Asset Protection

Asset Protection: How Can It Help Me?

You spent your life working, paying taxes, saving money and playing by the rules so you could feel secure as you age and leave an inheritance to your family. Do not let a stint in a nursing home deplete your hard-earned finances. Use asset planning to protect your legacy.

Asset protection is a vital part of Medicaid planning. It allows nursing home residents and their spouses to protect their finances, retain their dignity and avoid impoverishment. At Kentucky ElderLaw, PLLC, our attorneys will apply the law to the facts of your situation to systematically preserve some of your assets, within Medicaid rules, while providing for your future care. We help our clients get the care they need, when they need it, where they want it, and figure out how those costs will get paid.

Make Sure That Medicaid Law Is On Your Side

Federal law is meant to protect the income and assets of one spouse when the other goes into a nursing home. Federal law also allows for preservation of some of the assets of single nursing home residents. That being said, many applicants would have to go through a significant “spend-down” of assets without elder law planning.

The good news is here are still tools available that permit people who have been careful with their money to preserve it for themselves and then pass some of it to their family if specific rules and procedures are meticulously followed. We work to protect our clients’ rights under state and federal law. We advise you of your rights and work within the law to preserve and protect the most assets possible.

Begin Asset Protection As Soon As Possible

As with most types of planning, the earlier you begin, the better off you are. Contact Kentucky ElderLaw, PLLC, today to begin protecting your legacy to your family. You can reach our Louisville office at 502-581-1111, our Bowling Green office at 270-467-0002 or our Shepherdsville office at 502-955-1005. You can also send our office an email.

Our First Conversation Is Free

We give seniors and their loved ones the peace of mind knowing they’ve done everything they can to prepare for the high cost of getting older.

Let’s Talk About Your Goals

Our attorneys have the knowledge and compassion to lead you through planning your estate and planning for long-term care, which can be daunting, confusing and frustrating. Call us at 502-581-1111 to arrange your FREE consultation or fill out the form below to contact us for an appointment.