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

Helpful Links

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E-mail:
Staff@Howell-Law-Firm.com