Long-Term Care & Medicaid
Some of our clients are concerned about preserving assets for a loved one and qualifying for government benefits to pay for their long-term care.
In addition to qualifying medically, qualifying for Medicaid comes down to two financial issues: Resource (Asset) Qualification and Income Qualification.
We have tools to address both of these issues, and we can help you protect the maximum amount of your assets and income for you and your loved ones even though you may need to qualify for Medicaid benefits to pay for your care.
The most common tools used to reach these goals are trusts. If your income is too great to qualify for benefits, we can help you prepare an Income Cap Trust to allow you to qualify for benefits!
If you wish to protect your assets, we apply a range of strategies and tools to help you build a secure future, including:
Family Protection & Special Needs Trusts
Long-term care planning is not intended as a way to circumvent laws, but to prevent the loss of home, property, and key assets in the wake of a major healthcare event.
Addressing your concerns before you are in immediate need of long-term care is an important step, particularly with the passage of the Deficit Reduction Act, which requires that the State government review five years of your asset protection strategies to determine qualifications.
Whether you are in need of future or immediate need of long-term care planning, Alex Kincaid Law will work with you to help you reach your goals.