Does My Loved One Need a Guardian?
Published on April 20, 2018 by Muenter Law
Growing older brings many new joys and freedoms, but it can also present stressful and frightening healthcare situations. Illnesses and injuries are more common in older age, which makes health insurance essential. Planning to receive Medicaid coverage and knowing how to react if you are denied your benefits are critical components of preparation as you enter the next stage of your life.
Start With Medicaid Planning
Medicaid planning uses all available legal tools to help you qualify for Medicaid in the future while still protecting your most important assets. Medicaid is a needs-based program, which means that you must meet specific requirements in order to qualify. Unless you want to run the risk of paying for your nursing home or retirement care out of your own pocket, you need to show limited income and few assets in order to qualify for Medicaid.
This can be tricky to accomplish, especially if you have worked hard your entire life to build a life savings and pass down a valuable estate to your children and grandchildren. Medicaid planning makes it possible to maintain that nest egg, leave assets to heirs, and still receive Medicaid coverage. Elder law attorneys specialize in this practice to help you plan ahead.
What If You Are Denied Medicaid?
If you applied to Medicaid without appropriate planning, you may have been denied due to having excess resources. Excess resources qualify as anything above about $8,000 in non-exempt assets. Exempt assets include your residence, household goods, one vehicle, and a pension fund. Anything beyond those assets and an additional $8,000 is considered excess resources and is grounds for denial of Medicaid.
In the case of excess resources, you can use the help of an elder law attorney to make changes that help you qualify. You might be able to spend enough of your money on legitimate costs like burial reserves or medical bills to apply again and qualify. It’s also a possibility that you will need to transfer some of your assets to loved ones or purchase a Medicaid-compliant annuity.
In order to ensure you will receive Medicaid coverage when you need it most, call (813) 906-1064 to schedule an appointment with elder law attorney Kimberly Muenter in Tampa, Florida. Attorney Muenter specializes in Medicaid planning and will help you plan your path to full healthcare coverage.
Guardianship is often necessary, but it is also a complex process that requires the support of a skilled elder law attorney. For compassionate help and support arranging your loved one’s guardian, call (813) 906-1064 to schedule a consultation with The Law Offices of Kimberly K. Muenter in Tampa, Florida.
Tampa FL 33614