Talking To Aging Parents About Creating A Medicaid Trust In Clearwater

After spending much of their lives looking out for your health and safety, your parents may reach a point where they need your help looking out for their own. The impacts of aging are difficult to deal with, particularly if your parents are not well-prepared.

Our Clearwater Medicaid attorney has over 40 years of experience helping clients in our community and is one of only a handful of certified elder law attorneys in Florida. Find out what a Medicaid trust is, how it protects older adults and tips for bringing up the topic with aging parents.

The Benefits of Medicaid For Older Adults In Clearwater

Your parents made sure you were provided for and protected growing up. As they age, the tables may turn. They may have already reached the point where age-related declines and chronic health conditions limit their abilities. When it comes to protecting their safety and meeting daily needs, they may require additional help.

The demands of having a family and career may prevent you from being as active as you want in providing for their needs. This is where Medicaid can help. It is a federally-funded program that helps people get the quality care and services they need. This is especially for older adults and covers the cost of the following:

• Visiting nurses and home health aides;
• Meal delivery and transportation to medical appointments;
• Dental care and coverage of prescription drug costs;
• Nursing homes or other long-term care.

Medicaid is available for people over 65 who fall within income guidelines. If your parents own property, have savings, or receive pensions, they are likely ineligible. This is where a Medicaid trust can help. Transferring ownership of assets into a trust can help your parents meet Medicaid income guidelines.

Talking To Aging Parents About Medicaid Planning In Clearwater

Medicaid planning plays a vital role in helping older adults protect their assets while getting the medical care and support services they need. However, as it may involve transferring ownership of their property and assets, they may need some convincing. Our Clearwater Medicaid attorney offers these tips:

• Pick the right time, ensuring your parents are relaxed, not tired, in pain, or feeling defensive.
• Emphasize that you want the best for them and are looking out for their best interests;
• Explain how a Medicaid planning preserves their assets while offsetting long-term care costs, which the Florida Health Care Association states can run as much as $100,000 or more per year;
• Refer them to our experienced Clearwater Medicaid attorney, who can answer specific questions while explaining more about how Medicaid planning works.

Schedule A Consultation With Our Clearwater Medicaid Attorney Today

Medicaid planning helps protect older adults, preserving their assets while offsetting future long-term care costs. To find out more about the benefits and your options, contact Clearwater Medicaid attorney William Rambaum.

As a Board Certified Elder Law Attorney, he provides the comprehensive support and legal services needed at this stage of their lives. Give us a call or reach out online and schedule a consultation today.

Source:

medicaid.gov/medicaid/benefits/index.html