Medicaid is a valuable resource that can help you obtain the long-term medical care you require. Medicaid, however, has stringent requirements for individuals aged 65 and over. These standards are frequently complex and vary based on where you reside and your health status. Because of these complexities, Medicaid planning can help individuals and their spouses who may not qualify for Medicaid because their assets or income are judged too high. The Millman Law Group has the expertise and experience to assist you with your Medicaid planning in Deerfield Beach. The Millman Law Group was formed by Aaron D. Millman, Esq., CPA, to give excellent care to clients ready to prepare for their future. If you are interested in expert Medicaid planning, contact The Millman Law Group today. 

When to Begin Medicaid Planning with The Millman Law Group

We strongly advise you to begin Medicaid planning with your attorney if you find yourself in a few situations:

• When an older individual is saving their assets for the benefit of their heirs. Begin Medicaid planning when the older adult is still well so you have time to evaluate several options. 
• When both couples require assistance. Arranging for care without proper forethought might bankrupt a family. 
• When one spouse needs care but their partner wishes to leave the family home. To be protected, one spouse must live in the house, or the property must fulfill particular equity requirements.

If you are unsure if you are eligible for Medicaid, please call The Millman Law Group to discuss your options. 

Preserve Your Assets with Medicaid Planning

Medicaid imposes a restriction on someone’s income and assets, which must be satisfied before admission. Depending on your financial circumstances, you may have to sell assets before qualifying for Medicaid and using its services. When you employ Medicaid planning in Deerfield Beach, you may reduce or eliminate the possibility of liquidation. Your attorney can assist you with this by: 

• Creating trusts
• Managing finances
• Handling asset transfers
• Protecting family homes
• Converting income-producing assets into exempt assets 

These steps can preserve your assets while also helping you meet tight Medicaid eligibility requirements. 

Successful Medicaid Planning Starts Early 

It is advisable to begin making arrangements for your long-term care as soon as possible. If you start preparing while you are still well, you will have far more time to prepare for any unforeseen illnesses or accidents in the future. In Florida, the Medicaid application is extensive and might take up to 60 days to finish. Following that, a person’s placement in the program may take even longer. If you expect to obtain Medicaid services soon, you may have to work within a strict time frame. 

You are more likely to fulfill Medicaid eligibility if you trust your professional estate planning attorney. If you do not have long-term care insurance, Medicaid planning with your Deerfield Beach attorney can help you construct a secure future. 

Contact The Millman Law Group For Medicaid Planning in Deerfield 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.