Medicaid Planning


Medicaid planning involves a broad understanding of aging and the law, along with the practicalities of growing older and how that impacts seniors and their families. The earlier a family analyzes their financial and legal situation, the greater likelihood that a properly designed asset protection plan can preserve assets.  Medicaid planning considers all the steps needed to protect assets from being consumed by long-term care expenses.  Federal and State law provide many Medicaid asset protection planning tools. Some of the tools used in planning include:

• Durable Powers of Attorney
• Health Care Directives
• Special Needs Trusts
Qualified Income Trusts
Personal Service Contracts
• Trusts
• Wills
• Immediate annuities
• Rental property
Long term care insurance

It is imperative to plan for the cost of long-term care through an understanding of the Medicaid program, long-term care insurance and private payment.  Medicaid planning is technical and often complex and each client's circumstances require individual analysis.

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