Medicaid – not Medicare – is the program Americans rely on to receive long-term care. For most Americans, long-term care is catastrophically expensive, and is the single most likely and single most costly creditor most Americans face during their lifetimes.
The process of qualifying for and obtaining Medicaid to pay for long-term care expenses is convoluted, complex, and full of statutory and administrative traps for the unwary. The application procedure is full of ambiguities, and the entire process is shrouded in vagueness. Elder Planning Plus™ Attorneys handle do the job from start to finish. Elder Planning Plus™ Attorneys work with you to establish your goals and desires when it comes to the type of long-term care desired for you or your loved one. One of the main goals is to obtain Medicaid or Veterans Aid & Attendance benefits to help pay for the catastrophic costs of long-term care.
Elder Planning Plus™ Attorneys are licensed to provide clients with Benefits-Focused Asset Protection™ - a program designed to guide individuals , couples, and families through the incredibly complex Medicaid maze from start-to-finish. Benefits-Focused Asset Protection™ can save families hundreds of thousands of dollars or more!
Myth: "Don't Medicaid recipients receive worse care than private pay Nursing Home residents?"
Reality: It is a violation of federal law for a nursing home to discriminate in any way against a Medicaid recipient. Plus, the reality is that nursing home residents who have done proper Benefits-Focused Asset Protection™ are typically the residents who get the best care in any given nursing home.
Myth: "A nursing home resident must ‘spend down’ virtually all assets on nursing home care before qualifying for Medicaid."
Reality: Elder Planning Plus™ Attorneys can generally protect 100% of a couple’s assets and between 40%-70% of an individual person’s assets.
Myth: "Greedy children want Medicaid Planning to protect their inheritance."
Reality: Elder Planning Plus™ Attorneys all have a passion for protecting the dignity and quality of life of the Elder, which is what Elder Planning Plus™ is all about. While Medicaid can cover the majority of long-term care expenses in many cases, some items are not covered. By protecting assets through an Elder Planning Plus™ Attorney, you can afford items and services not covered by Medicaid, such as dentures, hearing aids, eyeglasses and more.
Incapacity Planning™: Protects loved ones from the time, inconvenience, complexities, and expenses of "living probate" (i.e., Guardianship and Conservatorship) in the event the person is unable to manage their own legal, financial, and medical affairs.
Estate Planning: Incapacity Planning plus a Revocable Living Trust so that assets, after death, can be transferred to loved ones with simplicity and convenience, avoiding the time, complexities, and expenses that make up the "nightmare of probate." Plus, optional complex options such as under-age beneficiaries, special needs beneficiaries, pet trusts, and more.
Living Trust Plus™ Asset Protection: Protects assets from lawsuits, auto accidents, creditor attacks, medical expenses, and catastrophic expenses often incurred in connection with nursing home care. For purposes of Medicaid eligibility, this type of trust is the only type of self-settled asset protection n trust that allows a settlor to retain an interest in the trust while also protecting the assets from being counted by state Medicaid agencies.
Benefits-Focused Asset Protection™: Qualifies the client for Medicaid, protects assets, and enables the client to enhance their quality of life by purchasing goods and services not covered by Medicaid, including dentures, hearing aids, vision aids, and personal items; services such as enhanced medical care or private sitters to provide you an enhanced level of care. A secondary goal is sometimes to preserve an inheritance for heirs, particularly if there is a needy or disabled loved one or someone who needs special financial help.
Evan H. Farr, CELA, CEA, is the creator of the Living Trust Plus Asset Protection Trust, and has been in private practice in Fairfax since 1987, and is the only attorney in Virginia who is both a Certified Elder Law Attorney and a Certified Estate Advisor. Since 2007, Evan has been named by Virginia Super Lawyers Magazine as one of the top attorneys in Virginia, and in 2008 Evan was named by Washington, DC Super Lawyers Magazine as one of the top attorneys in DC. The Super Lawyers designation is bestowed upon the top 5% of lawyers in each state as chosen by their peers and through the independent research of Law & Politics. Evan is also the author of an acclaimed book in the field of Elder Law, The Virginia Nursing Home Survival Guide.