Woodstock Medicaid Lawyer

As you get older, it is important that you make financial arrangements for the future. For many individuals, this means considering what will happen to their finances and property should they need to move into a nursing home.

Nursing homes can cost astronomical amounts of money. Without proper Estate Planning, this could see a total drain on your bank account and the sale of all assets to pay these bills. Fortunately, the creation of a Medicaid Trust can protect these assets for future generations.

A Woodstock Medicaid lawyer at our firm provide essential help in this area. Our seasoned attorneys at Nelson Elder Care Law can inform you about the relevant laws and craft documents that serve to protect your assets.

Financial Assistance Through Medicaid

It is no secret that obtaining care from a nursing home is expensive. With treatment costing many thousands of dollars a month, many people cannot afford these payments.

Fortunately, Medicaid can cover all the costs associated with living in a nursing home. However, this help is only available to people who have no other way of paying. While many people in Woodstock believe they must sell their personal property and real estate in order to afford nursing home care, creative Estate Planning could help you qualify for Medicaid without losing all your assets.

Benefit of a Medicaid Trust

One option that you have to prevent the liquidation of assets and still qualify for Medicaid is to create a Trust. A Trust serves as a way for you to transfer ownership of property to others because as soon as property enters a Trust, it is no longer considered yours.

This same concept applies to Trusts created to obtain Medicaid when moving into a nursing home. However, Medicaid is aware of this caveat.

As a result, a five-year lookback period applies all property that moves into a Trust prior to filing for Medicaid benefits. According to section 1917(c)(1)(B)(i) of the Social Security Act, if property is not in a Trust at least five years prior to filing an application, Medicaid can deny an application based on these assets. Our Woodstock attorneys can better explain how Trusts and Medicaid interact during your initial consultation at Nelson Elder Care Law.

Protecting Property Through a Medicaid Trust

Shielding property from taxation and valuation is one of the main reasons to create a Trust. But how do we accomplish this goal? Under the Official Code of Georgia Annotated § 53-12-20, a valid Trust will:

  1. Involve the intent of the creator to create the trust,
  2. Contain property,
  3. Name at least one beneficiary who receive the property, and
  4. Nominate a trustee to oversee the process

As applied to Medicaid trusts, the property in question is usually a family home. You must name this home with as much specificity as possible. You must also name a beneficiary who will receive the home at a specific date or event. Finally, you must name a trustee to take temporary control of the home. Our experienced local lawyers can assist you with creating these documents so you may qualify for Medicaid.

Contact a Woodstock Medicaid Attorney Today

Paying for nursing home care is a major burden for many people. While Medicaid can provide payments to alleviate many of these costs, it is only available to those who have no other way to pay.

Creating a Medicaid Trust can help to protect your assets for future generations. As long as you create a Trust at least five years before applying for Medicaid assistance, Medicaid will not evaluate that property when determining your eligibility for benefits.

Furthermore, our team at Nelson Elder Care Law can help if a sudden medical diagnosis creates the need for Medicaid crisis planning. Schedule a consultation with a Woodstock Medicaid trust lawyer at our firm today to learn more about this process and begin crafting documents that meet your needs.

Hear From Our Clients

“On the threshold of retirement, we finally decided to quit thinking we could self-prepare the requisite documents. We had previously had only a very simple will. We needed the necessary legal (including updated will) & health care docs but didn’t want to deal with the time & complication of legalese. Cindy made the process relatively painless. She took the time to explain and answer questions without trying to upsell services. We were done in 2 meetings plus the reading of emailed drafts. In addition to preparing the documents, Nelson Eldercare will be there when our adult children need advice on executing the plans we’ve put in place.So glad it’s behind us and would recommend Cindy and her helpful staff.”

- Bonnie

Cindy and her company treat their clients like family. Nelson’s offers clear, direct, and honest guidance in planning for your families security and future. No one wants to actively sit down and make these decisions, but Nelson’s makes this process seamless. I was so impressed with their willingness to answer all questions big or small. So glad I made the decision have them help my mom and dad and now me. You can’t go wrong with Nelson’s Elder Care Law.

- Hope

The very best elder law attorney and staff anyone could ever ask for! I have referred a number of clients to Cindy and she never disappoints. She is kind, caring, and extremely thorough in making sure everything is completed as it should be. I highly recommend Cindy for anyone needing lawyer services; she truly goes above and beyond for every client she helps and has had a huge impact in so many peoples’ lives. Thank you, Cindy and staff, for everything that you do- I’m so glad to know you!

- Kerri

I heard Cindy’s presentation at a Senior Luncheon at my church, and was very impressed. She helped my daughter and me understand many aspects of elder law. Josh has also been very helpful in my planning to enter an independent living situation . I have told many friends about them.

- Charlotte

Cindy and the Nelson Elder Care Law team are trustworthy and helpful. They are the experts in elder care law. At Leaf Cremation, we entrust our families to the care of the Nelson team when their services are needed.

- Pierce