Strategic Planning To Protect Your Assets From Nursing Homes
The cost of nursing homes and other assisted living facilities is higher than ever. You want to preserve your assets as much as possible while receiving a high quality of care. There are certain programs such as Medicaid from which you can seek assistance, but you cannot have assets over a certain value.
If you are planning for your advanced years, it is time to consult Michael T. Heider, P.A. As a reputable elder law attorney with more than 15 years of experience, Mr. Heider can help you take full advantage of the asset protection options available to you. He is also a certified public accountant with extensive financial knowledge.
How Can I Optimize My Assets?
If you want to receive Medicaid while you are in a nursing home, you cannot have more than $2,000 in countable assets if you are single or $4,000 for you and your spouse if you are married. However, you can use certain strategies to qualify. Some of the methods we help you explore include:
- Irrevocable asset protection trusts
- Pooled income trusts
- Gifts made within the five-year lookback period
- Long-term care insurance
- Annuities and promissory notes compliant with Medicaid
These are merely a few options. We do not take a cookie-cutter approach with our clients; instead, we come up with unique plans. We do everything we can to help you preserve your hard-won assets to care for yourself and your family instead of going toward a nursing home.
Begin Planning Today – Request A Free Consultation
It is never too soon to begin planning for your nursing home care and financial arrangements. Mr. Heider can help you. To schedule a free consultation with him, please call his Clearwater office toll-free at 727-235-6005. You can also send him an email.