What is Medicaid Planning?

Medicaid Planning is a service provided to clients who wish to receive Medicaid in the future. People generally pursue Medicaid planning for the sole reason of not being able to cover their medical costs with their assets alone and because Medicaid is the only insurance which will pay for home care aid and for nursing home costs.
Most people begin Medicaid planning well before their retirement as ownership of certain assets will make one ineligible for Medicaid. Correct Medicaid planning should be done at least 5 years in advance, as transferring assets in less than 5 years before applying to Medicaid may result in a penalty or make one ineligible
Long term care is EXTREMELY costly, and many families cannot afford to give the care their loved ones need because they haven’t planned ahead. Don’t wait too long as many people end up kicking themselves for putting this seemingly unimportant task to the side. An elder law attorney is your best choice when planning ahead for Medicaid eligibility.
Contact the Law Office of Inna Fershteyn & Associates, P.C.
right away by calling (718) 333-2394
by visiting us online at www.BrooklynTrustandWill.com