Long-Term Care Planning Lawyer in Orlando

Most of us will require long-term care at some point in our lives. And far too many of us are unprepared for the significant financial burden. That’s why, at Sawyer & Sawyer, P.A., we believe thoughtful long-term care planning is crucial.

Dispelling Myths About Long-Term Care

As experienced elder care attorneys, the information we share with clients often surprises them. Some misconceptions we need to clarify include:

  • “I’ll Sign Up for Long-Term Care insurance.” The costs and restrictions that apply to long-term care insurance can make this option impossible for many people depending on their age and /or their financial circumstances.
  • “My long-term care insurance will take care of everything.” Those fortunate few with long-term care coverage are often shocked to learn that the coverage they have might not cover the total costs.
  • “I have to spend everything I own on care expenses before I can receive Medicaid.” Long-term care plans can provide a way to conserve assets while still establishing eligibility for Medicaid
  • “It’s too late to do anything.” While the best options are often available for a limited time, there are always strategies to help manage the cost of long-term care.

Assistance Through Florida Medicaid

The joint state and federal program Florida Medicaid provides funding for long-term care for those who qualify. You must show that you require a certain level of care and that your level of assets and income are low enough to meet government thresholds.

Many people rely on this program to fund their long-term care needs, so the government has enacted strict rules regarding eligibility. You can’t just transfer your assets to a trust or give everything to your children and sign up for Medicaid benefits the next day. 

However, there are ways to legally divest yourself of assets without waste or running afoul of the rules. It is best to start the pre-planning process at least 5 years before you expect to need care, because there are essentially waiting periods that apply if you want to take advantage of the best provisions.  However, we do routinely put together crisis plans to protect assets if an immediate need arises. 

One pre-planning option to conserve your assets without preventing Medicaid eligibility is to establish an irrevocable trust that holds certain assets but may allow you to receive income earned from those assets. We would be happy to discuss planning options that make the most sense in your situation, whether it is pre-planning or crisis planning.

Veterans Assistance

Those who have honorably served our country and their surviving spouses may be eligible to receive supplemental income through the Veterans Administration (VA). The Veterans Pension Program provides a tax-free monthly benefit payment to certain wartime veterans or their surviving spouses who demonstrate financial need.

Our VA-accredited attorneys can help you determine whether you are eligible for this important benefit and assist if problems arise in the application process. VA benefits can be critical for providing needed care and can help bridge the gap prior to receiving Medicaid benefits.

Learn How a Long-Term Care Planning Attorney Could Help Meet Your Care Needs

No one looks forward to the day when they need long-term care. Knowing you and your family are prepared, however, can make that day much easier to face.

At Sawyer & Sawyer, P.A., we want to make a transition to long-term care as easy and economical as possible for your family. We invite you to contact us now to get started with a plan to meet your future needs.