Public Group
active 7 years, 4 months agoIf you’re getting older and facing rising medical costs, one of the things that has certainly crossed your mind is how will you continue to pay for these in your old age after retirement? Perhaps you are struggling to pay for these services now and without the income of working, you feel that you would be left destitute and unable to care for yourself. However, this need not be the case! By reaching out to your elder law attorney New Jersey, he or she will be able to help you out by discussing how to get you qualified for Medicaid. Why should you contact a Medicaid planning attorney Toms River? Because a Medicaid planning attorney Toms River is your advocate and will be able to help you navigate the legal limbo of New Jersey’s Medicaid system.
For instance, you may feel that you have too many assets or too much income to qualify. You may well be lower middle class and feel that you’re not eligible for Medicaid. This is not always the case, as your Medicaid planning attorney Toms River can tell you there are many different types of assets that are not counted against your total assets. Things like jewelry, food, clothing, and medical bills that you are continuing to pay are all things that are factored into whether you qualify. So before you try to qualify and get rejected because you didn’t take the right number of asset reductions, contact your Medicaid planning attorney Toms River and let him or her help you ensure that you get the benefits you need.
One of the other great things that an elder law attorney New Jersey can help you with is to help you reduce your income level in a way that Medicaid no longer counts it against you. Doing things like transferring assets, purchasing of annuities, and even establishing trusts are all ways that your Medicaid planning attorney Toms River can help you lower your Medicaid assessed income.
What is also beneficial is that several of these also have side benefits; a trust for instance can be used in conjunction with a will to ensure that more of your money, property, and inheritance will go to your heirs and not to Uncle Sam. The death tax is one of the most loathed taxes in America, but despite its unpopularity, it does not mean that the government will not try and squeeze the last penny out of a loved one who has gone.
By speaking with your elder law attorney New Jersey, you will be able to make sure that your wealth goes to those whom you desire and that it is not siphoned away by state and federal taxes.
So the next time you are beginning to think about these end-of-life issues, think about protecting your assets by forming trusts, writing a will, or even protecting your assets with Medicaid planning. You should speak with your elder law attorney New Jersey and let them go to work for you to secure your future.
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