Medicaid Compliant Trusts
One of the most reliable ways to protect your assets and provide for the cost of nursing home care is to create a Medicaid-compliant trust. In many ways this is an invaluable tool for Medicaid planning, allowing earlier qualification for Medicaid benefits. Additionally, the assets placed in a Medicaid trust can provide for needed care more quickly than in other methods of Medicaid planning, all without causing a disqualification from Medicaid benefits. With extensive training and years of experience handling Medicaid issues for our clients, we lawyers can help you determine whether a Medicaid trust is the best approach for your situation and, if appropriate, help you establish a Medicaid trust that meets your needs.
Other Medicaid Techniques
The Medicaid trust is usually only applicable when planned out well in advance. There are many cases, however, in which our clients did not have the opportunity to plan ahead, so short-term solutions are more appropriate. We can help you in a wide range of Medicaid planning matters, including:
- Spend-down planning: Because transferring assets can count against you for the purposes of qualifying for Medicaid, you may need to “spend down” your assets. We can help you with the spend-down planning in a way that will minimize your loss and ensure that you qualify for Medicaid.
- Crisis planning: When a sudden crisis arises that requires you or a loved one to enter a long-term health care facility without adequate preparation time, quick and aggressive intervention is necessary. We can help you get everything in place efficiently to help you qualify for the assistance you need.
- Pre-crisis planning: Whenever possible, we like to work with our clients to financially prepare them as far in advance as possible for crises that could arise. With a thorough, well-conceived estate plan, we will help you be prepared for the unexpected.
We pride ourselves in offering personalized estate planning and Medicaid planning services for our Louisiana clients. We will look at every aspect of your situation to help determine the approach that will work best for you.