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Hellertown, PA Medicaid Planning Attorney

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If you live in Hellertown, Pennsylvania and are either approaching retirement age or are currently enjoying it, it’s time to start thinking about Medicaid planning!

You may be in perfect health and wondering why you’d need to begin this process, but the truth is, it’s likely there will come a time when you aren’t as healthy as you are right now, and it’s crucial to be prepared for that moment. Whether it’s 5 years from now, or 15, you may need to enter a nursing home, and the cost of doing so is high. Medicaid planning can help you prepare for these costs.

Our skilled Hellertown Medicaid planning attorney can explain how the process works, and guide you through every step to ensure you have peace of mind about what’s to come. Call Daly Law Offices now to schedule a free consultation.

Hellertown Medicaid Planning Attorney

What Is Medicaid Planning & Why Is It So Important?

Medicaid is a government-run financial aid program that can help cover nursing home costs. It is income-restricted. Medicaid planning is a legal method for shielding your assets from the expenses of long-term care; more specifically, it involves guarding them ahead of time using legal tools like trusts so that your assets don’t count against you and prevent you from qualifying for Medicaid.

Many Pennsylvania seniors (as well as their families) aren’t usually aware of how high the cost of long-term care really is. The average cost of living in a PA assisted living facility is $3,600 per month, (over $43,000 a year). A nursing home is even more expensive to live in, with semi-private rooms costing $108,000+ per year, and a private room costing $117,000 annually. These costs aren’t covered by Medicare, and likely aren’t covered by your insurance either.

If you don’t have coverage for these costs, and you don’t qualify for Medicaid, you have a few options:

  1. Use your life savings or the inheritance you planned to leave to their children and/or grandchildren to pay for your care.
  2. Go into debt to pay for your care.
  3. Become a financial burden to your families, who will have to come up with a way to pay for your care, jeopardizing their own financial stability.
  4. Go without the care you need because the above options aren’t available.

You’re probably thinking that none of these options sound desirable, and you’re right! You deserve to live out the last decades of your life as peacefully and joyfully as possible, without having to worry about the financial woes of nursing home care.

Medicaid can help alleviate some of this stress and worry, but it doesn’t come without strict income requirements. Many seniors find themselves ineligible for Medicaid because they have “too much” money, yet they still don’t have enough money to afford nursing home or assisted living care. That’s why Medicaid planning with the help of an experienced lawyer is so important!

When Should I Start Medicaid Planning?

Medicaid considers any asset transfers or gifts made within 5 years of applying count towards your eligibility. This is known as a “look back” period. That’s why it’s imperative that you don’t wait until you do need to enter a nursing home to apply for Medicaid. If you do wait, it’s likely you won’t qualify. That means you need to consider planning 5 years in advance.

No one knows what the future will hold, which is why it’s important to plan accordingly. It’s in your best interests to start working with a Hellertown Medicaid planning lawyer as soon as possible. We generally recommend starting to plan after you hit the age of 60.

How Our Hellertown Medicaid Planning Attorney Can Help You

When you work with our Hellertown Medicaid planning attorney, Joshua N. Daly, he can convert your assets in a way that makes them “non-countable” so that you still have access to them, but they don’t count against your eligibility for Medicaid. There are various tools, such as annuities, irrevocable trusts, and more that can be used to accomplish this.

Medicaid planning can be a complex process, and the application can be confusing. Having our Hellertown Medicaid planning attorney in your corner can give you an advantage in protecting your assets, for your sake and that of your loved ones’. Don’t wait until it’s too late – call now to book a free consultation and learn more about your options.

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Hellertown, PA Practice Areas

Worked together on a relative’s Estate Planning. Very easy to work with and knowledgeable. So glad we chose Josh. Thank you.

Beth Macik

Josh we wanted to take a moment to thank you from the 3 of us from the bottom of our hearts. You are a gift and you have such a gift in what you do and they way you actually do it.
A total class act with the perfect personality for your profession. We can’t tell you enough how much we appreciate you and honestly thank so much. And it won’t be the last you see of us. Much Appreciation. The Stine/DiGiovanni family
*We highly recommend Joshua Daly for Elder Law, wills, etc. This is something that people don’t know what can happen when your parents pass away or what to do. Josh helps prevent as much as you legally can the home and assets being taken by elder care home and/or govt.
What a great experience on a subject people don’t like to talk about but is so important. Josh makes this process pleasant. We are recommending Josh to all our friend and family and friends. Everyone should get their ducks in a row. I am glad we met Josh & finally did this!
Thank you Josh

Stephanie DiGiovanni

Daly Law Offices

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