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Satsuma, AL Medicaid Planning Lawyers

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For most seniors, the last thing they want to do in the latter half of their life is become a burden to their family. But if they aren’t able to cover the cost of nursing home care, it may very well be their reality. Even if they do have the funds to pay for their care, they may severely deplete the inheritances they planned to leave behind to their loved ones.

Medicaid, a public benefits program, will cover nursing home expenses, but is restricted by income, so not everyone will qualify.

That’s why it is imperative that you begin the Medicaid planning process as soon as possible, so that you can have confidence in your future. Our skilled Satsuma Medicaid planning lawyers have been helping South Alabama residents utilize a variety of legal tools to qualify for nearly 30 years. We make the process as easy as possible and give you peace of mind that everything you’ve worked hard for throughout your life will be protected! Call today to book a free phone consultation and learn more about how we can serve you.

Satsuma Medicaid Planning Lawyers

Long-Term Care Costs Can Quickly Eat Away At Your Life Savings!

It’s important to know the difference between nursing homes and assisted living facilities – they’re not the same thing! The price tag for each is also significantly distinct. The cost for a semi-private and private room in a nursing home in Alabama will vary depending on what area of the state it’s in, but generally range from $3,500 to $8,000 a month. This is almost double the cost of an assisted living facility and could be financially devastating to most Americans, but especially to those who are on a fixed income.

Because most private insurances won’t cover these expenses, either you or your loved ones will be responsible for paying out-of-pocket. Let’s be honest – neither of these situations is ideal, which is why it’s important that you are able to qualify for Medicaid coverage when you need it. Our skilled Satsuma Medicaid planning lawyers can help you take the necessary steps to make this happen and ensure that the final decades of your life aren’t stressful to you or your family!

Our Satsuma Medicaid Planning Lawyers Help You Protect Your Assets And Qualify For Coverage

Even if you exceed the income limitations now, there are several strategies that can be utilized to make sure that you are able to qualify for Medicaid coverage, while maintaining control of your assets. These strategies typically come in the form of special trusts that won’t be counted when the government digs into your finances.

The reason this must be “planned” in advance is that when the government does conduct their review of your finances, they won’t just be looking at recent major transactions, but every transaction from the last five years. This is why simply gifting your money to your children or spending it down are not valid options.

Our Satsuma Medicaid planning lawyers may recommend one of the following strategies based on your circumstances:

  • Creating A Qualified Income Trust – an irrevocable trust where your income is deposited and controlled by your chosen trustee
  • Creating A Pooled Income Trust – an irrevocable trust where surplus income is deposited
  • Creating An Asset Protection Trust – a trust where all of your assets are transferred in order to remove them from your estate entirely
  • Spousal transfer – transferring all of your assets out of your name and to the name of your spouse
  • And More!

Call Today To Get Started!

If you don’t want to spend away your life savings on long-term care costs, and you don’t want those you love most footing the bill either, then it’s time to take the necessary steps to avoid it and plan to qualify for Medicaid instead. Our dedicated Satsuma Medicaid planning lawyers will sit down and get to know you and your family, get a better picture of your goals, and address your concerns and questions. Our services and strategies will always be tailored to your unique situation, never a “copy-and-paste” solution. Call today to book your free phone consultation and discover your options.

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Satsuma, AL Practice Areas

The Ladd Firm is an asset for individuals who need assistance with estate planning. They are truly concerned with what is best for their clients and take the time to understand the situation and tailor the options for the best outcome.

David J.

The Ladd legal firm is a very personal and professional legal firm. The service we received was complete and their patience with explaining the process of establishing a family trust made us completely comfortable. We are amazingly comfortable recommending them to anyone wishing to set-up a family trust.

Dan K.

The LADD Firm

Why Choose Us?

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50+ Years Of Combined Experience

Plans Start At $1000!

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(251) 431-6014