So often long time clients face unforeseen circumstances and can no longer live on their own. However, if a client has to move into an assisted living facility or nursing home, their assets can be quickly depleted paying for these facilities. Luckily, Medicaid is a service that can assist clients with these expenses.
Medicaid examines income and assets in determining if someone qualifies for Medicaid. There are a lot of strategies to use though to qualify someone for Medicaid without depleting all assets. Depending on the situation, the assets, and the health of the person needing Medicaid will determine what strategies are the best to use in any given circumstance.
It’s usually best to plan ahead and get the Medicaid planning process started as soon as possible. The longer time period we have until someone needs Medicaid sometimes means more options are available.
If you have any questions regarding Medicaid planning, please contact our office. We are happy to discuss your options.