In Florida, Medicaid planning means finding ways to qualify for Medicaid benefits while keeping money and property safe for individuals and their families.
Key aspects of Medicaid planning in Florida may include:
Asset Protection
Arranging money and property so that people can get Medicaid help when they need it, but still keep some of their money and property safe from being used up by expensive long-term care, like nursing home bills.
Income Planning
Managing income sources to meet Medicaid eligibility criteria while ensuring that individuals can still afford their living expenses and medical needs.
Utilizing Trusts
Creating irrevocable trusts, like a Qualified Income Trust or special needs trusts, helps keep assets safe from Medicaid rules that require spending them down, while making sure they’re still available for the people who will inherit them.
Home Equity Protection
Using an Enhanced Life Estate Deed helps keep ownership of the home safe, protecting its value and stopping Medicaid from taking it after the person has passed away.
In your consultation and throughout the Medicaid application process, we assist families in grasping and adhering to Medicaid regulations, making the process less confusing. It doesn’t have to be overwhelming.