Skilled Legal Counsel For Medicaid Planning
With average life expectancies on the rise, eventual nursing home care is a fact of life for many people. However, nursing homes are not cheap. Medicaid can help cover a significant portion of the costs, but qualifying for Medicaid assistance can be difficult. The good news is, it is possible to engage in Medicaid planning with the help of an experienced lawyer.
I am estate planning attorney James S. Vergotz. From my law office in Pittsburgh, I have been helping people across western Pennsylvania with elder law issues since 1980. To find out more about how to plan for Medicaid assistance, call me at 412-366-0510.
How Can I Meet Medicaid Eligibility Requirements?
Medicaid is a joint program administered by the federal government and the state of Pennsylvania. It is designed to provide health care and nursing home coverage to low-income people in need. The income eligibility requirements are strict, and assets are considered to be part of an individual’s income. However, with proper estate planning, you can help achieve the eligibility requirements by properly:
- Transferring assets
- Prepaying funeral expenses
- Paying off debt
- Purchasing exempt assets
The government does not want people attempting to rig the system. You cannot simply transfer assets in an effort to meet the eligibility requirements when you need care. In fact, the state will look back five years to see if there are any improper transfers of wealth and may deny an individual Medicaid benefits. There is a lot at stake, which is why it is important to consider planning for the future while you are still in good health.
Contact James S. Vergotz, Attorney At Law
If you have questions regarding Medicaid eligibility or other areas of estate planning and elder law, speak with me. Call me at 412-366-0510 or contact me online to schedule an initial consultation to discuss your situation.
