- Asset Transfer Strategies
- Planning with a Life Estate
- Medicaid Trusts
- Medicaid Compliant Annuities
- Trust/Estate Planning Coordination
- Medicaid Assistance Applications
- Interview Process Representation
- Appeals & Representation in Fair Hearings
If a family does not have long-term care insurance or sufficient assets to self-insure (i.e. pay out of pocket using their own money), they may consider attempting to apply for Medicaid, which is the applicable government assistance program that can pay for nursing home care costs. The Deficit Reduction Act and the Hawaii Administrative Rules impose certain requirements regarding 1) the amount of available resources (assets) someone may keep and still be eligible for benefits; 2) retention of monthly income; 3) the impact of prior estate planning documents such as assets held in trust; and 4) the treatment of the transfer of assets under various circumstances and timing (e.g, five year lookback and penalty waiting rules). In addition, there are special rules regarding Medicaid assistance recovery liens (i.e., government liens that are placed against a home residence to cover costs once a Medicaid recipient passes away), transfers to care-giver children, life estates, mortgages and annuities.
Macanas Estate & Elder Law delivers quality, customized legal representation for those seeking to protect family assets from the high cost of long-term care. There are many planning opportunities that can help protect hard-earned assets from losses associated with the cost of nursing homes. For those clients who have lower to moderate net-worth, Macanas Estate & Elder Law offers solutions to take advantage of the most effective and ethical asset protection strategies currently used in the field.