For many families, asset protection is aimed at preserving resources for an elderly loved one to allow the senior to obtain quality medical care and a dignified quality of life. A married senior who is facing the potential need for long-term care generally will have concerns about his or her spouse who continues to live independently in the community. Asset protection serves a wide variety of important purposes, but the pitfalls are many if not conducted properly. At the Law Office of Amy B. Van Fossen, P.A., in Melbourne, Florida, we are committed to helping families protect property and qualify for vital government benefits.
Individuals with modest wealth frequently have many questions about the detailed rules imposed by Medicaid. As the Department of Veterans Affairs is proposing changes to the regulations governing the improved pension for vets and their spouses under the Aid and Assistance (A&A) program, preplanning is becoming increasingly important. The VA is proposing a 36-month look-back period on asset transfers to determine the net worth requirement for A&A eligibility determinations.
We Listen To Our Clients And Guide Them Through All Available Options
We take pride in listening to our clients to understand the full scope of their concerns and goals. We will analyze your financial structure and explain your options to protect assets and avoid probate, when possible. You have worked hard over a lifetime and deserve to safeguard assets to provide for yourself, your spouse and your heirs while receiving health care with dignity. We are here to help you.
At the Law Office of Amy B. Van Fossen, P.A., in Melbourne, Florida, we are well-versed in the strict guidelines in both the Medicaid and VA contexts. It is critical that your lawyer understands your specific circumstances to tailor a plan to help you maintain as much control over assets and maximize government benefits.
A Tailored Plan To Protect Your Family
No two asset protection plans are the same. For instance, a Medicaid-compliant irrevocable trust will differ from a trust created to protect property under the VA Aid and Attendance rules for calculating net worth. In addition to trust instruments, we explore a wide variety of estate planning options to craft the plan best suited to your needs.
To learn more about your options, whether you are in a position to preplan or are in a crisis situation, call our Brevard County elder law and VA benefits attorney at 321-426-1848 or 800-495-9153. You may also contact us online to request an initial consultation.