Medicaid Planning For Elder Law In Springfield, Oregon
Medicaid can provide valuable benefits, but it’s important to know what steps to take in advance to plan for this and maximize those benefits. Planning may include preparing documents, considering financial eligibility limits and taking steps related to estate planning, such as setting up trusts and transferring assets.
Here at Leahy Cox, LLP, our experienced team of attorneys has been serving Springfield, Oregon, since 1949. This extensive experience means we are well-prepared to help people plan for their future, including Medicaid planning. To get the process underway with a trusted and dedicated Medicaid planning lawyer, just give us a call today to set up your consultation.
Importance Of Medicaid Planning
Medicaid planning is a key part of financial protection for seniors. It helps them access the benefits they may need moving forward, offering greater security at this stage of life.
It’s very important to consider both eligibility and asset limits. Those who have a high income or a high level of assets may not be eligible. In such cases, they would be required to spend those assets in advance. However, there are other strategies they may want to consider – such as transferring assets into an irrevocable trust for their descendants or beneficiaries. This can help preserve family wealth while still qualifying for Medicaid.
How Elder Law Attorneys Assist With Medicaid Planning
Our team of elder law attorneys can assist with every stage of this process. We can:
- Explain income and asset eligibility limits
- Review your financial documents
- Help prepare benefit applications
- Recommend long-term care and asset protection strategies
- Assist with trust creation, gifting and other planning tools
It’s important not to wait until the last minute. Taking the time to plan carefully in advance can make a significant difference when you need these benefits the most.
When Should You Start Planning For Medicaid?
Ideally, you should begin Medicaid planning as soon as possible. If you’re already creating an estate plan, you’re likely thinking about the future – and that’s the perfect time to include Medicaid planning. You may want to consider medical needs, long-term care, nursing home expenses, assisted living costs and more. Our team is ready to help you begin building a plan that keeps your future secure.
Call Now For A Consultation
Are you interested in learning more about the steps you’ll need to take and the benefits you may qualify for? If so, use the online contact form or dial 541-357-9903 now to schedule your initial consultation.
