Looking for Asset Protection Sterling Heights MI?
Heritage Elder Law & Planning is an elder law firm Sterling Heights MI focusing on Asset Protection Sterling Heights MI. For those who have a loved one in a nursing home, about to go into a nursing home, or who may go into a nursing home in the future, expert legal services are needed. There are sound legal strategies to permit such persons to save a large percentage of their assets while qualifying for Medicaid long-term care Sterling Heights MI. Doing nothing to protect yourself or your loved one could mean a loss of all assets or an entire inheritance. Trying to understand and apply for Medicaid law without the help of an experienced attorney could lead to even greater problems. If you need help with Asset Protection Sterling Heights MI call us today!
Most people think they have to “spend down” all of their income -- and give up most, if not all, of their assets before the federal-state Medicaid program will cover their nursing home costs.
Our attorneys bring decades of proven experience in advising clients on effectively implementing a wide variety of wills Sterling Heights MI, trusts Sterling Heights MI, powers of attorney and medical directives documents. We use strategies ranging from a simple last will and testament to a complex trust. We can help with Asset Protection Sterling Heights MI.
The primary financial support for Americans who need long term care and are 65 and older is Medicaid Sterling Heights MI. However, many may incorrectly assume that they will have to deplete all of their assets, including savings, investments, and any inheritance they have saved for their children, before qualifying for Medicaid Sterling Heights MI.
Some can qualify for long term care insurance if they are not already in poor health. Many types of policies are available, and these include policies that return premiums paid in the event that there is never a need for long term care.
The benefits can be paid to someone outside the home, (which may include family members) or to the Veteran’s spouse, or most importantly, to an assisted living facility. However, if the benefits are paid to the spouse, the funds are considered income when determining eligibility for the program.
