Have you taken the proper steps to protect your assets?

Are you aware that you can avoid becoming nursing home impoverished?

Are you aware of the benefits that may be available to Veterans and their family?

Contact us to arrange for a free consultation.

Practice

Below is a list of the areas
we practice in.

Medicaid Planning Attorney in Tarpon Springs

The Medicaid program offered by the state of Florida is not a welfare program but an entitlement program.  Medicaid is included under Title XXI of the Social Security Act and is intended to pay for your nursing home care.  In Florida, Medicaid is a means tested program, meaning that there are certain assets and income limits that you have to meet in order to qualify.  There is a way to arrange your assets and income to meet those guidelines and qualify for those benefits. 

The applicant/recipient or the person who must be placed in a nursing home may only have to $2,000.00 in assets, excluding certain exempt assets that the state of Florida allows.  This is a Florida specific requirement.  There is also an income cap that is adjusted each year.  If the applicant’s income exceeds the income limit it does not necessarily mean that you are ineligible for benefits.  A Medicaid Planning attorney can prepare a document that would accept the excess money which would eventually be paid to the nursing home as part of the patient’s share.  This document allows an individual who exceeds the income limit to qualify for Medicaid benefits. 

The asset test which is referred to above allows you to own your homestead exempt property, one automobile, and a prepaid burial contract.  Florida also allows us to exclude IRAs and 401K’s but there are exceptions and conditions that must be met in order for these rules to apply.  If your asset level is too high there are numerous strategies available in which to redistribute or transfer those assets so that the applicant is entitled to receive Medicaid benefits.  There are also insurance products available that allow us to re-categorize money that you might think you would have to spend on your nursing home care and re-categorize it where it is no longer considered an asset.  The asset is converted to income.  It is important to note that the well spouse or at-home spouse may have unlimited income. 


One of the most common misconceptions about Medicaid is the look back period.  Most people believe that they must spend down their assets before they can qualify for Medicaid benefits.  The strategies that we employ are designed to circumvent the look back period.  These are perfectly legal strategies and the state of Florida is well aware of the planning that is being done in order to qualify an individual for benefits.  If the proper planning is conducted then the look back period never becomes an issue.

The look back period becomes an issue usually due to action taken by an applicant before they consult with our firm.  This involves transferring an asset to a relative or friend without first consulting a Medicaid planning attorney, or it may involve adding another person’s name to a deed or property that you own before consulting with a specialist in this area.  Many times it involves gifting of assets which will be subject to the look back period and will cause the applicant to have to spend down a portion of their assets depending on the size of the gift and the frequency that they were made.

Our Tarpon Springs firm offers a free consultation which allows us to analyze your particular situation and design a preplan that you may employ if you so desire. If you are already at a stage where nursing home care is imminent we can immediately begin the planning process to properly position your assets so that we can save you as much as possible.

We urge you to call our offices at (727) 937-3111 and schedule a free consultation to discuss your needs. We are conveniently located in Tarpon Springs, Florida, just outside Oldsmar, Palm Harbor, New Port Richey, Port Richey, Hudson, and more. This will not cost you any
money but will involve only a small investment of your time.