Medicaid in Ann Arbor, MI
Long-term care in Michigan can costs over $13t0,000 a year, an overwhelming out-of-pocket expense for most seniors. If you or a loved one are facing long-term care costs, our team at the Bassett Murray Law Group, PLLC, can help with Medicaid planning and protecting your assets. Call us at 734-930-9200 to consult our elder law attorneys in Ann Arbor, MI.
Why Plan for Medicaid?
While you may count on Medicaid to step in and cover nursing home care, you should know that Medicaid imposes strict asset requirements on applicants—typically, a single person may own up to $2,000 and a married couple up to $3,000 in non-exempt assets.
Placing property in an irrevocable trust can help you qualify for Medicaid while preserving your assets if done in advance. However, Medicaid’s lookback period for asset transfers in Michigan is five years. Any transfers that took place within five years prior to your application may incur heavy penalties.
That’s why it’s always advisable to start planning for Medicaid long before you expect to need long-term care. But what if you hadn’t prepared for a health crisis and must fund long-term care right now? A Medicaid crisis planning lawyer can help you apply for Medicaid fast and shield your property.
What to Do in a Medicaid Crisis
If you need long-term care due to an unexpected health crisis, you may think, “I haven’t planned for Medicaid. Now I have no choice but to spend down my assets until I qualify for assistance.”
Please know that while Medicaid crisis planning may be complex, it still can be done if you:
- Contact a qualified elder law attorney as soon as possible.
- Work with a trusted Medicaid lawyer to restructure your assets and avoid or minimize any penalties
- Avoid risky moves like transferring property to your children.
How an Elder Lawyer Can Help You in a Health Crisis
Depending on your situation, an elder lawyer may help you:
- Speed up your application process so that you qualify for Medicaid benefits as soon as possible
- Take advantage of lesser known programs that may help individuals with long-term care needs to stay in their homes rather than move to a facility
- Use a power of attorney document to enable your spouse or adult child to access any supporting documentation for Medicaid if necessary
- Set up a private Medicaid-compliant annuity that you can use to fund long-term care
- Create a dependable caregiver agreement with a trusted relative or friend
- Protect the family home from Medicaid claims
- Use probate court procedures to shift assets between spouses
- Establish special trusts for a spouse or disabled person
- Create a financial safety net for the healthy spouse
Bassett Murray Law Group, PLLC: Elder Law and Medicaid Planning Lawyers in Ann Arbor, MI
If you, your spouse, or your parent is concerned about future care or needs urgent long-term care funding in Michigan but haven’t planned for Medicaid, contact us at the Bassett Murray Law Group. Our elder law firm has over 25 years of experience in Medicaid crisis planning and helping seniors and their families protect assets.
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Get to know us better by scheduling an initial consultation where we can discuss your needs.