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Virginia Beach Estate Planning Lawyer / Virginia Beach Crisis Planning Lawyer

Virginia Beach Crisis Planning Lawyer

Helping Families Take Immediate Steps to Cover Nursing Home Costs While Protecting Valuable Family Assets

As much as we urge everyone to consider the need for long-term care in their future, whether in a nursing home, assisted living facility, or at home with the aid of a professional caregiver, we know that a certain percentage of people will reach the brink of admission to a nursing home without preparing to deal with the cost. While this situation is not ideal – it is, in fact, a “crisis” – that does not mean there is no hope. The elder law and Medicaid planning attorneys at The Law Office of Angela N. Manz can step in with advice and professional assistance, offering a number of strategies to get you the care you need without becoming impoverished in the process. Contact our experienced and dedicated Virginia Beach crisis planning lawyers today.

What Is Crisis Planning?

Nursing home costs currently range from $8,000-$12,000 per month in Virginia. That’s up to $108,000 per year, putting quality care out of reach for most Virginia families. An assisted living facility will cost nearly half that much, and a home health aide may cost even more. One way to help afford a nursing home is through long-term care insurance, but if you don’t already have insurance in place, you’ll find it impossible to secure or too expensive to afford if you are about to be admitted to a nursing home. (If you are employed, it’s worth checking to see if you have long-term care insurance through work. It might be a benefit provided to you that you didn’t know you had.)

Medicaid is a government healthcare program that covers many forms of medical care, including a long-term stay in a nursing home. Medicaid is typically reserved for people with lower income and few assets. However, we are able to protect your assets from being spent down on long term care until you are eligible. Instead, we can help you have the best of both worlds: protection of your hard-earned assets and government assistance to pay for your long term care.

We can help you protect your assets in one of two ways: proactive planning or crisis planning. If we have several years before long term care is needed, then we can be proactive and plan for asset protection and Medicaid eligibility. This is the ideal situation, but life is often less than ideal, and we can help in times of crisis. Crisis planning refers to the set of strategies available to people who did not do advance planning and are about to enter a nursing home or have already been admitted. We are still often able to protect a significant portion of your hard-earned assets for you and your family. You do not have to spend all your money at the nursing home. That is a myth and we want you to know that there is help for you during this difficult time.

How The Law Office of Angela N. Manz Can Help

We help people every day protect their hard-earned assets and still qualify for Medicaid while engaging in thoughtful, strategic estate planning. If you are in crisis, we’ll step in immediately to assess your situation and establish a pathway toward Medicaid eligibility as quickly as possible. We’ll help ensure you shelter as much of your assets as possible and that you meet the eligibility requirements. We will guide you through a successful application process, and we’ll work to keep you or your loved one receiving the care they need in the interim.

The consequence of trying to deal with a Medicaid process on your own is that you could end up making mistakes that penalize you by delaying Medicaid eligibility for months or years beyond what it could have been. Some of the most common mistakes people make are:

  • Not knowing how and when they can properly shelter assets
  • Completing their paperwork incorrectly, delaying their approval date
  • Transferring assets improperly

The government scrutinizes asset transfers in the period leading up to a Medicaid application. Virginia’s Medicaid program evaluates transfers made in the last five years (the “lookback period”). Some transfers are permitted, while others aren’t. If the government does not permit the transfer, then they’ll impose a penalty that delays your eligibility to start receiving benefits. During the penalty period, Medicaid does not pay for any nursing home care which means the family is responsible for those costs. It is critical that you talk with a qualified Medicaid attorney to know what your rights are and how to best shelter and protect everything you have worked for and obtain Medicaid benefits to pay for your long term care.

Contact The Law Office of Angela N. Manz for Help With Crisis Planning in Virginia Beach

Crisis planning is not just time-sensitive but time-critical; every day that passes reduces the options available and extends the time you are paying out of pocket for the exorbitant costs of nursing home care. Let The Law Office of Angela N. Manz step in, assess your situation, and make a plan. Call our office now at 757-271-6275 for immediate assistance.

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