Why Do I Need An Attorney to Assist Me in Medicaid Planning?

There are all sorts of issues that can arise during Medicaid planning in a nursing home situation, and they require the attention of a Medicaid or elder law attorney who has been through the process before. The elder law attorney is essentially a professional caregiver whose expertise is in all matters concerning the financial aspects of being a caregiver.

The elder law attorney would have skills in recognizing public benefit qualifications and in dealing with beneficiaries or family members. The elder law attorney would also have experience in dealing with government entities that can create problems in qualification, financial companies that will not honor properly drafted legal documents, and with powers of attorneys and trusts in dealing with complicated assets, such as IRAs and tax issues. The alternative to not doing it right is not qualifying for Medicaid and having to pay nursing home bills at a rate of $8,000 to $9,000 per month. Alternatively, a lien could be put on your property, which would have to be paid from your assets upon your death.

Elder law attorneys typically have a higher level of accountability and integrity than non-attorneys who do this. As an elder law attorney, I spent three years in law school and graduated out of the bar. Non-attorneys who assist with Medicaid applications usually just have a GED. So, the ethics of providing poly service is much higher. You should hire an attorney, even if you have found someone who has helped with Medicaid applications.

I have very competent people working at my office, and even they would require my assistance if they were doing this for their father or mother. It is important to make sure that there is nothing missing and that the qualification will go through smoothly. Furthermore, elder law attorneys have experience in dealing with the medical systems and the nursing homes, which allows them to make sure that all of your loved one’s rights and needs are met.

You should look for a board-certified elder law attorney to help you with Medicaid planning in the state of Florida. There are currently 103 board-certified elder law attorneys in Florida out of a potential 70,000 attorneys in the whole state. In my office, there are two board-certified attorneys. As board-certified elder law attorneys, we will see five to 10 people in our client’s exact position each and every month. We have the experience to deal with different situations where there are different types of assets and different types of family situations that need special, unique attention and custom advice.

Can Medicaid Take My House Even If It’s Jointly Owned?

In the state of Florida, Medicaid cannot take your home as long as it is your primary residence or homestead. The Florida homestead rules are pretty strong in the state of Florida to protect your house against creditors, even upon your passing. I advise that you have your house situation reviewed by an elder law attorney to make sure that there are no traps that you could fall into as it relates to the home and preserving the home from Medicaid recovery.

Are IRAs Countable Assets For Medicaid?

In Florida, IRAs are not countable assets for Medicaid as long as they are in distribution or payout status. In other states, IRAs can be countable assets.

What Can Be Some Other Ways To Protect My Assets?

In the world of protecting assets from complete nursing home spin down, there are two basic types of cases from the elder law attorney’s perspective. There are pre-planning cases, which could be defined as cases in which there is not a current need for Medicaid benefits to help pay for the cost of care. There are also crisis Medicaid planning cases, which involve someone who is in a nursing home and is about to face large nursing home bills. If there is not an imminent need to pay for nursing home care, then you should look for advanced planning with an irrevocable trust, such as the special needs trust or the irrevocable income-only trust.

For more information on Elder Law Attorneys For Medicaid Planning, an initial consultation is your next best step. Get the information and legal answers you’re seeking by calling (904) 398-6100 today.

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