Providing Medicaid Planning That Will Help Protect Your Assets
One of the most difficult times a person will face is the placement of a loved one in a nursing home. This is often not only an emotional hurdle, but a financial one as well. Many people work hard and save for their retirement for years, only to deplete their savings paying for their long-term care or the care of a loved one.
Too often people do not fully understand the complicated rules of Medicaid, and they rely too heavily on advice from family and friends. Although well-intended, this misinformation can lead to the denial of benefits or penalties that could end up costing you your life’s savings. Livens & Reed, PLLC provides competent guidance and planning so these pitfalls can be avoided, assuring eligibility and alleviating financial stress. Working with an experienced Austin and Dallas Medicaid lawyer can help you avoid giving away your assets too early, ignoring important safe harbors created by Congress, or applying too early or too late.
Effective Long-Term Care Financing
A lack of understanding about Medicaid and long-term care insurance can ruin a person’s finances. Custodial care is not covered by Medicare, and the average cost of long-term care in a nursing home is $48,000 annually. When individuals contact our firm, we can help them understand the most effective ways to pay for care, and we advise them about the common mistakes people make with Medicaid qualifications.
Contact An Experienced Elder Law Attorney
It is never too early or too late to make effective plans for Medicaid benefits. Whether your loved one has already moved to a nursing home, or if you don’t anticipate going for years, we can help you take the important steps to minimize the risks, maximize the savings and protect your assets. Learn more about the options you have available by contacting us to schedule your free initial consultation. We can be reached online or by calling 800-569-2663.