Protect Your Assets From the Costs of Long-Term Care
Medicaid annuities have become an important planning tool for families and individuals who wish to protect their resources from the costs associated with nursing homes, elder care facilities and other long-term care. Specialized annuities allow for immediate eligibility for Medicaid, as long as the annuity conforms to provisions within the law. Through qualified annuity investments, people who have too many resources to qualify for Medicaid may still be able to obtain these benefits.
The legal, financial and life-care planning issues confronting families of elderly people facing a transition to nursing home care can be complex and overwhelming. Morris Hall, PLLC, has more than three decades of experience practicing in the legal areas of estate planning and elder law, including a strong emphasis on Medicaid planning for residents of Arizona (Arizona Long Term Care System, or ALTCS) and New Mexico.
Qualified Medicaid Annuities in Arizona and New Mexico
Annuity-based Medicaid planning is crucial for anyone who wishes to protect his or her assets from the costs associated with long-term care. With the use of an annuity that conforms to the appropriate laws, individuals and couples who would otherwise have too many resources to qualify for Medicaid benefits will be eligible. These annuities allow people to reduce excess resources without incurring penalties.
It is important to start early on planning for long-term care. Under federal and state law, the state can look five years into the past to determine whether assets have been removed from a person’s name for the purpose of avoiding long-term care costs. Medicaid planning, if started early, can help an individual preserve his or her assets from the high cost of long-term care.
Experienced Financial Planners
Contact us to arrange a consultation with an experienced lawyer today. Our offices are located in Phoenix, Tucson, Albuquerque and communities throughout Arizona and New Mexico.