Proactive Planning Or Crisis Planning
Peace of Mind. Smooth Process. Reliable Expertise.
When making decisions for your or a loved one's healthcare needs, it can be difficult not to think about how it will impact your finances, especially when the need suddenly arises.
The biggest hurdle - Medicaid requiring you to have countable assets of under $2,000 before they will pay for nursing home care.
Here are two ways we can help so you can focus on what matters most.
With proactive planning, you can:
- move significant assets into a “non-countable” category, protecting your assets from being taken by Medicaid if you require care.
- create a well-structured Medicaid Asset Protection Trust tailored to your and your family's unique circumstances.
- keep your legacy intact and enjoy peace of mind, knowing your loved ones will be taken care of
And in an emergency situation, crisis planning can:
- accelerate Medicaid eligibility and application process
- maximize asset protection with our adept crisis planning.
- have trusted legal counsel handle all communication with the state Medicaid office rather than your family having to deal with it.
Secure Your Future With Confidence
Preserving Wealth, Ensuring Care
Facing the unpredictability of future healthcare needs can be daunting, especially when the risk of exhausting your hard-earned assets for long-term care looms large. Most people spend their lifetime planning for retirement without considering what would happen if they become disabled during their later years. Without proactive planning for asset protection, you could find yourself in a position where your lifetime of savings is being spent on care, leaving little for your family. That’s where we can help.
Our specially crafted Medicaid Asset Protection Trusts serve as a shield, ensuring that Medicaid, not your savings, covers the hefty costs of long-term care, thus preserving your wealth for your family.
You can protect your assets in as quickly as 3-4 weeks with our simple three-step process:
- No-Obligation Consultation
- Life & Legacy Planning Session
- Signing Meeting (happens within 3-4 weeks)
By taking this proactive step, you prevent the distress of seeing your assets drained and enjoy the peace of mind that comes from a well-planned financial path. Take the first step toward a secure and peaceful future, while protecting a lifetime of hard work you’ve built for your family!
Face Crisis With Trusted Counsel
When nursing home care becomes imminent, every month counts.
The sudden need for nursing home care for a loved one, with costs in Tennessee averaging over $7,000 per month, can threaten your family’s financial stability. Our Crisis Planning services are a beacon of hope, designed to expedite Medicaid qualification while ensuring a significant portion of your assets remains protected. Our simple approach provides a clear pathway through the complexities of Medicaid qualification and asset protection:
- Risk-Free Consultation
- Medicaid Strategy Session
- Medicaid Plan Implementation & Application
This structured approach alleviates the financial and emotional distress associated with the high costs of urgent long-term care, ensuring your loved one receives the necessary care without compromising your family’s financial legacy.
With our team of experts, you'll have a trusted partner in navigating through crisis, preserving wealth, and ensuring access to care for your loved one!
Ready for Next Steps?
Ready to secure your family's future with peace of mind? Schedule your free consultation with us, and we'll get to know you and answer any questions you have about the process.
Don't have a plan in place yet? No problem - our team of trusted estate planning attorneys will help you protect your assets and ensure your loved ones are taken care of.
Don't leave anything to chance – take the first step towards a secure tomorrow today. Your family's wellbeing is worth it!
Our Simple 3 Step Process
Connect with our team for a quick 15-min call to learn more about our approach and answer any questions you may have in light of your family’s specific situation.
STRATEGY PLANNING SESSION
We work closely with you to:
- Develop a personalized plan for you and your family
- Enlighten you on how it safeguards your assets from the high costs of long-term care
- Make sure you are well-positioned for Medicaid eligibility.
SIGNING, IMPLEMENTATION & APPLICATION
Together, we will
- Finalize and implement your plan
- Guide you through Medicaid application
- Ensure a significant portion of your assets remains safeguarded
- Leave a lasting legacy your loved ones will be thankful for
FAQ's | Proactive Planning
A MAPT is a type of irrevocable trust designed to protect your assets from being counted for Medicaid eligibility purposes. By transferring assets into a MAPT, you can ensure they are not used to pay for long-term care, thus preserving your wealth for your heirs.
A MAPT protects your assets by legally transferring them into a trust, which then owns the assets. This means they are not counted when determining Medicaid eligibility, helping to ensure Medicaid will cover the cost of long-term care instead of requiring you to spend down your assets.
Setting up a MAPT involves consulting with an elder law attorney to ensure it's the right solution for you, drafting the trust document, transferring assets into the trust, and ensuring all actions comply with federal and state Medicaid laws.
It's advisable to plan at least five years in advance due to Medicaid's look-back period, which can penalize unauthorized asset transfers made within five years of applying for Medicaid.
Yes, a properly structured MAPT can help you meet Medicaid's asset limit requirements by removing countable assets from your ownership.
Common assets placed into a MAPT include real estate, bank accounts, investments, and personal property.
It's advisable to review your MAPT annually or whenever there are significant changes in your financial situation, Medicaid laws, or family circumstances.
FAQ's | Crisis Planning
Contact an elder law attorney immediately for a consultation, understand Medicaid eligibility and crisis planning options, and begin the process of applying for Medicaid and protecting assets.
Crisis planning involves strategies like spousal refusal, promissory notes, or annuities that can help qualify for Medicaid faster while protecting assets.
A Medicaid Strategy Session involves reviewing financial and medical circumstances, understanding Medicaid rules, and devising a plan to accelerate Medicaid eligibility while preserving assets.
The amount of asset protection depends on various factors including the timing of planning, the type of assets, and state laws. Often, a significant portion of assets can be protected even in crisis situations.
The timeframe can vary but acting swiftly is crucial. The process may take several weeks to a few months depending on individual circumstances.
It's never too late for crisis planning. Strategies can still be employed to protect assets and qualify for Medicaid, but the sooner action is taken, the more assets can be protected.
What Our Clients Are Saying
Before or After Planning
Where Experience Meets Service
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