It is never too late to start planning for the worst. Even if you or your elderly loved one is already in an assisted care facility, you can still work to protect their remaining assets.With the proper planning and the right elder law attorney, there are lots of ways that you can protect your assets and qualify for Medicaid to help pay the incredibly high costs of assisted living or nursing home care.
Understanding the Look Back and Penalty Periods
One of the most difficult parts of applying for Medicaid is understanding the complexities of the look back and penalty periods.
Essentially, these two terms are why most people fail to qualify for Medicaid. They are also the two main things that Stano Law Group can help you with if you need assistance in estate planning.
Having someone on your side that can explain the right way to protect your assets, so that you can avoid the penalty and look back periods, will ensure that you are able to qualify for Medicaid when you apply.
A Denial Isn’t the End
Just because you have been denied Medicaid benefits after you apply does not mean that you can never qualify. In many cases, the decision can be reversed. The right attorney can help you understand the Medicaid law and the denial reversal process, as well as the right strategies for your reversal hearing.
Trying to navigate the Medicaid system and laws on your own is very difficult and will most likely lead to a less than favorable result. An elder law attorney is the best person to have on your side through the process.
Every Situation is Unique and Every State is Different
Many of the programs that assist the elderly with living care costs are run at the state level. This is different than Medicare, which is a federal program. It means that the laws can differ greatly depending on what state you live in.
Along with this, every situation is different. What you or your elderly loved one is facing is likely unique to your family’s financial position. This can also make navigating the Medicaid system very difficult. Rules are worded to include everyone, and you need the help of an expert to understand how they directly apply to your unique set of circumstances.
Don’t Drain Away Your Assets by Waiting Any Longer
What is the alternative? You can’t allow all of your or your elderly loved ones’ assets to be completely depleted by costs that could have been covered by Medicaid. This can be even more worrisome if there is a spouse or partner that relies on those assets to live as well.
Contacting your elder law attorney today can help to protect your assets and ensure that you are getting the Medicaid coverage you need.
Stano Law Group are Elder Law Attorneys that Can Help
Do you need help with your estate planning? Contact Stano Law Group today.