What is Medicaid Planning?
When it comes to paying for nursing home care, most people don't know that Medicaid planning is an option. Unfortunately, most people end up paying for long-term care out of their savings, finally qualifying for Medicaid once their money runs out. However, with the proper Medicaid planning, we can help protect your savings while still qualifying for Medicaid assistance.
Planning in advance is by far the best way to protect what's yours. But if you find yourself in need of immediate nursing home care, it's never too late to put a plan in place to protect your property and life savings.
Giving general rules for Medicaid planning is difficult because every client's case is different. The rules of Medicaid eligibility are complicated. They're different for those who are married and those who are single. Some have family support, others do not. Some have homes, others rent. Some have more income or assets than others. That's why our elder law attorneys work with you tailor a specific strategy to fit your needs and circumstance.
Elder law attorneys use a number of tools in Medicaid planning, such as creating special trusts to protect your savings while still qualifying you to receive Medicaid assistance to pay for nursing home costs. To discuss a plan that can work for you to protect your home and life savings from the costs of nursing home care, we encourage you to take advantage of our consultation for inquiries within the state of Virginia.