Virginia Medicaid may be one important way for you to be able to cover the bills associated with nursing home care, but many people have misconceptions about how this program works and how best to understand it.
This means you need to have an experienced and qualified lawyer to guide you through the process of estate planning as well as Medicaid planning. These common mistakes could block you from getting the benefits that you need from Medicaid support, and they include:
- Giving away assets too early and putting your security at risk.
- Failing to take advantage of any benefits for the spouse of a nursing home resident.
- Ignoring safe harbors created by Congress which allow for certain transfers without jeopardizing Medicaid eligibility.
- Assuming it’s too late to plan for Medicaid.
- Applying for Medicaid too early, leading to a longer ineligibility period.
- Applying for Medicaid too late, which could mean losing many months of eligibility.
- Not understanding how using Medicaid could affect your home since nursing home residents do not automatically have to put their home on the market in order to qualify for Medicaid.
All of these issues highlight the importance of contacting an experienced and qualified Virginia Beach estate planning attorney to help you with the process of understanding the possibility of Medicaid and how best to plan ahead for it should you need to use Medicaid benefits in the future.
If you have a loved one who needs Medicaid benefits, scheduling a time to talk with an elder lawyer is a great first step to help you with that process. Don’t wait to speak with a professional who can guide you through getting support for your legal claim.