Category Archives: Medicaid Planning
4 Things You Need to Know About Washington State Medicaid Planning for 2024
For many Washington residents aged 65 and older, the cost of receiving long-term nursing home or other institutional care is prohibitively expensive. Medicaid can provide benefits to cover these costs. But there are strict income limits and other eligibility requirements a senior must follow in order to qualify and remain eligible. So if you… Read More »
Understanding Medicaid & Trust Eligibility in Washington
Learn about Medicaid and trust eligibility in Washington State to help secure your future. Our easy-to-understand guide makes navigating these complex topics a breeze for seniors. We will discuss how to qualify for Medicaid, how income and assets affect eligibility, the differences between a trust and a will, and much more. With this knowledge… Read More »
Supplemental Needs Trust for Medicaid Asset Protection
There are several approaches as to how estate planning professionals feel you should safeguard your assets if you receive essential Long-Term Care benefits from Medicaid, but utilizing a living trust should almost never be considered in this scenario. Instead, we might recommend you use a Supplemental Needs Trust which we’ve expanded on later in… Read More »
Considering a Medicaid Asset Protection Trust?
Medicaid Asset Protection Trusts: The Basics When you transfer part of your assets to a Medicaid Asset Protection Trust, you can qualify for Medicaid assistance without losing any of the property or income you’ve likely spent years acquiring. To keep your assets from being counted as a potential penalty against you when you apply… Read More »
Funeral Planning & Medicaid
If you’d like to plan for your own funeral ahead of time so that your family doesn’t have to make your arrangements, one question you should consider is whether or not you may also need to pay in advance. The answer will likely be contingent on your anticipated Medicaid requirements. Overall, it’s usually a… Read More »
What is a Medicaid Spend Down?
For a senior to be able to claim Medicaid long term care, they’re required to meet several key eligibility requirements which includes a need for care with limited resources or income. The various limits differ according to states as well as your marital status, however, there is still a way to qualify for Medicaid… Read More »