Medicaid and nursing home crisis planning is the process of strategically organizing finances, assets, and healthcare when an individual suddenly requires nursing home care. The goal is usually to qualify for Medicaid while safeguarding important assets.
If you or a loved one is facing the prospect of an imminent nursing home admission, our elder law attorneys can help you form a plan that is unique and personalized to your family’s needs. Without a strategy, you leave important decisions to the nursing home and the government.
Our Medicaid lawyers in Marietta have served hundreds of families and assisted them with Medicaid planning and other legal issues that impact people as they age.
Call now to schedule your free Legacy Planning Meeting and find out how we can help with your strategy.
The Importance of Working With an Attorney
An injury, illness, or other emergency that has the potential to lead to a nursing home admission can be stressful and confusing for prospective residents and their families.
Sorting out your options is difficult, and it helps to have guidance from an attorney who understands the process.
While social workers and financial officers at the nursing home can be helpful in some situations, it’s important to remember that they work for the home, not you. Our attorneys are your advocates who will protect your interests. Some of the things our team may do to help include:
- Guide you through what to expect before and after a nursing home admission
- Clarify Medicaid rules and eligibility requirements
- Review your finances and assets to help you understand your planning options
- Prepare the legal documents necessary for effective Medicaid planning
- Advise community spouses on how the admission affects their rights and resources
- Help you avoid common mistakes that can lead to delays or penalties
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Estate Planning ConsiderationsIdeally, individuals complete their estate planning well before a nursing home admission becomes necessary. However, many people postpone these important decisions, which can lead to urgent Medicaid and long-term care planning when a crisis occurs.
If a new nursing home resident is mentally competent and legally able to sign documents, they can still put estate planning documents in place. Our estate planning lawyers can help you ensure your documents are accurate and customized. These include:
- Financial Power of Attorney: This is a legal document that lets you appoint someone to manage your financial and property matters if you can’t do so yourself.
- Advance Directive: A document that outlines your medical care preferences and designates someone to make healthcare decisions on your behalf if you cannot communicate them.
- Last Will and Testament: A legal document that directs how your assets will be distributed after your death and names guardians or personal representatives when needed.
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Understanding Medicaid Regulations
Medicaid is a program administered by the federal government and run by the state that provides health coverage to eligible low-income individuals. This includes seniors, people with disabilities, and families. For nursing home residents, it can help them pay for care.
Nursing homes are extremely expensive, and even people with good income sources often struggle to pay the full cost of care every month. Medicaid can make up the difference, but residents must meet eligibility standards for assets and income.
Our legal team’s Medicaid crisis planning strategies are unique to our firm, effective, and tailored to your needs. We’ll help you understand and address important aspects of Medicaid.
Medicaid Eligibility
Facilitating Medicaid eligibility is one of the main goals of Medicaid crisis planning. Eligibility depends on meeting Georgia-specific income and asset limits. Applicants must document not only their current finances but also any asset transfers within the five-year lookback period.
The Medicaid Spend Down Process
Medicaid spend–down is the process of reducing countable assets or income to meet Medicaid’s financial eligibility limits. This can involve paying medical bills, purchasing exempt assets, or using approved planning tools.
Medicaid Estate Recovery
Medicaid estate recovery for nursing home residents allows the state to seek repayment for the cost of nursing home care paid by Medicaid after the resident’s death. Depending on the circumstances, the state may claim a family home and other assets.
Get Help With Medicaid and Nursing Home Crisis Planning
Medicaid and nursing home crisis planning is essential when you or a loved one requires emergency nursing home placement. While it doesn’t take the place of smart estate planning done years in advance, it can help a resident qualify for important benefits.
This can be a tremendously stressful time for new nursing home residents and their families. It’s smart to work with an attorney who can help protect your assets while qualifying for Medicaid.
Our team at Nelson Elder Care Law has been here for Georgia families for more than a decade. When you’re facing an emergency nursing home admission, we can help.
Call today to schedule your Legacy Planning Meeting and get started.