Medicaid Planning Attorneys in Phoenix Working with You to Secure Your Future
While a lot of estate planning can be morbid such as drafting a will and creating a trust that protects your family after you perish, it is necessary and beneficial work. It can alleviate stress and worry for you now and it can lift the burden of your loved ones after you pass away. Coming up with a healthcare plan may sound similarly morbid but it is wise to set yourself up with a solid Medicaid plan sooner than later.
The majority of people will eventually need some sort of medical care as they get older. Knowing what your means can afford you in terms of future long-term care can help you plan your other ventures stress-free knowing there is a solid Medicaid plan in place that can protect you or a loved one in the future. Medicaid planning attorneys can show you the plethora of options you may have and the factors that may affect your eligibility for certain plans.
What is Long-Term Care?
What happens when you stop functioning how you’re supposed to? As grey and white hairs take up real estate on your scalp and wrinkles find a home on your body, you may start feeling weaker and more tired than you were in your heyday. That is completely normal. However, in certain cases, disabilities may strike and you may not be able to do routine daily activities and actions anymore. It is possible that family members step up to the plate and provide you with care but not every person and family has that luxury. On top of that, even if you had family members willing to help you if you ever become unable to do basic living tasks, placing that burden on them may not be the optimal plan for you.
Planning your long-term care can help free up your family from the obligation of dealing with the day-to-day aspects of your life and theirs and still grant you access to professional long-term care. Whether you intend on having a caregiver in your home or if you plan on moving to a long-term care facility, a Medicaid planning lawyer can provide you with the information and advice necessary to make efficient and informed decisions.
Why is a Medicaid Plan Important?
A Medicaid plan can provide tremendous financial flexibility for costly medical expenses you intend on accruing in the future, especially if you are planning your long-term care. Medicaid requires specific criteria to qualify for financial support so you may need to consult with a Medicaid planning lawyer to see if you qualify. If you don’t qualify, that doesn’t mean you have to jump through hoops and run through a financial gauntlet to end up qualifying, you should simply talk to an experienced Medicaid lawyer to help you through the process.
Sometimes, you may be overqualified to be eligible for Medicaid. However, strategic manipulation of your assets can allow you to meet the threshold for Medicaid and set you up for the long run. It’s important to have a Medicaid attorney by your side so you can avoid mistakes, pitfalls, and ultimately meet your long-term care goals.
How Much Long-Term Care Does Medicaid Cover?
If you end up qualifying for Medicaid, you may be eligible for up to 50% coverage of many long-term care needs. It’s important to remember that Medicaid is only provided to certain people who do not have the means to fund their own long-term care. Even if you currently have the means to set up a long-term care plan, it’s important to talk to a Medicaid lawyer before making any decisions. Why give up money upfront when a lawyer can help you devise a plan that saves you money now and later?
Why Should I Consult with a Medicaid Planning Lawyer?
Medicaid lawyers have worked and consulted with many clients about their long-term care needs. Having someone experienced with the logistics of health care on your side can ease the burden of worrying about your healthcare in the future. The Bankruptcy attorneys in Phoenix, AZ at Israel & Gerity, PLLC have advised many folks like you that may have questions and concerns about the future. Set up a consultation with a Medicaid planning professional from Israel & Gerity, PLLC today by calling 602-274-4400. A simple call now can save you a ton of time and effort in the future.