Medicaid provides vital medical and long-term care benefits to eligible seniors and disabled individuals. However, the program has strict financial requirements that can be complicated to navigate. This is where an experienced Wilmington Medicaid planning attorney can provide invaluable assistance.

At Donaldson Law Firm, our attorneys assist families throughout Wilmington, North Carolina, with asset protection and Medicaid eligibility. We understand the complexities surrounding Medicaid and help ensure our clients qualify for coverage to pay for long-term care. Contact us today for a consultation.

What is Medicaid Planning?

Medicaid planning refers to the legal strategies used to help applicants meet the program’s strict eligibility requirements. Medicaid has limits on the assets and monthly income applicants can have.

Without proper planning, many middle-class individuals do not qualify for benefits due to exceeding these limits.

A Wilmington Medicaid planning lawyer employs various techniques to help clients qualify for coverage. This can involve spending down excess assets, converting countable resources into exempt assets, gifting assets to family members, and establishing income-only trusts. Proper planning ensures you can pay for long-term care without depleting all your resources.

Why is Medicaid Planning Important?

Medicaid planning is important for several reasons. Medicaid has strict eligibility guidelines that many individuals fail to meet. Proper planning helps applicants qualify for essential coverage.

Additionally, nursing home care averages $7,000-$8,000 per month in North Carolina. Medicaid helps pay these extremely high long-term care costs. When families engage in Medicaid planning, they can protect family assets from being depleted on long-term care expenses.

On the other hand, without planning, transferring assets can create substantial penalties delaying Medicaid eligibility. Overall, by working with an attorney, you gain peace of mind that you can access high-quality care without financial ruin.

It Pays to Have a Medicaid Planning Lawyer on Your Side

The confusing nature of Medicaid eligibility rules makes applying very difficult without professional help.  Medicaid applications are long and require extensive documentation. An attorney ensures no errors delay processing. Attorneys understand which assets Medicaid counts and which they ignore. This allows for maximizing benefits.

Income trusts created by lawyers shield income without affecting eligibility. Lawyers know how to present assets favorably to Medicaid reviewers. Their experience often means quicker approval. Hiring an attorney also means avoiding costly mistakes that could result in delayed eligibility and benefit denials.

Medicaid planning lawyers help you restructure assets, so you qualify for the maximum benefits. They also act as advocates if you receive an unfavorable eligibility determination.

What Does a Wilmington Medicaid Planning Attorney Do?

Our Medicaid planning lawyer works to protect assets and income streams so clients can potentially qualify for Medicaid. We have extensive experience guiding families through this complex process.

Our attorney can:

  • Review your financial situation and make Medicaid planning recommendations
  • Help restructure assets to meet Medicaid eligibility thresholds potentially
  • Create and implement asset protection strategies, such as trusts and annuities
  • Assist with the Medicaid application process and ensure proper documentation
  • Help families comply with rules so applications are not denied
  • Serve as your advocate throughout the Medicaid process

We handle the burdensome application process for you, saving you time and money in the long run.

Medicaid Eligibility Rules in Wilmington, NC

Medicaid eligibility rules focus heavily on assets, income, and North Carolina state residency requirements.

Some key thresholds for 2023 include:

  • Asset limit of $2,000 for an individual, $3,000 for a couple
  • Monthly income limit of $1,215 for an individual, $1,644 for a couple
  • Must be a resident of North Carolina
  • Five-year lookback on asset transfers

Our Medicaid planning attorney stays up-to-date on these eligibility thresholds as they change annually. We are familiar with the latest requirements and can help ensure your application meets the current rules to qualify for benefits.

Do I Need to Plan for Medicaid Now?

It is never too early to discuss Medicaid planning with an attorney, even if you are years away from needing long-term care. Laws change often, so it is best to understand eligibility rules and requirements as far in advance as possible.

Proper planning can also take time to implement. Our attorney can assess your situation and make recommendations to optimize your chances of Medicaid qualification when the time comes to apply for benefits.

Choose an Experienced Wilmington Medicaid Planning Law Firm

At Donaldson Law Firm, our experienced Medicaid planning attorney can help you qualify for long-term care benefits in Wilmington and throughout North Carolina. We have an in-depth understanding of NC Medicaid eligibility rules and will work diligently to protect your assets.

Our firm offers personalized attention, accessibility, and responsive legal guidance. We take the time to understand your unique situation and goals. Our tailored Medicaid asset protection strategies help families plan ahead and potentially shelter assets if long-term care is needed.

Don’t navigate this complicated process alone. Contact Donaldson Law Firm today to discuss your needs. We can help you evaluate options, create customized plans, and apply for Medicaid benefits.