Medicaid Planning and Asset Protection

Florida Medicaid Planning and Asset Protection

Statistics show that many people will reside in nursing homes at some time during their life time. This is despite the fact that most, if not all, would prefer to receive care at home if given the choice.

For those who cannot privately pay the nursing home bill, which can easily exceed $7,000 per month, long-term care insurance is a good solution.

Long-term care insurance provides coverage for nursing home care and can also provide coverage for in-home care. However, if a person cannot both afford and qualify for long- term care insurance, it becomes critical to analyze other options that may be available to help pay for long-term care. Some of these include Medicaid, Medicare and Veteran’s Benefits.

Our experienced team of lawyers is able to handle a wide range of government benefit matters including:

  • Nursing Home Medicaid
  • Medicaid Waiver Programs
  • Irrevocable Medicaid Income Only Trusts
  • Medicare
  • Veterans Benefits

Oftentimes, even experienced planners help to protect assets and forget to consider protecting income coming from the sick or disabled person. This is particularly important when dealing with married couples. The resource of recurring income should not be ignored. One of the biggest risks of getting advice from other experts is that they fail to consider how any course of action will impact future decisions and access to other benefits. A common example is from a Veteran Benefits advisor that fails to consider the impact on Medicaid. A Certified Elder Law attorney provides this type of balanced guidance for your decision making.

Contact Osterhout & McKinney, P.A. Today

If you are seeking legal representation or have questions about our services, please call our office at (239) 939-4888 or contact our firm online.

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