What is Medicaid Planning?
Medicaid Planning is any assistance that is provided to a potential Medicaid applicant in order to ensure their Medicaid eligibility and avoid any claims or incompliances with Medicaid rules and regulations. It is a way to manage your assets in a manner aimed at helping you meet Medicaid eligibility guidelines. It is generally recommended for people whose assets are near, or over the financial requirements of Medicaid’s eligibility criteria.
What Are The Benefits Of Medicaid Planning in New York?
Long-Term Health care can be expensive and residents of a nursing home can exhaust their life time savings very quickly. To avoid such burden there is Medicaid Planning. In general, Medicaid Planning helps you create ways of making your assets and income inaccessible.
Another two goals that can be accomplished by doing timely Medicaid Planning is to preserve assets for your loved ones and provide for your healthy spouse (if you’re married).
There are several strategies developed by the attorneys over the years to rearrange ones finances and legally shelter assets from the state. Medicaid Planning, if done by professionals, is completely ethical and wildly used across the nation by people who are looking to maintain their accustomed lifestyle and protect their loved ones and family assets even after they are no longer able to do it themselves.