Maybe your health is declining or you’ve had a recent “close call.” Or maybe you’re healthy but are concerned about your family’s history with Alzheimer’s or other illnesses. If you’ve seen others have their assets wiped out paying for assisted living or nursing home care, you are probably worried about who will care for you and how you’ll pay for that care in your later years. Fortunately, the Quraishi Law Firm is here to assist you with your health care planning for the future!
We offer comprehensive Medicaid planning for residents of Arkansas and Tennessee. With our team of experienced attorneys, we can draft health care plans for clients who want to have secure health and medical care in later stages of life. This type of planning covers all the legal matters that may arise at a time when you need to stay in a nursing home, and all the services required for taking care of your assets when that time comes.
Planning Early Is Vital
You May Qualify for Medicaid to Pay Your Nursing Home Bills, Which Can Save You Thousands of Dollars Each Month!
Due to the limitations of the options available to pay for care, Medicaid is the most popular option for most Americans. The need for nursing home care does not have to catch you off guard. Planning early is vital. If possible, you should begin planning at least five years before you need to enter a nursing home. When you plan far in advance, you can work within Medicaid guidelines to create a plan that protects the majority or all of your assets from long-term care expenses.
Benefits of Medicaid Pre-Planning
- Protects Your Family Home. Prevents the Government from taking possession of your home when you die as a result of “State Medicaid Recovery.”
- 5-Year Look-Back Penalty. Minimizes your risk of facing this penalty and being disqualified from receiving benefits, forcing you to spend your nest egg and your kids’ inheritance to pay for care.
- No Gifting Penalty. When you give your assets away to a loved one directly, you may face potential gift tax issues. However, there are strategic methods of transferring your assets so they are completely gift-tax free!
Our experienced attorneys can help you understand the choices available to you and prepare for the future with a clear plan for how to pay for a nursing home without going broke or losing the family home. In a way, our Medicaid planning services take care of your family, as well. With a carefully drafted Medicaid plan, you will never be a financial burden to your family if the time comes that you’d need to stay in a nursing home or assisted living facility. Also, this plan helps protect your assets as you don’t have to liquidate them just to afford the type of health care you might need.
For all your Medicaid planning needs in Arkansas or Tennessee, our Medicaid planning attorneys can be of service to you. Message us to schedule your personal consultation or call us today at 870-275-4304 for any questions.