Medicaid Crisis Planning in Louisiana
A Medicaid crisis is defined as when a person has already been admitted to a nursing home, or will be placed in one in the near future, and they have been informed that they have too many assets to qualify for Medicaid. Unfortunately, many families are told they have to spend-down all of their assets prior to qualifying for Medicaid nursing home benefits. This is not the case as federal and state laws provide many options to protect assets from nursing home spend-down. If you or a family member is facing a Medicaid crisis, contact Metairie Elder Law attorney John Sirois today at 985-580-2520 to learn how we can help you. We can show you many techniques to help preserve your hard- earned savings while qualifying for Medicaid.
Non-Crisis Medicaid Planning
Non-Crisis Medicaid planning is recommended for those who are currently do not need long-term care but wish to adequately plan to protect their life savings should they need care in a nursing home at some point in the future. If you have assets worth protecting, you should plan well in advance for the possibility of an extended long-term care need. If you intend to transfer (give away) your assets to qualify for Medicaid, transfers within five years of applying for Medicaid will result in a penalty period. During the penalty period, Medicaid will not pay for nursing home expense. You should not attempt any gifting plan unless you consult with an elder law attorney.
Contact John E. Sirois, Houma-Thibodaux Elder Law and Medicaid Long Term Care Attorney, at 985-580-2520 to learn how you can legally protect your assets from nursing home spend-down or to set up an appointment.
Click here to download John’s Long-Term Care and Medicaid Planning Checklist.
Read John’s book, Louisiana Retirement and Estate Planning, for more information about long-term care and Louisiana Medicaid planning.
Louisiana Medicaid Long-Term Care planning lawyer, John Sirois works with clients throughout Louisiana including Lafourche, Terrebonne, Jefferson, St. Charles, New Orleans and surrounding areas.