Medicaid Planning Assistance for the Elderly is a powerful way to alleviate much of the stress of navigating the financial nuances and Medicaid application process nightmare. In you or your loved one’s time of need, you should be focusing on the big picture of getting the needed care, instead of analyzing all the nitty gritty details of the protection and application process. Medicaid Planning Assistance for the Elderly will help you understand and execute asset protections strategies to protect you or your loved one’s hard-earned assets while still unlocking Medicaid long-term care benefits.
Unlock the Benefits of Medicaid Planning Assistance for the Elderly:
In order to understand the benefits of Medicaid Planning Assistance for the Elderly, it is helpful to understand the eligibility requirements for Medicaid for long-term care benefits. In 2024, an individual applicant may have up to $2,000 in countable assets and $2,829 in monthly income. A married applicant who is applying individually may have up to $2,000 in countable assets and $2,829 in monthly income. However, in this scenario, the “community spouse”, meaning the spouse who is not applying, may have up to $154,140 in countable assets in their name. The community spouse may have unlimited income. If a married couple is applying jointly, they may have up to $3,000 in countable assets and $2,829 each in monthly income.
If you or a loved one has more than these limits, fear not. There are a number of approaches that Medicaid Planning Assistance for the Elderly can employ to protect excess countable assets and income. The name of the game is employing asset protection strategies to convert countable assets to non-countable assets, which means that those assets are not used to determine eligibility. When undergoing Medicaid Planning Assistance for the Elderly, it is important to ensure that the protection strategies being employed focus on keeping assets liquid, within the family, and minimize or completely eliminate tax consequences. Many lower-end Medicaid Planning Assistance for the Elderly attorneys will likely utilize protection strategies that are simple and easy to implement but are not actually the best solution for applicants and their families. For this reason, it is crucial to find a high-quality Medicaid Planning Assistance for the Elderly specialist.
Final Words:
Platinum Benefit Services has been helping our clients for over 27 years, and we have won over 14,000 Medicaid approvals for our clients in that time. We file the application on behalf of our clients and assist Medicaid Planning Assistance for the Elderly attorneys in understanding effective protection strategy options. From that point, the attorney will provide a recommendation to the family. Together, Platinum Benefit Services and the aid of appropriate legal counsel in the form of Medicaid Planning Assistance for the Elderly attorneys create a match made in Heaven for helping you or a loved one qualify for Medicaid for long-term care while preserving your assets for you and your family. Contact us today!
