Medi-Cal planning is a form of asset protection that involves planning to help an individual qualify for or retain Medi-Cal benefits. Under current law Medi-Cal is a financial need-based form of government benefit. This is different from social security disability benefits which are based upon disability, not financial need. Medi-Cal, which can pay for long term care, requires a person to have very little assets or income to qualify for assistance. However, with the exceptions for certain types of assets, knowing what counts as income, and how certain forms of property can be completely excluded from consideration, a person can qualify for Medi-Cal notwithstanding the fact that they have substantial assets. If you or a loved one is using Medi-Cal to help pay for your/their medical expenses and own a home, the government can place a lien on your home after you die. With proper planning you can preserve the equity in your home for your family.
Kimera Law Firm can help to legally and successfully preserve your wealth through proper planning.
Nursing Home Planning: Kimera Law Firm helps clients prepare for the challenges that they may face during the latter stages of their lives. Long-term care costs are very high, and many people are unpleasantly surprised to find out that Medicare does not pay for living assistance.
