Medicaid Crisis Planning

A distressed caller: "My parents did not plan ahead for their nursing home expenses and now my widowed mother has to move into a nursing home. The nursing home told me that Mom has to spend almost all of the money and assets she has before she will qualify for Medicaid. Mom is spending her life savings quickly because the nursing home costs about $10,000 per month! Can you help us protect Mom's assets?" Yes!

 

Medicaid Crisis Planning may be possible through the use of special provisions in the Medicaid laws. Though less desirable than long range Estate Planning, if accomplished prior to making a Medicaid application, Crisis Planning can often be used to transfer about half of a Medicaid applicant’s assets - even if a patient is already in a skilled nursing facility or receiving home care. Crisis Planning is accomplished through a combination of authorized activities, such as using resources to fund a permitted “luxury account”, prepaying certain exempt expenses, establishment of trusts, or even gifting.

 

Though making gifts in the sixty months prior to applying for Medicaid triggers a penalty period, Michel J. DeBottis has the skills and experience to reallocate assets using Medicaid approved funding mechanisms to pay for care during the penalty period. After the penalty period expires, the Medicaid applicant will become eligible for Medicaid, and his or her loved ones will have the benefit of assets preserved through the Crisis Planning process. Mr. DeBottis can provide the professional representation needed during Crisis Planning and the Medicaid Application process to ensure that you will qualify for Medicaid as quickly as possible.