With decades of expert knowledge, estate planning attorneys in Florida that work alongside Platinum Benefit Services can be your trusted partner in crafting comprehensive and personalized estate plans.
Estate planning attorneys in Florida employ various legal strategies to protect clients' assets while meeting the Medicaid eligibility criteria. It involves the creation of certain kinds of trusts, like an irrevocable Medicaid trust, that allows Medicaid applicants to transfer their assets out of the estate while retaining control over them and remaining eligible for Medicaid benefits.
2. Income Planning
Medicaid is developed for financially limited individuals and has strict income-limit criteria. Estate planning attorneys in Florida assist clients in re-structuring their income to comply with Medicaid’s requirements and become eligible for benefits. It entails creating revenue streams that are excluded from Medicaid eligibility or transforming specific forms of income into exempt criteria.
3. Spending Down Strategies
Medicaid eligibility is attained using spend-down strategies. Working with clients to create suitable spend-down plans, estate planning attorneys make sure assets are handled prudently and in a way that satisfies Medicaid eligibility standards as well as the clients' long-term care needs. These tactics include investing in exempt assets, making home improvements, and paying off debt.
4. Preparing Medicaid Planning Documents
Medicaid planning requires the drafting and examination of certain legal documents, which estate planning professionals handle. This involves drafting living wills, healthcare proxies, and powers of attorney documents that provide reliable people the authority to make financial and medical choices on the Medicaid applicant's behalf. Our experts are good at preparing the Medicaid application documents that ensure there is no delay or rejection of the application.
5. Navigating Through the Medicaid Rules and Regulations
The requirements for qualifying for Medicaid are complicated and differ by state. The Estate planning attorneys in Florida keep abreast of the recent rules, assisting applicants in navigating the complexities of the Medicaid application procedure. They secure the assets, fulfill all eligibility requirements, and guarantee Medicaid application approval in this way.
Our Medicaid specialists at Platinum Benefit Services, Inc. assist in putting necessary plans into action and accurately processing the Medicaid application for benefits. The skilled estate planning lawyers in Florida devise plans to guarantee your Medicaid eligibility. We cordially encourage you to arrange a meeting with our Medicaid specialists and set out on a path to a stable financial future.
What has it been like working with Platinum Benefit Services?
“As a retired healthcare executive (CEO of 4 major systems over 27 years) I was unfamiliar with the significant detailed information necessary to obtain Medicaid approval (for a retired, single, sister). Your staff at Platinum, primarily Jenna Newton, was incredibly professional and proficient. I could not have received better counsel, advice, and service. Words are inadequate in expressing my gratitude to your outstanding organization. Sincerely, Ned B. Wilford”
Ned B. Wilford
“I was glad I found Platinum Benefits when my father needed more care than his previous facility could provide because I had no idea how to apply for Medicaid. They put me in touch with an attorney for all the legal matters and helped me with all the paperwork. It was a lot to do but worth all the time and money when Dad got approved.”
“I had no idea how to go thru the process for filing for Medicaid. I was referred to Platinum Benefit from the social worker at my Dad’s nursing home. From the time of the initial phone call all the way thru people there were wonderful. They were helpful in explaining things and walking me thru this very difficult process. Dad’s Medicaid was recently approved and while I from time to time call Platinum with questions, they always help answer them. Thank you!!”
Platinum Benefit Services, Inc. is committed to helping families gain maximum government benefits for Long Term Care and providing both compassion and application expertise. Since 1996, we have helped Over 14,000 families qualify for Medicaid while strategically protecting an estimated $1,000,000,000 in assets in conjunction with appropriate legal counsel.