Sucess Story: Protecting a Family Legacy

Plan for Peace of Mind: Alatsas Law Firm's Personalized Long-Term Care Solutions

Planning for long-term care isn’t just about future medical needs—it’s about protecting the life you’ve built and the family you love. At Alatsas Law Firm, we’ve guided families through these important decisions for nearly 30 years, helping them face tomorrow with confidence. Your trust means everything to us, and we’re committed to looking out for you with kindness, respect, and expert guidance. Worried about the cost of care depleting your life savings? Concerned about maintaining dignity and independence as you age? We promise to stand beside you, creating a personalized plan that addresses your unique needs and wishes. Schedule your free, no-obligation consultation today, and take the first step toward securing your future care with dignity and financial protection. We’re here to listen to your concerns and create a long-term care plan that truly reflects your values while preserving what you’ve worked so hard to build.

Frequently Asked Questions

What is Medicaid Planning?

Medicaid planning involves arranging your financial affairs to qualify for Medicaid benefits, which can cover long-term care costs such as nursing home care. This process includes asset protection strategies to ensure eligibility while preserving your wealth for your heirs.

Why is Medicaid planning important?

Medicaid planning is crucial because long-term care can be extremely expensive, and many people are not preared to cover these costs out-of-pocket. Proper planning can help you qualify for Medicaid without depleting your life savings, ensuring financial security for you and your family.

When should I start Medicaid planning?

It's advisable to start Medicaid planning as early as possible, ideally at least five years before you anticipate needing long-term care. This is because Medicaid has a five-year "look back" period during which any asset transfers may be scrutinized and could affect your eligibility.

What are some common strategies used in Medicaid planning?

Common Medicaid planning strategies include:

Establishing irrevocable trusts to protect assets
Transferring assets to family members or trusts well in advance of needing care
Converting countable assets into exempt assets, such as purchasing a more valuable home or prepaying funeral expenses
Utilizing annuities or promissory notes to convert assets into income streams

Can I keep my home if I apply for Medicaid?

Yes, in many cases, your primary residence is considered an exempt asset and does not count towards Medicaid's asset limits, provided its equity value is within certain limits. However, Medicaid may place a lien on the home to recover costs after your death, so it's important to plan accordingly.

Protecting a Family's Legacy

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Plan for Peace of Mind: Alatsas Law Firm's Personalized Long-Term Care Solutions

Frequently Asked Questions