Your Guide to Proactive Medicaid Planning in 2020

Elderly woman touching face of young female nurse

The senior population is growing, with over 47 million people in the USA aged 65 and above. Obviously, as we age, our need for high-quality, accessible healthcare becomes critical. Medicaid plays an important role in providing seniors with quality long-term care. But, accessing this care can be a complex process. Your elder law and estate planning attorney can assist you in not only understanding your options, but also proactively implementing a strategy to ensure that you can access these options when the time comes that you need them.


Why Being Proactive About Medicaid Planning Matters

Medicaid is a federal program that provides coverage for the costs associated with long term care and healthcare for seniors. However, it is incredibly complex. Each year, Medicaid is tweaked and changed, all to help define the limits of who as well as what services are eligible for these benefits. Even the simplest errors or oversights in your application can mean you get denied benefits, which can be devastating.

As a result, legal specialists are often the most valuable resource in not only understanding this system, but for putting Medicaid planning strategies in place to ensure that when you need the benefits offered by Medicaid, you have the best possible chance of being positioned correctly to meet their very strict and complicated criteria.

Medicaid Planning Needs to be Customized

There is no one-size-fits-all Medicaid planning solution, and your estate planning attorney should tailor your strategy to you or your loved one’s financial position and needs. For example, if you are married, your strategy needs to include the possibility of one spouse being able to live independently at home while the other requires long-term care. You also need to consider how to manage assets to ensure that they are passed on to your children and grandchildren, rather than them being absorbed by costly penalties when you apply for Medicaid.

Being proactive about Medicaid planning is not about waiting until you or a loved one needs to access these benefits. Rather, it is about taking an active role to ensure peace of mind about your health and assets when that time comes.

Find Out More About Medicaid Planning – Book a Free Consultation with Your Estate Planning Attorney Today

At Sedita, Campisano and Campisano in New Jersey, otherwise known as SCC Legal, estate planning attorney Frank Campisano is ready to assist you with all your Medicaid and estate planning needs, including planning for Medicaid eligibility, business succession planning, personal estate plans, your Last Will and Testament, Power of Attorney, trusts or minimizing inheritance tax on your estate.

Contact us today and let us deliver expert estate planning advice to take care of all your Medicaid and estate planning needs. For more information, please visit our website at:http://www.scclegal.com/

Why Would I Need an Elder Law Attorney in 2020?

Elder Law

Elder law issues are complex. As the population over 65 in the USA grows, it is more important than ever before that the rights and needs of seniors and their loved ones are professionally protected and provided for. Here are just 4 of the reasons why it’s a good idea to hire an elder law attorney in New Jersey:


Medicaid Planning

Medicaid planning is one of the fastest-growing elder law services for a number of reasons; the increasing cost of senior long-term care and the complex implementation of Medicare on a state and federal level being two of the most important. The reality is that effective financial planning has to be implemented years before a loved one’s reliance on Medicare is anticipated. The job of an elder care attorney is to help you develop a plan that will ensure that when you or a loved one reaches the age where Medicare is necessary, that everything is in place to ensure eligibility to the appropriate level of care. This includes planning for assets, spousal provisions, and that critical 5-year look-back period.

Estate Planning

While you can – and should – develop your estate plan as soon as you start accumulating assets, estate planning is particularly critical for seniors. An elder law attorney can ensure that your Last Will and Testament is up to date, accurate, and legally-binding (most, if not all, DIY wills are highly problematic and flawed). He will also check that you have suitable provisions in place for not only your spouse and/or loved ones, but also even your pets, be it in the form of an inheritance, conditions in your will or by creating a trust.

Power of Attorney

Power of Attorney documents become increasingly important as we age, and are designed to ensure our financial and medical wishes are met in the event that we can’t advocate for ourselves. This document provides for important issues, including the following: 

  1. Who should handle your finances?
  2. Who should be provided for?
  3. What advanced life-saving measures do you want (or do not want)? and 
  4. How you would like your long-term care needs to be met? 

No-one likes to think of a time in which they are unable to voice these issues themselves, but it is so much harder on families and loved ones involved when there are no clear and legal directions for them to take.

Guardianship

An elder law attorney in New Jersey can assist you if you need to apply for guardianship over a loved one. They will inform you of the requirements and the responsibilities of this position, guide you through the legal process, and help you ensure that it is the right option for your loved one’s needs.

Need an Elder Law Attorney in New Jersey? Get a Free Consultation Today

Frank R. Campisano is a highly experienced and compassionate elder law attorney with considerable knowledge of Medicaid issues. In addition to planning ahead financially for Medicaid eligibility, he is also able to assist with applications, appeals, and other Medicaid issues. If you or a family member needs assistance with their Medicaid planning or protecting their assets effectively, don’t hesitate to get help today. In addition, you can also prepare additional estate planning documents, such as your Last Will and Testament, Health Care Proxy, Power of Attorney documents, and trusts.

For a free consultation and Medicaid assistance or NJ estate planning, please contact us today and speak to Frank R. Campisano or visit our website at: http://www.scclegal.com/

Call Now

×