The possibility of a catastrophic injury or illness requiring long-term care in a nursing home facility is one of the most significant financial threats you may face. As you get older, the potential need for a long-term care facility becomes greater. The average cost of care in a long-term facility in Georgia can range from $4,000 to $8,000 per month. In Florida, the range is between $5,000 and $9,000. A typical need for long-term care services is three years.
That means a lengthy illness can erode much-needed retirement savings, leaving nothing to provide for spouses, children, or grandchildren. Changes in Medicaid laws have made it increasingly difficult to pay for long-term care while preserving assets. At Moody Law Firm, LLC, we work with families who are concerned about or facing catastrophic illnesses or injuries to ensure that they receive the care that they need without losing their hard-earned property and assets.
Proactive Medicaid Planning in Georgia and Florida
Medicaid is a federal and state program, and the complex rules vary from state to state. Some families worry that they don’t meet the household income level to qualify for care. Moody Law Firm, LLC understands Georgia and Florida Medicaid laws, how to qualify quickly, and get the most out of your benefits. We create a Medicaid asset protection trust to legally reduce countable assets before the potential need for long-term care. By transferring specific assets and property into a trust, you protect them from the high cost of different healthcare services and minimize the effect medical expenses have on your home and savings. To do this effectively, we must account for Medicaid’s five-year lookback period to avoid penalties.
After reviewing your available resources, we can help you determine whether government benefits are the right choice to offset costs. We guide you through Georgia or Florida Medicaid’s complex eligibility requirements and application process to ensure benefits are ready when you need them.
Medicaid Crisis Planning in Georgia and Florida
Sometimes people wait too long to discuss the potential need for Medicaid benefits, reducing their options for long-term care and leaving them responsible for a large portion of expenses. If you are already in a medical emergency where a loved one is being moved to a nursing home facility, we can still help. Because we’re experienced with Medicaid laws and application processes, we make sure your benefits arrive as quickly as possible. We evaluate your current financial resources and find alternative solutions until that happens. Working with Moody Law Firm, LLC relieves stress and uncertainty at a very challenging time.
At Moody Law Firm, LLC, Walt Moody understands your concerns from personal experience and is driven to help you protect assets, reduce estate taxes, avoid probate, or settle an estate successfully. Having been seriously injured in a car crash in college, Walt understands the importance of being prepared for life-changing events. He applies this knowledge to the areas of elder law and estate planning when helping clients with emotional and complex issues, such as establishing trusts to provide for a special needs child or disabled loved one. Contact us to learn more about estate planning tools and for support and guidance with federal, Georgia, and Florida state laws.
Trust us to put our vast resources and experience to work for you! Secure your future by contacting us today!