Positioning Your Assets to Qualify for Medicaid
Smith & Mabley: Michigan Medicaid Planning Attorneys
While you may have spent a lifetime earning money and accumulating assets, nursing home expenses can quickly deplete them. Medicaid benefits can take care of the cost of nursing home care, but you need to take careful steps to position your assets to qualify for benefits.
At Smith & Mabley, we help our clients establish Medicaid planning to ensure that your spouse and children will have the benefit of as many of your hard-earned assets as possible in the event you require nursing home care. This process follows existing law and regulations and is completely legal. By planning ahead, you can provide for your spouse and heirs.
For proactive Medicaid qualification planning, contact one of our Medicaid planning attorneys at our offices in Farmington Hill, Michigan by calling us at 866-975-9915 or sending us an e-mail.
Planning Should Begin as Soon as Possible
As soon as it appears that nursing home care may be needed in the future, planning for Medicaid qualification should be started to protect your assets and property. If possible, planning should begin before hospitalization is needed. Our experienced attorneys help our clients set up specialized trusts and take other actions to increase exemptions and allowances available under the Medicaid law and regulations.
Security For Your Spouse
At Smith & Mabley, we assist our clients position assets so that they are available for the needs of the spouse of a person who requires nursing home care, and do not have to be "spent down" paying for the cost of care. Our attorneys can advise you on the use of a spousal annuity trust to protect assets, in addition to the protection afforded by the Medicaid spousal allowance.
Please note that Medicaid law and regulations are constantly changing. We can counsel you on what planning opportunities are available under the current rules and your particular situation.
Additional information on this topic will be found on our Resource Page.
Contact Us
For more information or to schedule an appointment with one of our experienced Medicaid planning lawyers, please contact us online or call us toll free at 866-975-9915.
