To start with, you should know that Medicaid planning generally falls into the category of New Jersey Elder Law. Elder law is a subset of Estate Planning and a vital part of it. As experienced Ocean County estate planning attorneys, the Law Offices of DiFrancia & Price P.C. recognizes the impact that Medicaid planning has on our aging population.
Why is Medicaid planning so crucial? Many only associate Medicaid with the destitute. However, the high costs related to long-term care have contributed to the awareness of thoughtful and strategical planning in this field. It is a sad truth that many of us are caught unprepared when the situation changes, and we need to deplete assets to ensure proper care for ourselves or our loved ones. Medicaid planning is intended to make the cost for nursing homes and assisted living a reality.
Medicaid planning helps those who worked hard and saved but cannot afford the astronomical price tags associated with long-term care. Most often, these individuals are considered middle class. They never qualified or wanted to take advantage of benefits afforded to low-income families. However, now that it is time to find a nursing home facility, there are not enough available funds.
How New Jersey Medicaid Planning Lawyers Help
Our Ocean County Medicaid planning lawyers have a proven track of guiding our clients and their caregivers to ensure their financial and legal decisions are made in accordance with New Jersey law. Most often, you will find yourself overwhelmed, which will necessitate professional help and guidance to fully understand how the Medicaid program works. This should be done before it becomes necessary to make a formal application.