Medicaid plays an important role in providing financial assistance to those who need it most. However, the limits the program places on your income and value of assets is extremely low. Most people cannot have more than $2,000 in assets. Even though certain items, like your home, are excluded, this threshold is still very difficult for many people to meet.

If your need for Medicaid is not urgent, it may be possible to gift some of your assets to relatives or other people you trust in order to meet Medicaid’s asset limits in the future. However, the government can penalize you for spending down assets within five years of seeking Medicaid benefits.

If you need Medicaid benefits immediately, we can help. What’s most important is you don’t do it alone. Our lawyers and the professionals at our law firm have the skills and experience to help guide you through the Medicaid application process to get it done right.

As with all plans, preparation is key. Remember that even the most thoughtfully designed plan may go through changes and requires regular maintenance. Ensure you work closely with your estate planning attorney to keep them up to date with any changes as or before they arise to ensure you are aways one step ahead of any surprises.