Nazareth, PA Medicaid Planning Lawyer
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What Is Medicaid Planning?
Medicaid planning is a legal process of shielding your assets so that they won’t count against you and render you ineligible if you need to apply for Medicaid in the future. Essentially, many legal tools – such as trusts – are used to convert “countable” assets to “non-countable” assets. This way, you and your family can still access your life savings, but it won’t be at risk of disqualifying you for this type of important financial aid.
Why Is Medicaid Planning So Important?
Many people have never heard of Medicaid planning, or don’t think that they will ever need Medicaid, but in today’s world, seniors are living longer than ever before. This means that more seniors are needing to enter a nursing home at some point in their retirement (some only temporarily), but the costs of care aren’t covered by Medicare or by most private health insurances, a fact which is unbeknownst to most elderly adults. The actual costs of care themselves are also a surprise to most; in Pennsylvania, the average cost of a private room in an assisted living facility is over $10,000 every single month.
Unless you can qualify for Medicaid (a government financial assistance program designed for seniors and other individuals), you risk losing your life savings to the nursing home if you have to pay those costs out of your own pocket. You may not be able to leave an inheritance or as large of an inheritance behind to your children and grandchildren. If you can’t afford the expense, you may become a financial burden on your family members, who may have to pay for your care or go into debt to handle the costs; if they cannot afford to pay, you face potentially having to go without the care you need and deserve.
However, qualifying for Medicaid isn’t a walk in the park. The program has strict resource limits, meaning that you could find yourself in the tough position – as many seniors have – of having too much money to be approved for aid, but not enough money to afford nursing home costs. In order to give your application the best chance at being accepted, you need to plan ahead, and work with a knowledgeable Nazareth medicaid planning lawyer who can safeguard your assets.
What Can Our Nazareth Medicaid Planning Lawyer Do For You?
The Medicaid planning process is highly involved, and mostly involves completing customized legal paperwork (creating trusts, restructuring assets, providing documentation regarding your medical status and income, and more). Getting the proper documentation in place requires extensive familiarity with both federal and state laws and Medicaid procedures. Attorney Joshua N. Daly has over 15 years of legal experience. He can explain all of your options, answer all of your questions, and take care of everything for you. He can take the burden of having to handle all of that paperwork on your own off your shoulders, as well as prevent any mistakes you otherwise may have made that could jeopardize your eligibility. Working with him will save you time, money, and stress!
Call Daly Law Offices Today To Book A Free Consultation.
Medicaid does have a 5 year “look back” period, where they consider all gifts and transfers made within 5 years of applying to count towards the applicant’s resource limit. Many people think that they can put off this aspect of getting their affairs in order, but no one is guaranteed tomorrow, and no one can predict if or when their health will take a turn. It’s important to plan now, while you still have time!
Our skilled Nazareth Medicaid planning lawyer at Daly Law Offices is ready to help you start today and leave behind a legacy you can take pride in. Mr. Daly focuses on providing customized care, practical solutions and professional integrity for all of his clients. He is a member of the National Academy of Elder Law Attorneys (NAELA), the Pennsylvania Association of Elder Law Attorneys (PAELA), and the Estate Planning Council of the Lehigh Valley, as well as being awarded the Lawyers of Distinction in 2022. Don’t wait! Call now to book a free consultation.
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Nazareth, 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.
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
Why Choose Us?
14+ Years Of Experience
Dedicated Small Firm Attention