Kennewick Medicaid Asset Protection Trust Lawyers
Many senior citizens require medical assistance but they do not want to use all of their financial resources to obtain it. Our Kennewick Medicaid asset protection trust lawyer understands your concerns as well as your goals. We can help you obtain the government support you not only need, but that you deserve while also helping you protect your assets.
How to Protect Your Assets While Obtaining Medicaid Benefits
Going through the Medicaid application process is often an overwhelming experience. Our seasoned attorney offers experienced counsel and can assist with developing strong strategies to obtain the financial support for your health care that you need. We can help you complete your Medicaid application, attend hearings with you, and file an appeal if this is a necessary step. We will fully explain how to protect your assets not just now, but in the future, as well. A few of the most common strategies used include:
- Gifting money to relatives
- Identifying assets that are exempt
- Placing your home in a trust and naming your adult child as a trustee
- Creating an irrevocable trust or a special needs or testamentary trust
- Modifying an existing trust
- Purchasing an annuity
It is not always easy to identify which strategy is the best option for you. A lawyer can explain which avenue is best suited for your own personal situation and your goals.
What Can Medicaid Benefits Be Used For?
Many people start considering whether they are eligible for Medicaid when their health care costs outweigh their income and the financial resources they currently have. There are many places in Kennewick, and throughout the entire state of Washington, that Medicaid benefits can be used for. You can use them in an assisted living facility, a nursing home, in memory care units, or in home health care. The funds provided through Medicaid benefits are sent to the healthcare provider, and not the individual who is eligible for them.
Is Divorce Necessary to Obtain Benefits?
Many people have heard of people who have gotten a divorce to protect their assets because one of the spouses required nursing home care. It is true that this is a strategy used by some, but it should not be the first, second, or even third consideration. Depending on your goals and the assets you have, there are many strategies that can be used that do not involve divorce. However, the legal strategy you use must be carefully implemented. It is for this reason that working with a lawyer is of critical importance.
Our Medicaid Asset Protection Trust Lawyer in Kennewick Can Outline Your Options
When you or your spouse requires medical care, but you also want to protect your assets in the meantime, you need sound legal advice. At Moulton Law Offices, P.S., our Kennewick Medicaid asset protection trust lawyer can provide it. Our experienced attorney will answer all of your questions, outline your options, and advise on which one is best for you. Call us now at 1-509-328-2150, #9090 or fill out our online form to book an appointment.