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Protect your Investments & Assets

We all want hope die peacefully at home in our own beds. We think it will never happen to me. But the reality is that nearly 7 out of 10 Americans will spend time in long-term care before we pass away. And the average length of stay in a long-term care facility in Kentucky is 3.8 years. At today’s average cost, that will result in $84,000 a year, or $322,000 per person. And if you are married that number doubles to $644,00. Who can afford that? And if you can, chances are that you would then die broke.

Simplifying The Complex

Medicaid benefits are convoluted and confusing. There are many myths that add to this confusion, which is why it’s best to have an Elder Law Attorney guide you through the maze. One of the key things to remember is that Medicaid, just like Medicare, is a federally guaranteed coverage that you’ve already paid into for the duration of your entire career through your payroll deductions. This is something you’ve earned, not something you are taking from others. The only difference between Medicare and Medicaid is that Medicare is automatic, and Medicaid has criterion that you must reach in order to be eligible. That is what we are here for.

In order to receive Medicaid, there is a cap on your financial assets. If you exceed the maximum, you’ll have to use your own money to pay for long-term care before you can receive the benefits you paid into. If you are thinking, if I have too many assets to qualify, I’ll just start giving money away to loved ones so that I can qualify, please don’t make that mistake. It’s far more complicated than that, and that approach could leave you huge penalties and you would still not qualify. You need someone to guide you through the complex process. We can help you develop strategies that will allow you to keep your money without sacrificing your benefits.

In this area of planning, every aspect of your unique situation MUST be taken into account and impacts every other part of your financial planning strategy. One mistake in this area can cost thousands of dollars and months of time and trouble to repair. Relying on outdated information from the internet or a general practice attorney who do not focus on this area of law can cost you the Farm, literally!

Preparing for the Future

By planning ahead, you can maintain the quality of life you’ve earned without giving up the benefits you deserve. Some of the ways we can help include:
  • Thoroughly explaining Medicaid benefits and requirements
  • Developing a strategy to protect your assets
  • Gathering required documentation
  • Avoiding faulty Spend-down Strategies
  • Bring you peace of mind and certainty about your future
  • Explore long-term care options
  • Dispel Medicaid myths
  • Prepare for unforeseen events that could de-rail future coverage
  • Engaging in both Pre-Planning and Crisis Planning

Of course, the best time to plan for the need for long term care is long before you suspect you’ll need it, but IT IS NEVER TOO LATE TO PLAN. We are here to help at any point. Your initial consultation is free, and you can reach us at 859-684-5333 to start planning today. You can also send us an email.

We are here to make your life, and the lives of your loved ones, easier.