Elder law is a broad field aimed at catering to the unique needs of an aging population. While elder laws address the issues which seniors are most likely to face, people of all ages can benefit from consulting with an elder law attorney. In fact, some of the most important steps you can take to make elder laws work for you are best taken when you are still young and healthy.
Schomer Law provides invaluable assistance to people of all ages with a wide variety of elder law issues. While our Los Angeles elder law attorneys can provide comprehensive personalized legal advice and offer assistance in putting a variety of legal tools to work for you, one of the most important issues that we address is Medi-Cal planning. Medi-Cal planning allows you to ensure you can qualify for Medi-Cal nursing home payments without having to spend down your assets. This means you can get the care you need while protecting your nest egg and preserving your legacy.
To learn more about elder law and Medi-Cal planning, contact Schomer Law today for customized legal advice. We’ll offer guidance on your situation and answer questions you may have including:
- What is elder law and why does it matter to you?
- What is Medi-Cal planning?
- How can a Los Angeles elder law attorney help you?
What is Elder law and Why Does it Matter to You?
Elder law is a field of law focused on helping clients to maintain dignity, maintain autonomy, and maintain financial security, even in the face of incapacity or death. Elder law attorneys offer advice on:
- Estate planning
- Longterm care planning including Medi-Cal planning to secure coverage for nursing home payments
- Incapacity planning
- Legacy planning
The field of elder law gets its name because seniors are statistically more likely to suffer an illness like dementia which causes them to be unable to manage their affairs. Those who have reached a more advanced age are also more likely to pass away. However, incapacity, illness, and death can actually happen at any time in the course of your life. If you want to make sure your assets are protected, you have a plan in place for your care, you won’t get medical treatments you don’t want, and your family is provided for- you need an elder law attorney.
What is Medi-Cal (Called Medi-Cal in CA) Planning?
Medi-Cal planning is one of the most important tasks elder law attorneys provide assistance with, because Medi-Cal planning protects both your finances and your future ability to get the healthcare and assistance you need.
As they age, many people experience illnesses which affect their ability to live on their own. Once you can no longer engage in routine activities of daily living and once managing your own life becomes impossible, you may need to get skilled nursing care. Unfortunately, both home care and nursing home care can be extremely expensive- and both are covered by Medi-Cal or private insurance in only very limited circumstances.
Medi-Cal is one of the primary payers of nursing home costs and home care costs; however, Medi-Cal is restricted to people of limited means. Seniors often find themselves forced to sell property and spend down a nest egg they’ve worked to acquire over the entire course of their working life. With Medi-Cal planning, however, you can ensure assets are not owned by you but are instead owned by a trust. The assets won’t count when determining if you can qualify for coverage, so you can leave your legacy to your loved ones and get Medi-Cal benefits sooner.
Medi-Cal planning, to be most effective, must be done early. If you transfer assets to a trust (or to anyone else) within five years of trying to get Medi-Cal to pay for a nursing home, you’ll face a period of disqualification. However, if you transfer assets while you are still young and healthy and you don’t try to apply for Medi-Cal for many years after the trust is created and funded, you should be able to get Medi-Cal to pay right away.
How Can a Los Angeles Elder Law & Medi-Cal Planning Attorney Help You?
A Los Angeles Medi-Cal planning attorney at Schomer Law Firm can provide you with invaluable assistance in creating a comprehensive plan to control your own future. We’ll assist you in making sure you can qualify to get nursing home care paid for and in taking other steps to protect your assets, make advanced decisions on medical care, and ensure your loved ones are protected. Give us a call to get started.