Protecting Assets While Planning For Medi-Cal Benefits
One of the main concerns of individuals seeking Medi-Cal benefits is the possibility of losing assets in order to meet eligibility requirements. It is important to remember there may be options available to protect assets and still qualify for the California Medicaid program.
Alice Salvo is an experienced Medi-Cal planning attorney who can efficiently sort through the Medi-Cal asset protection regulations, prepare the estate and make sure you file correctly. Not only will your loved ones thank you, you will be pleased to have accomplished peace of mind for them and yourself.
If you have questions about shielding your assets from Medi-Cal, we invite you to schedule a free consultation at our law firm. As a California Medi-Cal planning lawyer, Ms. Salvo can explain your options and what Medi-Cal benefits may be available.
Medi-Cal-Exempt Property And Medi-Cal Asset Protection
Individuals seeking Medi-Cal benefits in California may be able to keep exempt assets that will not affect their eligibility for benefits. These assets may include:
- Household items
- Personal items
- Burial arrangements
What Is Medi-Cal Asset Protection?
Medi-Cal asset protection is a tool you can use to hold the assets outlined above in the form of an irrevocable trust. This trust qualifies you for long-term care benefits and prevent “Medi-Cal Estate Recovery.” Setting up this trust early can help pay for nursing home costs as well as protect your assets.
Medi-Cal asset protection is especially important for individuals who have a spouse entering a nursing home. Our law firm can help file a petition in court to transfer assets and income of the spouse entering a nursing home to the spouse who is staying at home. This may also help qualify the spouse in the nursing home for Medi-Cal benefits.
Protect Your Assets Through Medi-Cal Planning
Are you currently dealing with a loved one in a nursing home and privately paying for care? If so we can help. Learn more about Medi-Cal asset protection. Save the family home and the 401(k) that you or your loved one worked so hard to acquire. Contact our Medi-Cal planning attorney online or call 818-676-9572 for a free initial consultation to discuss your situation.
We welcome AARP members who are looking for a viable long-term care solution. Don’t spend down your assets if you don’t have to. As a Medi-Cal planning attorney and elder law specialist, making sense of Medi-Cal and preserving your assets is what we do best.