We define a Medicaid crisis as a situation where an individual has entered a nursing home, or will be admitted to one soon, and has been informed that they have too many assets to qualify for Medicaid assistance.
Medicaid Asset Protection Trust
Medicaid Asset Protection Trusts can be a valuable planning strategy to meet Medicaid’s asset limit when an applicant has excess assets. These trusts protect a Medicaid applicant’s assets from being counted for eligibility purposes. This type of trust enables someone who would otherwise be ineligible for Medicaid to become eligible and receive the care they require. Medicaid Asset Protection Trusts also protect assets for one’s children and other relatives.
Ensure The Life & Legacy You’ve Built Is Protected
Since health care costs are the number one reason people file for bankruptcy, the ability to obtain government assistance without having to deplete all your assets before your eligible is very important. Furthermore, the State of Indiana is required by federal and state law to seek recovery from their estate funds equal to the amount used to pay for their medical expenses. However, there are several estate planning strategies for you to obtain government assistance and without having to worry about your assets.
At Politakis Law, we provide our clients with comprehensive estate planning support that’s personalized to suit their specific needs. We know that preparing for the future can be difficult and overwhelming, but when you turn to us, you can rest assured that we will offer professional, knowledgeable guidance to help you reach your goals. Ready to get started? Schedule your virtual or in-person consultation with Politakis Law today for estate planning & elder law assistance in Schererville.