Elder Law | How an Elder Law Attorney protects Your Assets in Medicaid Planning
Elder Law | Seniors face difficult legal challenges when planning for Medicaid. As a senior who uses assets in Medicaid planning, you need to work with an expert in elder care law because the decision will prevent unintended legal consequences, such as loss of property or stiff penalties.
Medicaid has a bad name because there are beneficiaries who abuse the health care program. Some people may deliberately sell or give away their assets to family members so as to qualify for Medicaid. The use of money from the taxpayers to insure your inheritance is a blatant abuse of Medicaid.
What is Medicaid?
Medicaid is a healthcare facility that can pay for nursing services for people with inadequate assets. You may face penalties if you dispose of your assets to pay for Medicaid.
Using Your Assets in Medicaid Planning
Many elderly citizens do not have enough finances to cover the nursing home costs. People may turn to the assets accumulated over many years to pay for the expensive costs at nursing homes. But the plan can utilize your assets quickly.
To protect your assets and avoid stiff penalties for giving away your assets when needing the Medicaid nursing home coverage, an elder law attorney can help in several ways.
- Plan for long-term care Medicaid coverage
- Represent guardians and conservators
- Administer and manage the trusts and estates of seniors
What is Elder Law?
An elder law attorney specializes in the needs of seniors.
- The attorney can help to prevent the impoverishment of spousal and family assets when you enter a nursing home.
- Offer legal representation in Medicare claims and appeals
- Provide advice on social security or disability claims
- Offer legal guidance on disability planning, delegated financial management during mental or physical incapacitation, living trusts, estate management during your lifetime and secure your assets upon death
- Nursing home legal issues, such as the rights of the seniors receiving nursing home care
- Handle the issues of elder abuse and recover the assets the seniors may lose due to fraud
- Protect the seniors from age discrimination in employment and health institutions
