Contact Walk-In Wills today for help with will and trust creation, probate, long-term care planning, and other essential estate planning needs.
If you’re young and in good health, it may be hard to consider a time when you’ll need long-term care in a nursing home or other facility. However, this is a very real possibility for most people, and failing to create a dependable plan can leave you without the essential healthcare you require.
That’s where Walk-In Wills comes in. Our attorneys can walk you through the Medicaid planning process step by step to ensure you can access benefits when you need them while also retaining the assets you’ve worked so hard for during your life.
Medicaid is a government program that provides funds for healthcare services, including long-term care. As people grow older, they may require placement in an assisted living facility, which can be quite expensive. Medicaid can cover these costs, but it does impose limitations on how many assets a person can have in their possession.
Medicaid trusts allow you to keep your assets, including property, while also qualifying for vital benefits. In this case, the trust becomes the owner of your assets, which allows you to remain under the income thresholds associated with Medicaid.
Trust creation is a reliable way to secure long-term care via Medicaid. Some people choose to create a revocable trust and provide the trustee with authority over their finances. Should you be unable to care for yourself due to severe illness or injury, the trustee can manage your assets on your behalf. You can also rest assured that you’ll be within the financial limits established by Medicaid.
Establishing a special needs trust is another option. In this case, you can place property and other assets into the trust while still maintaining your essential healthcare benefits. Both options have benefits and disadvantages, so we’ll evaluate your unique situation to help you make the best possible decision for your needs.
All it takes is a phone call to our Gilbert, AZ office to schedule a no-obligation consultation. Contact Walk-In Wills today by calling (480) 470-7000 or contact us to learn more. We look forward to speaking with you.
