Long-Term Care Planning Options And Assistance
Making decisions about a loved one’s health care can be a daunting prospect. For many families, the primary concern is how best to pay for long-term care. In many cases, developing a proper plan can mean all the difference in preventing health care costs from depleting a loved one’s assets.
At Robertson, Oswalt, Nony & Associates, in Little Rock, Arkansas, our lawyers advise clients on a variety of estate planning and elder law issues, including long-term care planning options.
Long-Term Care Planning Basics
In many cases, families do not realize that Medicaid benefits are available to help pay the cost of long-term care. In most cases, it is important to begin planning as soon as possible to ensure that a family member qualifies for Medicaid at the time when care is necessary.
Whether a person qualifies for Medicaid benefits depends on his or her assets. Usually, it is necessary for individuals to “spend down” their assets in order to qualify for Medicaid. While this may sound easy, there are strict rules about how assets can be spent and state officials will examine multiple years’ financial records to ensure that the rules were followed.
Our attorneys can explain how to develop a plan to ensure that your loved one qualifies for Medicaid benefits as part of his or her comprehensive estate plan. We work closely with our clients to ensure that they achieve their long-term planning goals.