Medicaid And Asset Retainment Planning
Many seniors need medical assistance but do not want to deplete every last financial resource they have. At Brothers & Henderson, P.S., we understand your concerns and goal. We are here to guide you to the best path to preserve your assets while obtaining the government support you need and deserve.
How We Can Help
Navigating the Medicaid application process can be overwhelming. We offer experienced counsel and help you develop effective strategies to get the health care financial support you need. We assist with Medicaid applications, can attend hearings and will file an appeal should one be necessary. We can walk you through how best to preserve your assets now and in the years to come.
As seasoned estate planning and elder law attorneys, we can assist with:
- Gifting money to family
- Identifying exempt assets
- Creating special needs, testamentary or irrevocable trusts
- Putting your home in a trust with your adult child as trustee
- Purchasing an annuity
- Modifying an existing trust
We will take the time to walk you through your options and explain why one option may be the better choice given your situation and goals. We take a holistic approach and view the whole estate plan picture.
Where Can Medicaid Funds Be Used?
Many people plan for Medicaid eligibility when their health care expenses outstrip their income and existing financial resources. There are multiple places in Washington where you can use Medicaid funds including for home health care, in an assisted living or nursing home facility or in a memory care unit. Medicaid funds are not sent to individuals but to the health care provider.
Will I Need To Get Divorced To Get Benefits?
Many people are worried that they will need to get a divorce to protect their assets if one partner needs nursing home care, but that is seldom necessary. While not unheard of, a divorce from your spouse to preserve assets should not be your first, second or even third option. There are many strategies that can be employed, depending on what your assets are and what your goals are. The legal strategy needs to be implemented carefully, however. Our team of experienced Medicaid attorneys can help you understand the best option for you.
Understand Your Options Before Moving Forward
We offer personalized, one-on-one consultations so that you can get all your questions answered and understand what to do next. Call 206-536-2446 or send us an email with your contact information to the firm and we will be in touch with you. Serving clients throughout Seattle.