Commentary

A Lawyer’s Role in Medicaid Planning

Do you need an attorney for even “simple” Medicaid planning? This depends on your situation, but in most cases, the prudent answer would be “yes.”

The social worker at your mother’s nursing home assigned to assist in preparing a Medicaid application for your mother knows a lot about the program, but maybe not the particular rule that applies in your case or the newest changes in the law. In addition, by the time you’re applying for Medicaid, you may have missed out on significant planning opportunities.

The best course? Consult with a lawyer who is expert in your state’s rules.  Especially when you’re married, or there are minor or disabled children whose financial future could be devastated, get advice on the entire situation. At the least, the price of the consultation will purchase peace of mind. What you learn can mean significant financial savings or better care for you or your loved one. This may involve the use of trusts, transfers of assets, purchase of annuities, or increased income and resource allowances for a non-institutionalized spouse.

Resources, once exhausted, are exhausted — and generally cannot be recovered.

 

*This article is provided for persons interested in elder law issues in Virginia and across the United States. This article has been written by a practitioner in the field of elder law, but unless otherwise noted, the writer is not affiliated with ThompsonMcMullan, P.C. Nothing in the newsletter or the articles is, or is intended to be, legal advice or a substitute for legal advice. If you need legal advice of any kind, please consult an attorney with experience in that area of the law, whether in our firm, or otherwise.

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