Why You Should Use A Certified Elder Law Attorney For Medicaid Planning

Medicaid authority This month I want to told them that they make two points: Why needed to start planMedicaid planning is ning immediately to important, and why a preserve assets. The Certified Elder Law initial fee: $6,600. Attorney is the go-to When I examined their professional for the job. situation, it was clear The need for Medicaid t h a t t h e m o t h e r s planning is easy to prognosis was still demonstrate. Consider fuzzy: If she improved, the numbers: According t o t h e 2 0 1 0 M e t l i f e Joseph S. Karp, C.E.L.A. Medicare would pick up rehab costs; if she survey of long term care costs, the national average daily rate did not, Hospice would be advisable. for a private room is $229; semi-pri- Hence, there was no need to rush to vate, $205. The numbers in South do anything. Sadly, Mom died three weeks later. These folks never paid Florida are even steeper. All of us hope well never require me a dime beyond their initial connursing care and never have to sultation fee. Had the children confront these frightening numbers. f o l l o w e d t h e o t h e r c o m p a n y s But its a statistical fact that many advice, there would have been tax will. Medicare will not pick up the consequences of $60,000 in addition costs, so if you are not wealthy or to their $6,600 fee. Second story: I met with a woman lack adequate long term care insurance, your financial goose is just whose husband, a veteran, had just about cooked. Youll likely lose entered a long-term care facility. everything to nursing home costs. A non-lawyer had advised her to If youre married, your spouse will transfer a large sum from one account to another. I showed her that be left with little to survive on. doing so would be an enormous blunder, costing Listen to Joe Karp and Anita Finley her more in tax conseon Saturday, July 9 from 7:30-8:00 AM quences than she would on WSBR 740AM and on the save. The non-lawyer had Internet at www.wsbrradio.com. also brought in another Why is it prudent to consult a person who was going to charge her Certified Elder Law Attorney when to complete a Veterans benefits you need to apply for Medicaid application. I informed her that benefits? There are, after all, non- except under certain special circumlawyers who advertise that they can stances, federal law prohibits chargdo the same job. But therein is the ing a fee to apply for VA benefits. answer. They dont do the same Once she understood the situation job. A Florida Certified Elder Law she recognized that I could provide Attorney is intimately familiar with more tax-efficient Medicaid planning. A Florida Certified Elder Law the complex laws. He/she will consider all aspects of your situation Attorney is the way to go. finances, family, the health status Joseph S. Karp is a nationally certified of your loved oneand make the and Florida Bar-certified elder law attorney best recommendations for you. Not (C.E.L.A.) specializing in the practice of everyone is a candidate for Medicaid Trusts, Estates and Elder Law. His offices are located at 2500 Quantum benefits. To illustrate, here are two true Lakes Drive, Boynton Beach (561) 752-4550; 2875 PGA Blvd., Palm Beach Gardens stories I heard from clients this (561) 625-1100; and 1100 SW St. Lucie W. month, both of whom spoke to non- Blvd., Port St. Lucie (772) 343-8411. lawyer Medicaid planners before Toll-free from anywhere: 800-893-9911. coming to me. E-mail: KLF@Karplaw.com or website Three children consulted with me www.karplaw.com. about their 90-year-old mother who Read The Florida Elder Law and Estate had suffered a stroke two days ago Planning Blog at and was hospitalized. A so-called www.karplaw.blogspot.com.

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