Medicaid is a joint program between the state and federal governments that provides nursing home coverage and other long-term care coverage to blind and disabled individuals that satisfy the state’s asset and income restrictions and wealth transfer tests.

While your current income and assets may exclude you from Medicaid eligibility at the moment, with proper planning, you can:

• Transfer assets to beneficiaries
• Preserve wealth for your spouse and children
• Prepay funeral expenses
• Rapidly accelerate your eligibility for Medicaid Benefits
• Shelter your property from forced sales by the state
• Protect your home from Medicaid Estate Recovery liens and forced reimbursement attempts
• Offset the financial impact of nursing home costs

What’s the Benefit of Starting Medicaid Planning Early?

There are strict laws regarding transferring wealth and assets. You need to allow yourself sufficient time to meet Medicaid eligibility criteria. Otherwise, you will be denied benefits.

An experienced Providence Medicaid Planning attorney can work within the complex web of rules and regulations surrounding Medicaid eligibility in order to ensure the best possible result for your family.  Thereafter, should you need nursing home care, Medicaid would cover the expenses, leaving your assets to provide for your spouse and children.  It’s never too early to discuss asset protection.