Medicaid planning is not just important to ensure you can qualify for coverage when you need care, but is also vital to protect your heirs or beneficiaries from the loss of their inheritance. If you receive Medicaid benefits when you are 55 or older and/or if you receive Medicaid benefits for long-term care services, federal law says that the state Medicaid program which provided you with benefits can try to recover the value of the benefits from your estate.
In other words, Medicaid can make claims on your estate during the probate process to try to take assets, including property under certain circumstances, so the state can be repaid for money spent on you care. There are strict rules for Medicaid estate recovery, but it still often leads to the loss of important assets which should be passed down to the next generation.
Medicaid attorneys can help to protect you from losing your wealth to Medicaid estate recovery. Nirenstein, Horowitz & Associates will work with you to keep your assets safe both during your life and after your death. Give us a call at 860-548-1000 to find out more about how elder law and Medicaid attorneys can assist you.