What are some Medi-Cal Asset Protection Strategies to consider?
Although with the recent passage of the Deficit Reduction Act, increased restrictions affect the use of some techniques, other asset protection strategies remain viable, especially for married couples where one spouse requires long-term care. Some of these techniques may include setting up an Irrevocable Living Trust, making gifts to family members, and paying for certain Medi-Cal expenses.
Whether you are facing long-term care issues yourself or you have a family member who is, we encourage you to call with your questions or ask us for a free report. Be sure to call sooner rather than later because the timing of the decisions families need to make has a dramatic impact on whether or not someone can actually qualify for this type of support.
Elder Law involves planning for the complex health care, long-term care, and other issues facing elderly and disabled individuals and their families. Studies show that we stand a 40 percent chance of needing long-term care at least once before we die. Therefore, everyone should take into account that at some point residency in a nursing home or an assisted living facility may be needed.
However, the substantial cost of nursing home care for an incapacitated person can wipe away a family’s nest egg and the inheritance planned for surviving family members. The primary alternative to privately paying the nursing home is Medi-Cal.
21 “Mobile Friendly” Elder Care / Senior Care Directories
If you need help with this legal issue or with any Elder Care / Senior Care matter, you can find the help you need in one of the following 21 “Mobile Friendly” Elder Care / Senior Care Directories. These Elder Care / Senior Care – specific Directories are sponsored by the National ElderCare Matters Alliance, an organization of thousands of America’s TOP Elder Care / Senior Care Professsionals who help families plan for and deal with a wide range of Elder Care Matters.
John D. Laughton, Esq.
John D. Laughton, A Professional Law Corporation
An ElderCare Matters Partner
Medi-Cal Asset Protection Strategies