Just when you think that your life has settled down into quiet retirement years, you’ll find that federal guidelines can affect your ability to put money away for any future long-term care. If you approach this step without help, you might unknowingly put your home and your legacy at risk. Any attempt to access Medicaid dollars could result in an investigation into your financial history for the last five years. Is there a way to avoid this complex and frustrating situation? Fortunately, there is a solution! With the aid of elder law lawyers, you can get access to Medicaid Planning in Lower Bucks County.
If you (or your parents) are approaching your senior years, then you should know that any of your liquid assets could be put at risk without Medicaid planning Lower Bucks County. Your retirement accounts, any real estate, and additional forms of income can all be put at risk. Your home, pension funds, and other forms of savings and investments could be lost without the appropriate planning. The costs associated with receiving care in a nursing home can add up quickly, eating through the savings that you have accumulated over the years. With the assistance of an experienced elder law attorney, you can establish a better plan.
How can you tell if you are ready for Medicaid planning in Lower Bucks County? Actually, the younger you are when you beginning making retirement and long-term living plans, the better. By consulting with an appropriate attorney early on, you’ll be able to form a living trust that cannot be accessed for Medicaid payments. There are other estate planning resources which can also be used to help you leave a legacy for your children and grandchildren without putting your own long-term care at risk.
There are some steps to take that you can make with the assistance of a knowledgeable and trustworthy professional. These could include removing your name from joint assets, transferring assets to other family members, and don’t rely on just any trust to keep your assets safe. Releasing control of your assets and agreeing to live on a minimal Medicaid allowance isn’t part of anyone’s dream. If you aren’t careful, though, any uninformed decisions that you make could steer you directly to this type of outcome. Instead of putting yourself at risk, consider talking with an experienced elder law lawyer Bucks County.
