[Estate Planning & Asset Protection]
Money cannot make you happy, but it can make you more comfortable. It is my goal to create long-term care plans that help my clients maintain quality of life and still access quality care. The more money you have and the longer you can make it last, the higher likelihood of maintaining quality of life.
In the arena of elderly law or as elderly lawyers – lawyers and advisors to the elderly – when we are fortunate enough to be able to assist during a pre-planning situation (pre-nursing home admission), then we can utilize the use of asset protection trusts and financial assessment leveraging tools.
During a crisis situation (admission to a nursing home), we consider the traditional asset protection tools and government assistance benefits, such as VA Benefits and Medicaid benefits. For married couples, even during a crisis, we can often save 100% of the couple’s assets and obtain Medicaid benefits within 90 days. For single individuals, protection is more limited but still an option using Medicaid laws.
Without planning, asset protection is difficult.
In emergency situations, assets will often be depleted rapidly on care, until they are gone. At that time, limited options are available. Thus, the best time to seek guidance is as soon as there is a noticeable decline in either physical or cognitive ability.
Call The Elder & Disability Law Firm of Victoria L. Collier, PC for a free 15 minute telephone consultation to see how we can best serve you.