To work all your life and scrimp and save every penny possible only to pay it all to a nursing home is pretty sad. While no one expects free handouts, we also do not expect to have all our hard earned money be spent in the few remaining years of our life. But unfortunately this happens all the time and unless you take steps now, it may likely happen to you as well. This is the one area of law where long term planning is so critical since many of the laws relating to government benefits including Medicaid, for instance, have asset transfer “look back” requirements extending as far back as five years. So you really need to plan well in advance if your intent is to preserve your assets and still qualify for these benefits. Also, recent changes in the law have now limited the amount of income a person can have in order to qualify for Medicaid necessitating the creation of a Qualified Income Trust (commonly known as a Miller Trust). Our law firm is well aware of these changes and can help you preserve your assets and plan for these critical government benefits – we have been doing so for over 25 years! If you are concerned about your financial future, call us. . . we can help.
Note: If you are applying for Medicaid or some other “means’ tested government benefit and need a Qualified Income Trust (a/k/a a Miller Trust) set up, you can have this done at your convenience and at a very reasonable fixed fee through our on-line legal service. We would encourage you to take a look. If, on the other hand, your estate plan is more complex and involves more than just setting up a Miller Trust, we can certainly help and in most cases quote you a fixed fee as well. Just call our office. Please keep in mind that if you try our on-line legal service and you find that will not work for you, don’t worry, any money you paid will be credited to you if you elect to retain us in the “traditional” manner. So don’t put off planning for your future – we make it pretty painless!