Seeking Medicaid planning advice from the right professionals is crucial to meeting the needs and rights of senior citizens, Kathy Limjoco, Elder Law Attorney of The Legacy Elder Law Center, revealed. —
For more information please visit https://legacyelderlaw.com
In an interview this week, the Leesburg, VA attorney asserted: "One of the biggest concerns among the aging population is the cost of care and whether they qualify for Medicaid to cover spiraling bills, such as nursing home costs.
"The wrong advice can result in them losing their assets and putting them and their loved ones in a difficult situation. Not everyone understands the complexities of the Medicaid system, including many estate planning attorneys."
Some people equate estate planning with elder law planning, but Limjoco explained that elder law attorneys protect your money and assets while you're alive, while estate planning specialists focus on how to distribute assets after a person's death.
She urged people to find an estate planning and elder law firm versed in both. “Working with attorneys experienced in both will enable a person to create a complete "Family Protection Plan," rather than just an estate plan."
She stressed that Incorrectly-worded trust agreements to protect assets can also jeopardize a person’s eligibility to qualify for Medicaid benefits.
"Many are unaware that certain income and savings are exempt under law from being applied toward medical costs,” elaborated Limjoco.
“If you're still wondering where to start in Medicaid planning and what assets shouldn’t be considered when applying, then consult an experienced elder law and estate planning attorney for the best approach. They can also address the many questions you may have about Medicaid."
Name: Rory Clark
Email: Send Email
Organization: The Legacy Elder Law Center
Address: Market Station, 108 South Street, SE, Suite E, Leesburg, VA 20175
Source URL: http://RecommendedExperts.biz
Release ID: 89050667