Our dedicated team of estate planning attorneys at Kitzke & Canfield LLC often receive calls from clients and their loved ones because they are concerned about Medicaid planning. The most common question we are asked regarding this topic is, “When is it the right time for a person to start Medicaid planning?” Keep reading to find why there is no time like the present to take care of your Medicaid planning needs.
Five-Year Look-Back Period
Qualifying for Medicaid can be very complicated. For one, there is a five-year look-back period that Medicaid applicants must go through before they can be approved for benefits. Because applicants must have limited income and assets to be eligible for Medicaid, the federal government uses the look-back period to review each case and make sure the applicant hasn’t attempted to give away money and other sources of income in order to qualify. Any transactions that violate the look-back period’s rules will be assessed a penalty, which can result in the applicant being ineligible for Medicaid for a specific amount of time.
If you want to avoid penalties and exceptions with the five-year look-back period, then you need to consult with an experienced Medicaid planning lawyer to devise a strategy that protects your best interests. The look-back period starts on the date that you file your application for Medicaid, which is why you need to plan as soon as possible in case you encounter any issues that might delay your benefits.
Speak to Our Compassionate Elder Law Attorneys today
Our legal team at Kitzke & Canfield LLC understands that determining Medicaid eligibility is very confusing if you aren’t familiar with this particular area of the law. Not only do Medicaid programs vary from state to state, but the rules for qualifying frequently change and the application process is also time-consuming.
When you choose our law firm to represent you in your Medicaid matters, we will use our extensive resources and knowledge of the law to guide you through each phase of the process. Being denied by Medicaid can have a substantial impact on your quality of life, so stop by our firm today to find out what we will do to advocate for your rights and protect your assets.
Would you like more information about Medicaid planning options? Then please call us today at (262) 387-0706 to request your case consultation with our legal team.