Medicaid is a valuable resource that can help you obtain long-term medical treatment. However, Medicaid has rigorous qualifying standards for anyone over the age of 65. These requirements are usually complicated and differ depending on where you live and the specifics of your health. Because of these difficulties, Medicaid planning is used to help individuals and their spouses who may not yet qualify for Medicaid due to their assets or income. The Millman Law Group has the skill and experience to help you with Medicaid planning in Hillsboro Beach, FL. Aaron D. Millman, Esq., CPA, founded The Millman Law Group to provide dedicated service to clients eager to plan for the future. Contact The Millman Law Group now if you are ready for skilled Medicaid planning with your experienced lawyer.
When Should You Start Medicaid Planning with The Millman Law Group?
We recommend that individuals begin Medicaid planning with their attorney if they fall into one of the following categories:
- When an older adult saves their assets for the benefit of their heirs, begin Medicaid planning while the older adult is still well so you have time to weigh your alternatives.
- When both couples need medical help, arranging for care without appropriate planning might bankrupt a family.
- One spouse needs care, while the other chooses to leave the family home. To be protected, either one spouse must live in the house, or the property must meet certain equity standards.
If you are unclear if you qualify for Medicaid, call The Millman Law Group to explore your options.
Protect Your Assets with Medicaid Planning
Medicaid places a cap on someone’s income and assets, which must be met before acceptance to the program. Depending on your financial situation, you may be required to liquidate assets before being eligible for Medicaid and accessing its services. You may decrease or eliminate the danger of liquidation by using Medicaid planning in Hillsboro Beach. Your lawyer can help you with this by:
- Managing finances
- Creating trusts
- Protecting family homes
- Handling asset transfers
- Converting income-producing assets into exempt assets
These procedures can help you protect your assets while meeting strict Medicaid eligibility standards.
Start Successful Medicaid Planning as Soon as Possible
It is best to start planning for your long-term care as soon as possible. If you start preparing while you are still well, you will have significantly more time to prepare for any unanticipated illnesses or accidents in the future. In Florida, the Medicaid application is lengthy and may take up to 60 days to complete. After that, a person’s placement in the program might take even longer. If you plan to get Medicaid assistance soon, you may be required to work within a specific time limit.
If you can trust your experienced estate planning attorney, you are more likely to qualify for Medicaid. If you do not have long-term care insurance, Medicaid planning with a Hillsboro Beach lawyer can help you build a secure future.
Contact The Millman Law Group For Medicaid Planning in Hillsboro Beach
Millman Law Group, PLLC is one of the only law firms that offers life planning in South Florida. From life care planning to the preparation of detailed estate plans, Millman Law Group has committed to serving Floridian elderly communities in Boca Raton, Palm Beach County, Ocean Ridge, Hillsboro Beach, and many other areas since 2018. Our dedicated team specializes in special needs trusts and catering to any age demographic because we know that it’s never too early to start preparing for your future. For the latest news in estate planning and elder care law, follow us on Facebook, Twitter, LinkedIn, and Pinterest. You can also contact us at 561-463-6480.