Texas Elder Law & Medicaid Planning
Elder law is an aspect of estate planning, focusing primarily on the needs of individuals and families as they age. Many people are faced with the rising costs of healthcare. However, proper planning for the future can save your family from the costs and difficulties that arise when needing long-term care.
How to pay for care?
Privately paying for healthcare can be extremely burdensome on families. Although, with proper planning, clients have several options to ensure they get the care they need while preserving their savings and legacy for their loved ones.
Medicare vs. Medicaid
Individuals are frequently confused over the difference between Medicare and Medicaid. Although their names are very similar, the programs are quite different. Medicare is an entitlement program, a federal health insurance program in which most people over the age of 65 may enroll without stringent financial qualifications.
Conversely, Medicaid, is a joint federal-state program, subject to certain federal requirements. Participants must be medically and financially eligible to receive the benefits from the program, including extensive long term care. The financial requirements are very strict so clients must carefully follow the guidelines and properly plan.
What should you do?
If you wait until you or a loved one needs long-term care benefits, you lose the benefit of planning, and the cost of not planning ahead far exceeds the cost of doing it properly. By addressing these concerns with our attorneys in your estate planning we can help preserve your assets so that you have options if long-term care assistance is ever needed. Call Aparicio & McLaren today to schedule your complimentary consultation to ensure your family is protected.