road.
Medicaid’s Five-Year Look-Back Period
There are income limits on qualifying for Medicaid benefits for long-term care. The government can look back at your finances for up to five years prior to your application in order to determine if you qualify. This look-back period makes it important to plan as early as possible for possible long-term care needs in order to structure your finances and estate in a way that will allow you to maintain your standard of living while qualifying for Medicaid benefits. We offer both advanced planning as well as emergency planning for people who need benefits as soon as possible due to unforeseen circumstances.
Need Helpful Guidance? Contact Our Knowledgeable Team
Few people ever want their loved ones to have to shoulder the burden of long-term care on their behalf, which is why Medicaid long-term care planning is such an important tool to have in your estate plan. Our knowledgeable team is here to answer all your questions and help you avoid missteps that could end up costing you and your family thousands of dollars in out-of-pocket costs.