Medicaid Planning Attorneys in Brewster, New York
Though the advancement of medical science has allowed people to live longer than ever before, many people are living longer with medical ailments that require expensive treatment. Some elderly people can qualify for Medicaid, which is a government program that pays for certain health expenses. However, to qualify for Medicaid, there are financial criteria that you must meet. With smart financial preparation from the help of a Medicaid Planning attorney, you can protect your assets and qualify for the services that Medicaid provides. If you have questions about how Medicaid Planning may be beneficial for you and your family, contact the experienced team of attorneys at the Law Offices of Andres D. Gil, PLLC today to discuss your situation.
Asset Restructuring to Qualify for Medicaid
Medicaid covers a variety of health expenses for those who qualify, including assisted living facilities, home health aides, and other expenses that often come with aging. Many people wonder how they will qualify for Medicaid after a lifetime of hard work and worry that they will not be eligible. Luckily, there are ways to restructure your assets and protect your hard-earned money that can ultimately allow you to qualify for these benefits. Some of the ways that assets can be restructured to qualify for Medicaid coverage include the following:
- Creating irrevocable trusts
- Transferring the title of your home to your beneficiaries
- Paying off outstanding mortgages and debts, prepaying funeral expenses, and more
Advance Medicaid Planning
What many people do not realize is how important it is to start Medicaid planning years in advance, well before you actually need to utilize this government program. This is essential because the people who conduct Medicaid eligibility determinations will look back at your financial situation for 5 years before you qualify. If you fail to start this process early enough, you can be subject to significant repercussions and fines that can be harmful to your financial situation. It is important to work closely with a Medicaid Planning attorney who can effectively assess your financial situation and guide you accordingly. Your attorney can assist with Medicaid Trusts, Promissory Notes, and Pooled Trusts. With so much on the line, you need a legal team you can count on. The Law Offices of Andres D. Gil, PLLC is ready to assist you.
Contact a New York Medicaid Planning Attorney
If you or a loved one are thinking about the future, be sure to include Medicaid Planning in your thoughts. An experienced Medicaid Planning attorney has a deep understanding of the exemptions, qualifications, and rules that are implemented by Medicaid. With so much to consider, it is important that you do not delay this important part of protecting your future. The legal team at the Law Offices of Andres D. Gil, PLLC has the skill and experience necessary to help you with any Medicaid planning needs. To schedule a consultation with our knowledgeable law firm, contact the Law Offices of Andres D. Gil, PLLC today.