Planning Ahead for Medicaid Qualification
You Don’t Have to Go Broke Paying for Nursing Home Care!
Maybe your health is declining or you’ve had a recent “close call.” Or you’re healthy but concerned about your family’s history with Alzheimer’s or other illnesses…. And you’re worried about who will care for you and how you’ll pay for that care in your later years.
At Kinghorn Heritage Law Group, we have identified 5 ways to pay for long-term care. Click here to learn about these options.
Planning Early is Vital
In Arizona, the state Medicaid program has a long-term care benefit called ALTCS, or Arizona Long Term Care System. You may qualify for ALTCS benefits to pay your nursing home bills, which can save you thousands of dollars each month!
The need for nursing home care does not have to catch you off guard. Planning early is vital. If possible, you should begin planning at least 5 years before you need to enter a nursing home. When you plan far in advance, we can help you work within ALTCS guidelines to create a plan that protects the majority or all of your assets from long-term care expenses.
Benefits of Medicaid Pre-Planning
- Protects Your Family Home – Prevents the government from taking possession of your home when you die as a result of “State Medicaid Recovery.”
- 5-Year Look-Back Penalty – Minimizes your risk of facing this penalty and being disqualified from receiving benefits, forcing you to spend your nest egg and your kids’ inheritance to pay for care.
- No Gifting Penalty – Protects you from potential gift tax issues by using strategic methods to transfer your assets so they are completely gift tax free!
The rules for qualifying for ALTCS benefits are hyper-technical and it is very important that you work with an experienced attorney to avoid creating ineligibility. We can help you with the proper planning, advice, and implementation so you can qualify for ALTCS without the dreaded “spend down” or losing the family home. Click here to schedule your personal consultation or call us at (520) 529-4000.
To learn more, request your free copy of our guide, “Plan Today for a Secure tomorrow: The Benefits of Medicaid Planning with an Income-Only Trust.”