Medicaid Planning Assistance for the Elderly streamlines the asset protection process for individuals and their families who are looking to protect their hard-earned money while qualifying the individual for Medicaid benefits.
Medicaid Planning Assistance for the Elderly Can Simplify the Medicaid Planning Process:
There are strict qualification criteria that must be met in order to qualify for Medicaid. The specifics of the criteria have been detailed in numerous previous articles. An expert in Medicaid Planning Assistance for the Elderly will help you understand the eligibility details. In general, individuals and couples that exceed the countable asset and monthly income limit do not qualify for Medicaid. “Countable assets” means assets that count toward the eligibility limit. “Non-countable assets” are assets that do not count toward the eligibility limit. However, with Medicaid Planning Assistance for the Elderly, you can still qualify even if the limits are exceeded. It is a misconception that an applicant must be destitute to qualify for Medicaid benefits for long-term care.
The focus of Medicaid Planning Assistance for the Elderly is to employ protection strategies to bring the countable asset amount and monthly income amount below the limit in order to achieve eligibility. An incredible but almost entirely unutilized approach to protecting excess countable assets is an intra-family real estate transaction. The reason it is not commonly used by Medicaid Planning Assistance for the Elderly attorneys is that it is an almost entirely unknown protection strategy. Some of the key benefits are that it can help protect large sums of money with relative ease, all while keeping the assets within the family. There are a variety of other protection strategies that a Medicaid Planning Assistance for the Elderly attorney may use as well.
The most common way that a Medicaid Planning Assistance for the Elderly attorney may protect excess income is by utilizing a Qualified Income Trust. The funds deposited into this trust can still be used for the patient’s healthcare costs, it simply artificially lowers the income to within the acceptable limit.
Another misconception is that a Medicaid Planning Assistance for the Elderly attorney hides excess countable assets or income. This is not the case. Every step of the protection process should be written out and submitted to The Department of Children and Families at the time of application to show that the steps taken are fully compliant with DCF’s rules. You can rest assured that it is completely legal and compliant with Medicaid rules.
Over To You:
Platinum Benefit Services has been helping our clients obtain Medicaid approvals for over 27 years, with the aid of Medicaid Planning Assistance for the Elderly attorneys. We handle the administrative nightmare of the application and document gathering process while Medicaid Planning Assistance for the Elderly attorneys complete the essential legal documents to protect assets and income. If you want to take the first step in securing you or your loved one’s future, call Platinum Benefit Services today and become one of our over 14,000 success stories.
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