Creating a Medicaid Plan

September 06, 2017 by Terry Campbell

For anyone in the middle class, a long term illness can wipe out all assets in a heartbeat.  Hard earned money and a life time savings can be wiped out quickly when faced with monthly bills that can easily exceed $10,000 per month.

If you do not have long term care insurance to pay for such expenses, the middle class will typically only have Medicaid as an option.  Medicaid planning is critical.  Medicaid planning is a legal process that complies with Medicaid rules and structures assets in a way to preserve them.

If you create a Medicaid Plan while you are still healthy there is no need to give away all of your assets to preserve them.

The key is to plan while you are healthy and to not wait until the crisis hits.  Unfortunately, the crisis is usually overwhelming and waiting until the crisis occurs will often deplete your remaining assets and resources.

The rules are confusing and there is much that is misunderstood regarding the Medicaid rules.  For anyone in the middle class, a retirement plan should include a Medicaid Plan that will be in place in your time of need to protect your hard earned assets.

Attorney Terry L. Campbell