At The Law Offices of Aubrey Harry Ducker, Jr., P.L.C., we encourage our clients to plan as far in advance as possible for estate-related matters. In the area of Medicaid planning, it is critical that you work with an experienced professional about your situation more than three years, and if possible five years, before the time comes that you may need Medicaid.
Advance Planning is Key to Your Medicaid Eligibility
Medicaid is a federal health care program that helps pay for institutional care, usually in a nursing home. You have worked hard your entire life for this benefit. It is important that you plan your estate in such a way that you are able to take advantage of the benefits available for you and your family.
When the government determines eligibility for health benefits, financial workers will examine any transactions or gifts you made in the three years prior to your application. In some cases and for some types of assets, the look-back period will be as long as five years. This is why we recommend that your planning start as early as possible to ensure that any gifts or transactions occur before such time that it could be used to disqualifying you from receiving Medicaid.
Working With You to Develop a Plan Tailored to Meet Your Needs
Since 1999, our Orlando Medicaid planning attorney has worked with families and individuals on the development of estate plans that meet the needs of his clients. As a firm, we know that planning for Medicare does not happen in a vacuum, it requires the consideration of many other factors — both legal and non-legal.
For some people, making decisions about how to manage their estate can create issues your adult children may not understand. Your privacy and confidentiality are of utmost importance, but if you want our help in explaining your situation and plans to family members, we can help. Depending on your wishes, we can either communicate directly with your family members or help you develop a strategy to have what may be a difficult conversation.
Even if you have already taken the time to develop an estate plan, as your family changes and grows, it is important to make sure that your documents are up-to-date and accurately reflect your needs and goals. You should review your plan as soon as possible after major life events such as births, deaths, marriages or divorces occur in your family.
Orange County Asset Protection Attorney
When it comes time to protect your assets, The Law Offices of Aubrey Harry Ducker, Jr., P.L.C., can help. We provide individualized attention and will sit down with you to ensure that you understand all your options.
Many people confuse the rules for gifting and Medicaid planning. The amount that you may be able to gift for tax purposes can have very different implications when it comes to future Medicaid eligibility. We can sit down with you and help you look at all the specific issues in your situation and help you make a plan for the future.
Contact Our Winter Park Estate Planning Law Firm
We take pride in our ability to craft creative solutions for each client's unique situation. Please contact our Orlando, Florida, law firm or call us at 407-901-4745 to schedule a flat-rate consultation with a lawyer. We are happy to meet with you either at our offices or the location of your choice.
