Worcester Medicaid Lawyer
Due to the rising costs of long-term care, your assets could quickly be depleted after only a short time in a Massachusetts nursing home. Through the effective planning of a Worcester Medicaid attorney, you can ensure that your assets will pass to who you want and not be spent on long-term care.
I am Nicholas W. Daviau, and I have years of experience in Medicaid planning and elder law. I will help you create a plan to protect your hard-earned assets while ensuring that you are eligible for Medicaid. Contact my law firm at 508-425-4270 to schedule an appointment with an experienced Worcester Medicaid attorney today.
Plan Early to Preserve Your Assets
When determining eligibility for a Medicaid program, the government will look back five years to determine if you have made any disqualifying transfers. That is why it is so important to plan ahead.
There are several different estate planning tools available to help you protect your assets from skyrocketing nursing home bills, including:
- Transfers to a spouse: Transfers to spouses are not subject to a look-back period. However, the applicant may only have $2,000 in assets to qualify for benefits. This excludes the value of the marital home and any vehicles.
- Irrevocable trust: An irrevocable trust allows you to transfer assets into the trust and out of your estate. Once you transfer the assets, you will not have access to them, though you will still be allowed to receive any income generated by the trust. An irrevocable trust is subject to the five-year look-back period, so you must plan carefully.
- Special needs or supplemental needs trust: If you have a disabled loved one in your family, establishing a special needs trust will allow you to transfer your assets without being subjected to a look-back period.
I will assess your situation and provide you with sound guidance and solutions tailored to your unique circumstances. I also provide Medicaid advocacy services for those individuals who are currently seeking MassHealth benefits, whether at home, in the community or in a long-term care facility.