Elder law is a broad area of law which actually provides helpful tools that people of all ages can use to protect themselves and their families. Medicaid services are some of the services elder law attorneys provide, but there is so much that elder law attorneys do. If you want to achieve financial security, protect your assets, control your medical autonomy, and protect your loved ones, you need to talk with an elder law attorney.
Pyke & Associates, P.C. provides comprehensive elder law services and Medicaid services. When you contact us, a member of our experienced legal team can offer you guidance and advice that is designed with your specific needs in mind. Our Atlanta elder law attorneys can also provide answers to some of the general questions you may have including:
- Who should get elder law help?
- What are Medicaid services and why do I need a Medicaid plan?
- How can an Atlanta elder law attorney help you?
Who Should Get Elder Law Help?
Senior citizens, of course, should get elder law help because this field of law is designed to help people address issues that arise due to aging. Elder law also provides the tools needed to deal with end-of-life issues. For example, seniors may be concerned about making their retirement nest egg last, about what the rules are for taking money out of 401(K)s and about what will happen to their assets after their death. Many seniors also worry about how they will pay for a nursing home if they need care, and about what will happen if they suffer an illness or injury and need emergency medical services.
With tools like a power of attorney to name an agent in case of incapacity; wills and trusts for estate planning; and trusts for asset protection, seniors can get the help they need within the field of elder law.
However, seniors are not the only ones who need to address incapacity, estate planning, and asset protection. Anyone, young or old, could find themselves facing a terminal illness or a medical emergency. Without an incapacity plan, a family could be forced to pull the plug or could be left fighting over medical decisions. Even getting control of assets to manage money and property in case of incapacity could be a major challenge.
Because life is uncertain and you never know if something will happen to you, talking with an elder law attorney as soon as possible is a smart choice for anyone without an estate plan, incapacity plan, and asset protection plan. Pyke & Associates, P.C. can help you to protect yourself and your loved ones in case the worst happens – but we can also help you to set and achieve retirement saving goals and to plan for a positive future.
What are Medicaid Services and Why Do I Need a Medicaid Plan?
When you get help from an elder law attorney, one of the services you will likely receive is Medicaid planning. Medicaid is, for most people, the only source of insurance coverage for a nursing home. Medicare and private insurance pays for a nursing home only if you need to get care for a limited period due to a need for skilled medical services, like bandages being changed after surgery. For normal daily care, you won’t have coverage from insurance.
Since Medicaid is the only source of coverage for nursing home care, you’ll either need to qualify for Medicaid or pay out of pocket. If you have any significant assets, unfortunately you cannot qualify for Medicaid. This is because Medicaid is means-tested and limited to people with few resources.
A Medicaid plan, however, allows you to structure asset ownership so the property or money that you own doesn’t count for qualification purposes. You can protect your wealth by transferring assets into an irrevocable trust. If this is done at least five years before nursing home care is needed, you should qualify for Medicaid nursing home coverage right away. Medicaid services thus let you protect all you have worked for over your lifetime.
How can an Atlanta Elder Law Attorney Help You?
Pyke & Associates, P.C. provides invaluable assistance with elder law matters to clients in Atlanta, Peachtree City, Stockbridge, and surrounding locales throughout Georgia. Whether you are young or old, you can benefit by reaching out to our Atlanta elder law attorneys for assistance. Give us a call today at 770-507-2500 or contact us online to find out more about the ways in which our legal team can help you.