COSTLY MEDICAID MISTAKES CAN BE AVOIDED (Part III)

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) November 25, 2009 -- This is the third in a series for families and nursing homes around the country. The Medicaid planning mistakes often create long penalty periods which end up financially devastating for both families and the nursing homes because there is no money for the family to pay or the nursing home to receive during the penalty period. With costs of nursing home care in Massachusetts approaching $12,000 per month and $144,000 per year, this is a tremendous problem for families and nursing homes!

Each month, the attorneys and staff of The Estate Planning and Asset Protection Law Center of Dennis Sullivan and Associates hold educational workshops to explain how to identify and prevent potential problems. Our workshops are part of our commitment to helping seniors and their families clear up the many misconceptions about MassHealth (Medicaid in Massachusetts). We have seen mistakes cost families dearly, either by causing unnecessary disqualification periods where MassHealth will not cover them, or by causing them to spend their life savings before seeking help with nursing home and medication costs and losing whatever is left to estate recovery after the elder passes away.

Here are some of the common Medicaid misconceptions we see:

"Our pre-nuptial agreement shows that everything belongs to my husband"

The state does not take pre-nuptial agreements into consideration when determining Medicaid eligibility. All assets owned by either spouse are considered jointly owned and must be divided and spent-down exactly as they would if there was no pre-nuptial agreement in place. The only way a pre-nuptial agreement is effective is if the couple actually divorces.

Proper estate planning and expert legal advice can ensure that the wishes of both spouses are honored regardless of which one needs nursing home care.

For more information about qualifying for Medicaid (MassHealth), visit www.EstatePlanandAssetProtection.com to request your free copy of the Consumer’s Guide to Medicaid, Nursing Home and Asset Protection Planning or sign up for an upcoming workshop to learn more about common misconceptions, Medicaid problems and how to prevent and/or remedy them.

We help people and their families seeking to understand how to meet their goals and objectives with both education and counseling. The process begins with an educational Trust and Asset Protection Workshops, held twice a month in Wellesley (for upcoming dates and to register, please visit our website at www.EstatePlanandAssetProtection.com). The workshops are an excellent way to review existing planning, if any, and learn about the options available with estate and asset protection planning. We welcome all members of the community to attend. For those that cannot attend, please contact our office for a unique self guided 19 Point Trust and Asset Protection legal guide and helpful companion DVD.

elder law     Massachusetts medicaid     MassHealth     Medicaid Qualification     Nursing Home Care