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Medicaid Planning Pros & Cons

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Medicaid Planning Pros & Cons

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  1. MEDICAID PLANNING: PROS & CONS

  2. PROS They create trusts, manage asset transfers, and convert countable assets into exempt assets to ensure eligibility and preserve a family's resources. They can also protect a family home from Medicaid recovery. CONS The main disadvantage is that once your assets have been transferred into the trust you no longer have any control over them.

  3. WHY COUNT ON A PROFESSIONAL ATTORNEY • Save Expenses • No Conflict of Interest • Gain Trust • Valid Qualifications & Experience

  4. WHO IS THE RIGHT PERSON ELIGIBLE FOR WISCONSIN MEDICAID? 02 01 If the person is blind Pregnant women In case the person is 65 years of age or older Responsible for a child 18 years of age or even younger 04 03 A person must have a disability or a family member in the household with a disability 05

  5. SOME POINTS WHICH YOU MUST KNOW ABOUT MEDICAID PLANNING IN WISCONSIN IF YOU WANT TO QUALIFY FOR MEDICAID, THEN YOU MAY ONLY HAVE $2,000 OF COUNTABLE ASSETS. THE COUNTABLE ASSETS INCLUDE EVERYTHING EXCEPT THE FOLLOWING • The home you live in • One car if a married couple • A funeral arrangement • Household goods & furnishings

  6. Medicaid planning entails too many dangers, you should not make this decision on your own; instead, you should consult a skilled Wisconsin Medicaid Planning.

  7. CONTACT INFORMATION (262) 812-6262 paralegal@elcwi.com www.elderlawcenterofwisconsin.com

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