Why Planning For Medicaid Is Critical
Many adults wait too long to prepare for their future. Unfortunately, when the time comes for them or their family members to access critical healthcare, these adults might discover that they missed their opportunity.
At Gieg Law Offices LLC, we recognize the importance of thinking ahead to protect your health and quality of life. With extensive elder law experience and knowledge of estate planning, our lawyers can help you incorporate Medicaid into your overall plan.
Medical Expenses Can Drain A Family’s Resources
In Pennsylvania and throughout the country, the costs of healthcare are notoriously unaffordable – especially in old age or with a disability. Nursing home care and other long-term care are expensive. Sadly, many families lose everything they have worked hard to earn in the process.
Our attorneys use proven strategies to protect families’ assets from the costs of essential care. We begin years in advance of Medicaid application to secure our clients’ money and property. Our proactive approach allows us to anticipate medical expenses and find solutions.
Sophisticated Medicaid Planning Methods
There are many customizable – and legal – ways to plan for future medical costs and Medicaid eligibility, such as:
- Forming specific irrevocable trusts to protect assets from creditors and lower your personal asset value
- Maximizing exemptions to fall within the eligibility limit
- Restructuring finances between spouses to enable one spouse to qualify for long-term facility care assistance
- Completing strategic, timely asset transfers or carefully spending down
Medicaid requirements are highly complex, and these methods can backfire without professional guidance. One combination of methods will not suit everyone. We use our creativity and attention to detail to find cost-effective solutions for our clients. Protect your retirement savings, your children’s inheritance and your livelihood with our committed attorneys.
Learn About Your Options
It is never too early to prepare for the possibilities of life. For three generations, Gieg Law Offices LLC has proudly stood beside our clients in Altoona. Reach out to us through email or by calling 814-204-1274 for a free consultation.