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Medicaid Planning Process For Eligibility
Do you or your loved one need immediate assistance with care? The cost of continuous long-term care can be financially devastating to families. The good news is… you have options with the right Medicaid planning process for eligibility.
Medicaid provides coverage to qualifying adults for long-term care. This coverage may allow you to receive care at home, in an assisted living facility, or a skilled nursing facility and preserve your assets as a legacy for your family.
The first step is consulting with an experienced elder law attorney to determine which program is right for you. Then, we will create a custom estate plan which is specific to your individual needs. Estate plans generally include advance directives (i.e. Power of Attorney, Health Care Proxy, Living Will) and one or multiple living trusts. A deed transfer of your primary residence to a family member or a trust may also be necessary to protect and preserve the asset. The plan is formulated to conform with Medicaid’s strict eligibility rules. Once the documents are signed and the assets transferred, the next step is applying for benefits.
The Medicaid application process itself is complex and can be overwhelming. The criteria mandates proof of the applicant’s identity, citizenship, or legal resident status. In addition, you will need to supply banking statements for all assets. Depending on the program you are applying for, you may need to produce statements for every account owned for up to 60 months. Needless to say- there are a lot of documents! However, the paperwork should not be a deterrent. An approved Medicaid application, coverage to provide adequate care to your loved one, and asset preservation are rewarding results.
If you or your loved one is in need of immediate care, or if you want to plan in advance of a catastrophic illness, please call us. Our law firm has decades of experience in handling the most complex cases and we are here to assist you in navigating the Medicaid planning process for eligibility. Please call our office today to schedule your consultation.
This Post Has 2 Comments
i gave a care provider, a friend, over $1,000 to heip me (i live with my sister) Do I have send her a w2?
Thanks for reaching out to us.
You may have to issue a W2 or a 1099 – depending upon the situation.
You will need to get proper legal advice as to addressing your situation.
If interested in our law firm advising you, please contact our office at 516-683-1717.
Please note this reply is informational only and not legal advice. You should seek the services of an attorney for legal advice.
Vincent J. Russo