Practical Planning is dealing with tomorrow, today and avoiding crisis
Practical planning will allow a person to qualify for Medicaid and still keep assets and income for their spouse and heirs. This requires a long term plan, as much as five years in some instances, as well as a good deal of patience, but it can save you tens of thousands of dollars when it comes to getting the care you will need in your elder years.
If a couple has $750,000 in investments and a house with $300,000 in equity, most people believe they could not possibly qualify for Medicaid. This is simply not true. Medicaid establishes maximum levels of countable assets and income—the important word being, “countable.” By skillfully using specialty trusts that are authorized by Medicaid, we can make your income or assets uncountable by Medicaid and qualify you to have the government pay for long term care and still keep your investments. This type of planning requires an immediate start so at a later date the qualification process goes smoothly.
Let’s get together and sit down to fully discuss your needs, options, and desires. Contact us today and set up a free consultation.