Medicaid Planning Trusts
Medicaid Planning Attorney in Monmouth County Helps Residents Prepare for their Future
UHB Law Group understands the many challenges we face as we grow older. Whether these concerns are in regard to maintaining health, entering a nursing home or facing death - planning strategies, such as Medicaid financial planning is essential. Our Manalapan, NJ based firm helps families protect their assets, which they have worked so hard to attain, and ultimately pass them on to their heirs. If you live in Monmouth County or Middlesex County, we want to be your community attorneys. A Medicaid planning attorney offers both understanding and experience as you plan for your future.
Trusts and Medicaid
People may find themselves without the funds, long-term care insurance, Veterans’ Benefits or other safe guards, should nursing home care be needed. When nursing home care can exceed $10,000 a month, this may be alarming. For this reason, understanding Trusts and Medicaid are vital.
A Medicaid Trust allows you to both secure and/or transfer assets, including your home into an irrevocable trust that will be managed by a trustee or several trustees - except a spouse. Many clients select a child, friend, sibling or attorney. Once we draft your Medicaid Trust, you can:
Live in your home as long as you and your spouse are alive.
Collect income (rent) generated by the property.
Qualify for several tax benefits.
Change your trustee if unhappy with their services.
Protect beneficiaries from creditors.
Start the Medicaid 5-year look-back should nursing home care be necessitated.
Avoid the costly expense and time of litigation.
The key to securing your money for you and your family is to start early with Medicaid financial planning. Medicaid rules and guidelines are strict and overwhelming. Navigating through them - which assets count, can assets be transferred, income limits, etc. will require an experienced Medicaid attorney. We want you and your spouse to continue to live the life you earned, and in the home you shared. If you would like to learn more about a Medicaid Trust, please schedule an appointment. A Medicaid planning attorney will sit down with you, listen to all your concerns, answer your questions and customize a program to help you reach your goals.