Plan Now For Your Golden Years
Elder law encompasses a wide range of legal issues those in – or approaching – their golden years contend with. One of the most common elder law concerns is how to plan ahead for long-term care.
Contrary to what many people may think, you do not necessarily have to give away or “spend down” your assets in order to qualify for Medicaid benefits or long-term care assistance. It is possible to preserve your assets while taking steps to help ensure a high quality of life in your golden years. A lawyer who is experienced in elder law issues can help you explore the options and help you plan better.
Carl Goode is an experienced attorney and founder of the Goode Tax and Estate Planning Law Group, LLC, in Baton Rouge. Mr. Goode is a certified estate planning and administration specialist, recognized by Louisiana Board of Legal Specialization. The board grants this certification to select few attorneys in the state who are highly skilled and experienced in the estate planning and administration.
He brings this experience and knowledge to individuals and families seeking help to resolve complex elder law issues, including when loved ones have failed to plan. To schedule a consultation, call 225-230-9027.
Qualifying For Medicaid And Long-Term Care
Medicaid and long-term care planning are subsets of estate planning. A comprehensive estate plan should address these matters, and it is never too early to begin thinking about the possibility that long-term care assistance may be needed, especially since most people are living longer now.
In order to qualify for Medicaid assistance, you must meet the program’s income requirements. For most people, this means arranging your assets in a way that will allow you to preserve your assets for future generations while still qualifying for government benefits. This is usually done by transferring your assets to a trust or directly to your beneficiaries. However, the government views sudden, large transfers with suspicion, which is why it is important to consider these issues before you may ever need to rely on Medicaid assistance.
VA Benefits: Are You A Qualified Veteran?
For qualified veterans, the United States Department of Veterans Affairs (VA) aid and attendance benefits can also provide supplemental income assistance that can assist with long-term health services. These benefits may also be available to surviving spouses of a veteran. Attorney Goode can let you know whether this is a viable option for you and determine the best way of receiving these important benefits.