Asset protection and Medicaid and Medicare planning

| Apr 24, 2016 | Medicare Planning

Many individuals that have worked hard their entire lives may be under the assumption that there isn’t any way of receiving Medicaid benefits while leaving their savings and assets intact. In fact, many seniors believe that their assets must be completely diminished before receiving Medicaid benefits. This assumption is not only inaccurate  but can be disastrous for seniors hoping for worry-free golden years. Fortunately, by working with an experienced elder law attorney, aging seniors can take the steps they need to preserve their assets and still receive valuable Medicaid benefits.

Often, the approach taken by elder law attorneys when developing a financial plan for seniors is a holistic one. A care planning approach of this nature usually enlists the help of many professionals of various backgrounds. Whether seniors are concerned with Medicaid eligibility, Medicare planning or asset protection, elder law attorneys can work with a team composed of social workers, care coordinators and financial advisors to create a comprehensive care plan that addresses an individual’s concerns.

For many seniors, retirement means taking the focus away from building wealth and turning it toward enjoying and protecting it. The last thing any older individual wants is to give up their hard-earned financial security in order to receive healthcare benefits. This is where an experienced elder law attorney can offer the most valuable help. By working closely with seniors, these attorneys can use their highly specialized skills and training to develop an effective and comprehensive care plan.

An elder law attorney can help alleviate the stress felt by seniors that don’t have a current care plan in place. Instead of having to choose between leaving a legacy to loved ones or receiving adequate health care coverage, an experienced attorney can help aging seniors receive the benefits they need and secure their financial future.