Medicaid Planning Attorney | Winter Park
At some point in the future, you or a loved one could fall ill to a serious medical condition. Preparing for that likelihood means to protect your assets from the high costs of long-term or intensive care. Aubrey Harry Ducker Jr. is a Winter Park Medicaid planning attorney who serves clients with long-term planning. Attorney Aubrey Harry Ducker Jr.’s estate planning services include creating a durable power of attorney. Additionally, he provides Medicaid planning and assistance, drafting wills, and more.
Protect Your Assets With Medicaid Planning
Unfortunately, many people assume that Medicaid is only for the working poor. In fact, millions of senior citizens qualify for Medicaid to assist them with their long-term care. This includes assisted living or nursing home care. Medicaid is a federal health care program provides assistance to senior citizens and adults with disabilities. They require a special home or living care. You’ve worked your whole life to save up for retirement and have paid into Medicaid taxes. The average American cannot afford even a few years of nursing home care when they reach their late 70s or 80s. The average cost of a nursing home in Florida is over $91,000 per year. However, with careful Medicaid planning with your attorney, you can save hundreds of thousands of dollars. You can create a special healthcare trust that protects your assets. This will allow you to take advantage of high-quality health care and living assistance for years to come. Even if you haven’t reached the age to be in a nursing home, we encourage our clients to start planning at least three to five years out. Our attorneys are proficient at answering questions and relaying all of the relevant information that you need.
Your Health Care Plan for The Future
Qualifying for Medicaid can be a time-consuming, complicated process. Professionals analyze your income, savings, assets, and more before deeming you eligible. Unfortunately, some people assume that they can attempt to make themselves less wealthy by giving large gifts to spouses or family members. The Medicaid administration will see through this. Additionally, you may be stuck with increasingly higher taxes if you give large amounts of money away as gifts. According to the Internal Revenue Service, $14,000 and $15,000 are the maximum allowable non-taxed gift amounts for 2017 and 2018, respectively. The Administration looks at the past three years when determining your eligibility. This is why advanced planning is essential. Attorney Aubrey Harry Ducker Jr. will help you maximize your assets and health care needs.