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Heritage Tree LogoWhat You Need to Know About Medicaid Planning in Pennsylvania

What You Need to Know About Medicaid Planning in Pennsylvania

As you know, millions of people across the United States of America depend on Medicaid coverage. If you are one of them, you may not have considered incorporating Medicaid planning into your estate plan, however, this is one of the smartest actions you can take. Our firm has helped countless individuals through the Medicaid planning process over the years, and we are ready to do the same for you, thus helping you and your family attain the peace of mind you deserve and need. Please continue reading and speak with our knowledgeable Pennsylvania estate planning attorneys to learn more about Medicaid planning, why it is so important, and how we can help. Here are some of the questions you may have:

Why is Medicaid planning so important?

Medicaid planning is important for a variety of reasons. First, you should understand that it is never too early to begin Medicaid planning. In fact, you should begin Medicaid planning at least five years in advance. You should understand that by planning ahead, you can avoid potential fines and other repercussions in the future. Those who decide whether you qualify will analyze your asset history, and failing to have a plan beforehand may negatively affect their decision.

Will I qualify for Medicaid coverage in Pennsylvania?

Qualifying for Medicaid is oftentimes not as simple as you may think. To start, you can only qualify for Medicaid coverage if you have very few assets. Additionally, since Medicaid coverage is so expansive, meaning it covers such a wide array of healthcare-related services, including nursing homes, assisted living, doctor’s visits, and more. For this very reason, Medicaid providers frequently deny individuals these benefits simply because they do not want to pay the cost of coverage. Fortunately, with our firm on your side, we can work to restructure your assets to help ensure that you do receive the Medicaid coverage you deserve and need.

How can I restructure my assets to qualify for Medicaid?

With the help of our Pennsylvania estate planning attorneys, we can work to restructure your assets through a wide array of strategies, including the following:

  • Create an irrevocable trust on your behalf
  • Prepay your funeral expenses
  • Pay off debts
  • Pay off your mortgage
  • Transfer the title of your home to beneficiaries
  • Gift assets to family members

If you have any additional questions, please do not hesitate to give us a call. We are always here to help.

CONTACT OUR EXPERIENCED PENNSYLVANIA FIRM

Whether you are dealing with matters involving estate planning, estate administration, or elder law, you need a legal team you can feel confident will represent your best interests, every step of the way. We are that legal team. Contact Heritage Elder Law & Estate Planning today so we can get started.

Estate Planning & Probate

Whether you’re looking to secure your family’s future, protect a loved one’s assets or provide a loved one with the financial assistance he or she needs to afford long-term care, we are committed to serving your needs. We consistently offer creative and effective solutions to your most complex and sensitive estate planning needs and help your wishes come to fruition through our probate service.

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Elder Law, Medicaid Planning & Asset Protection

Everybody’s life is full of both expected and unexpected challenges. With our experience with elder law issues, we can help you enjoy the later years and retain full control over decisions that directly impact you. The attorneys at Heritage Elder Law & Estate Planning view every challenge as an opportunity. We can help you or your loved one today.

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