Begin Medicaid planning in Delray Beach with the help of The Millman Law Group.
Medicaid can be an essential tool that helps provide for long-term medical care. However, Medicaid often requires that people age 65 and older meet certain strict eligibility criteria. These eligibility rules can be complex and differ between regions in a single state and change depending on a person’s health. Medicaid planning is highly beneficial for individuals and spouses who may not initially qualify for Medicaid because their income or assets levels are deemed too high. The Millman Law Group is ready to assist in Medicaid planning in Delray Beach to ensure that everyone can benefit from the care that can come with Medicaid. The Millman Law Group was established in 2018 by Aaron D. Millman, Esq., CPA, to provide patient and expert services to our clients. If you believe you can benefit from Medicaid planning, contact The Millman Law Group to discover how we can help.
When To Work With The Millman Law Group
There are certain situations where working with a lawyer for Medicaid planning is best. Three standard examples include:
- If only one spouse requires care, but their partner plans to leave the family home. At least one spouse must remain in a home, or the home must meet specific equity limits to stay protected.
- If both spouses require care. Without proper planning, this situation can bankrupt a family.
- If an elder is looking to preserve specific assets for their heirs. It is best to begin Medicaid planning when this person is healthy because it allows them to consider multiple solutions.
If you are not sure whether you qualify for Medicaid, contact the experts at The Millman Law Group to discuss your options.
How Medicaid Planning Can Protect Your Assets
Medicaid has limits on income and assets that must be met for acceptance to the program. Depending on your finances, you may be forced to liquidate your assets before you can qualify for Medicaid and receive their services. When you utilize Medicaid planning in Delray Beach, you can minimize the possibility of liquidation or avoid it altogether. Your Medicaid planner will:
- Create trusts
- Handle asset transfers
- Manage finances
- Protect family homes
- Convert income-producing assets into exempt assets
These actions will protect your family’s resources while helping you meet all necessary eligibility requirements.
Get an Early Start to Medicaid Planning
It is best to start planning for long-term care when you’re healthy and have the time to spare. The Medicaid application process can be time-consuming, and in Florida, it can take 30 to 60 days to process a Medicaid application. This is before you consider the time it may take for a person to receive their spot in the Medicaid program. This can be a tight deadline to meet if you urgently need Medicaid assistance.
Putting a plan in place with a knowledgeable estate planning attorney can help you qualify for Medicaid when the time comes. If you don’t have long-term care insurance in place, Medicaid planning in Delray Beach can help you prepare for a secure future.
Contact The Millman Law Group For Medicaid Planning in Delray Beach
Millman Law Group, PLLC is one of the only law firms that offers life planning in South Florida. From life care planning to the preparation of detailed estate plans, Millman Law Group has committed to serving Floridian elderly communities in Boca Raton, Palm Beach County, Ocean Ridge, Hillsboro Beach, and many other areas since 2018. Our dedicated team specializes in special needs trusts and catering to any age demographic because we know that it’s never too early to start preparing for your future. For the latest news in estate planning and elder care law, follow us on Facebook, Twitter, LinkedIn, and Pinterest. You can also contact us at 561-463-6480.