Emergency Medicaid Planning
Preserving Assets with Emergency Medicaid Planning
Our dedicated Buffalo medicaid attorney discusses emergency medicaid planning and how it can help you protect your assets in the following educational video.
There is a method for preserving assets if a person has never done any prior Medicaid planning and finds him- or herself in a nursing home. This method is known as a promissory note, which allows the person preserve half of her or his assets so that only one-half the assets are used for nursing home care. This is a generally accepted principle that can be accomplished if one has a power of attorney with a statutory gift rider, or if a guardian is appointed. In either case, the court order may provide that this emergency Medicaid planning can be utilized to preserve your assets for the individual’s family.
Are you in the process of dealing with medicaid? Friedman & Ranzenhofer are experienced Buffalo Medicaid Lawyers that can guide you through the process.
Related Medicaid Videos
- Long-Term Care Insurance
- Nursing Home Costs
- Nursing Home Care Requirements
- Institutionalized Spouse
- Medicaid Look Back Period
- Prepaid Funeral Arrangements
- Qualifying for Medicaid with a 401K or IRA
- Spending Down Assets
- Medicaid Gifting Eligibility
- Gifts to Disabled Children
- Preserving Assets with a Healthcare Proxy/Living Will