Elder Law: Do We Really Need a Medicaid Specialist? | Monroe Township - Middlesex County
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Elder Law: Do We Really Need a Medicaid Specialist?

October 23, 2015

Filed under: Estate Planning — Neel Shah @ 9:15 am

 

When a family member is looking at the need for long term care, it might seem overwhelming because there is so much material to be found about this transition both online and in print. Some of it greatly simplifies the Medicaid process, making it look as though you can easily guide your loved one through qualification.shutterstock_168375044

The reality is that what seems like small mistakes now can end up costing your loved one later in a big way. Attempting to pass on all assets quickly, for example, presents a concern because Medicaid uses a lookback period. This means that your loved one might face penalties if he or she is determined to have tried to circumvent the system in order to qualify for government assistance sooner rather than later.

Medicaid may be a critical component of your loved one’s care, but you need to understand what’s allowed and what’s not. In addition to these basic guidelines, an experienced elder law attorney can give you advice about other strategies that provide the best possible outcome for your loved one. Don’t hesitate to get professional help in these important situations

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