In today’s world, long-term health care costs have become staggering. Medicaid is often the only way for middle-class Americans to be able to afford nursing home care. This makes Medicaid and asset protection planning indispensable to anyone who owns their own home or has other significant investments. Without an asset protection plan in place, you could be forced to sell your home or give up much of everything you have worked for over your lifetime just to qualify for Medicaid benefits.
At Crosswhite, Crosswhite & Johnson, our lawyers are well versed at Medicaid planning and asset protection. Our firm has been providing these types of financial planning services for years to people of all walks of life with diverse circumstances and needs. Medicaid laws are complicated with strict limitations as to your assets and income. Medicaid planning and asset protection involves devising appropriate methods for protecting assets while making it possible to qualify for Medicaid that helps you pay for long-term health care.
Asset protection consists of legal strategies designed to protect your wealth from losses such as taxation, liens, seizure, and more. We help families and individuals protect their assets from creditors and government agencies by making use of available legal tools. Our attorneys have several decades of combined experience with estate-related concerns and a comprehensive understanding of both the law and how the law can be made to work favorably for our clients.
Medicaid planning is an important part of estate planning and asset protection. At Crosswhite, Crosswhite & Johnson, we understand how the requirements for qualifying for Medicaid work and can put into effect strategies that will help to protect your assets without jeopardizing your ability to obtain the long-term care you may need. The best time to start this planning is well before you will need Medicaid benefits.
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The good news in all of this is that our legal team can help to develop and implement an asset protection and/or Medicaid plan that works for you. These plans don’t have to be as complicated as they sound and can often be accomplished at a reasonable cost. We can assess your situation to determine the steps you need to take and can help you move forward to put those steps into place to ensure that you retain the assets you have built over a lifetime.