4 Warning Signs You May Need Medicaid Planning Help - Makofsky Valente Law Group, P.C.

In last week’s blog we looked at some common myths about Medicaid. This week we look at warning signs and situations that may indicate you need help with Medicaid planning. Planning is especially important with Medicaid because with proper planning you can avoid having to spend down your life savings. Remember, everyone’s situation is different, and Medicaid rules frequently change.Four situations where you may need help planning for Medicaid…Situation 1: My wife was just diagnosed with Alzheimer’s disease.Unfortunately, Alzheimer’s disease, like Parkinson’s disease and several others, is progressive. This means that the condition will continue to worsen over time. Many people with such diseases end up spending months, or even years, in nursing homes that cost thousands a month. Beginning planning as soon as possible can help manage costs.Situation 2: I have been caring for my parents for the past three years. Now Dad has taken a turn for the worse, and the doctor says he will have to go to a nursing facility. I want to be able to continue to care for Mom at home. Fact: Paying for a nursing facility and home care can be a lot, and many people do not have the financial resources to cover both. Medicaid help for the nursing home spouse becomes essential to allow the home-based spouse to continue to remain at home. If you are actively caring for your mother at home, you may be eligible for payment from Medicaid.Situation 3: I have a developmentally disabled adult child who lives in a group home. I can’t leave her enough to provide her care for very long, but I want to be able to leave her something. It is completely understandable that you want to leave something to your daughter, but it is very important to do it the right way. An outright bequest may cause her to lose all her public benefits. A trust may be a better option. It’s best to plan ahead.Situation 4: My brother was severely injured in a car accident. The other driver was at fault but his insurance limits are $100,000. My brother will need care for the rest of his life.Proceeds from a personal injury settlement can sometimes be directed to a supplemental needs trust that will protect the assets for the long-term benefit of the injured person without disqualifying that person from benefits under Medicaid.Do any of these situations sound familiar to you? Do you have questions about Medicaid and how to plan for it? Would you like to know how best to qualify for Medicaid? We can help. Please give us a call or email us! As knowledgeable Elder Law attorneys, we can provide the legal advice you need to achieve your long term goals.

The information provided herein does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available here are for general informational purposes only.

The owner of this website has made a commitment to accessibility and inclusion, please report any problems that you encounter using the contact form on this website. This site uses the WP ADA Compliance Check plugin to enhance accessibility.