The people working at the care facility to get you registered are not your advocates and have no duty to point out favorable planning options for you.
With nursing home costs in Pennsylvania averaging approximately $10,000 per month, your parents’ assets will be depleted quickly while they are waiting to meeting Medicaid qualifications.
Moreover, if your parents have made any gifts within a five-year period before applying for Medicaid, this can result in penalties and/or the care recipient’s hard-earned savings being drained.
Trying to navigate the Medicaid maze on your own could lead to costly mistakes or missed planning opportunities. This is definitely not a “do-it-yourself” project.
You must consult with an experienced Elder Law attorney who can advise you and your family on how to qualify for Medicaid more quickly so that the care recipient’s spouse and family can keep more of their assets. If you need assistance, Please contact me here
Hiring counsel to advocate for you throughout the Medicaid asset protection process will provide you with peace of mind and likely significant financial savings by reducing the care recipient’s expenditures on home and health care fees.
This may involve the use of trusts, transfer of assets, the purchase of annuities or increased income and resource allowances for health spouses.
The planning options available and the magnitude of the savings will be dependent on a client’s present circumstances and proximity to a move to a care facility.
If you’re thinking about consulting with an experienced Elder Law attorney, don’t delay. Delay could result in hundreds of thousands of dollars being squandered or lost to nursing home care. If you are thinking about buying, selling, refinancing to help set yourself and your family up in the future, please reach out to me as I am here to serve you.
With advanced consultation and planning, you can take advantage of some of the Medicaid planning techniques available to help you and your family preserve assets.
To discuss the possibility of buying a larger house and using it as a board and care, feel free to reach out to me at https://bookme.name/nikiking/lets-talk
