Medicaid Planning and Asset Protection


Parents used to be able to count on leaving their hard-earned wealth to their children. However, more and more often, families end up grandfather-and-grandchild-1365226773XdVpaying most or all of their life savings to a nursing home. If the time comes when you or your parents have to avail yourselves of nursing home care, any gifts of cash or property for FIVE YEARS prior to entering the nursing home can cause you to incur serious penalties if you find yourself in need of Medicaid.

However, by utilizing proper estate planning and specialized Medicaid planning techniques, we can protect your savings and allow you to give as much of your money and property as possible to your loved ones, instead of to the nursing home.

  • Putting your home into a trust will protect it from a nursing home.
  • Even if your loved one is already in a nursing home, we can protect your family’s money.
  • We can draft trusts that will allow you to make gifts to your family without worrying about the five year lookback.
  • Trusts avoid probate, which means that your family will be able to access your property immediately, without the expense and delay that occurs with probating an estate.
  • We can custom draft powers of attorney that will allow you protect your assets.
  • You can legally pay your children to take care of you using a custom drafted Personal Care Agreement.

Your existing Last Will and Testament of Powers of Attorney may be useless if you or your loved one has to go into a nursing home. Protect your family estate and make sure it is there for your family.

If you would like to talk about Medicaid planning and asset protection, give us a call today. (256) 713-4383

Recent Blog Posts on Medicaid Planning Topics:

The Value of Using Irrevocable Trusts In Medicaid Planning

THE ABLE ACT: A New Tool for the Special Needs Community

Helping Veterans Pay for Long Term Care


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