Top Elder Law & Estate Planning Attorney Rory Clark Addresses How To Qualify For Medicaid with Assets Over $500,000 – Leesburg, VA.

Leading Elder Law Attorney Rory Clark founder of the Legacy Elder Law Center in Leesburg, VA, reassures married couples that they can still apply for Medicaid despite their substantial assets. For more information please visit https://legacyelderlaw.com

Leesburg, VA, United States - January 30, 2024 —

Married couples with assets in excess of $500,000 can still apply for Medicaid, Rory Clark, a Virginia-based Elder Law Attorney, has assured.

For more information please visit https://legacyelderlaw.com

The Legacy Elder Law Center founder in Leesburg said that government rules for qualification for Medicaid are so complex that many applicants often get lost in trying to strategize, protect their assets and cut through bureaucratic red tape.

Clark said that a couple with over $500,000 in assets looking to shield themselves from the impact of paying long-term care related costs under Medicaid should first consult an attorney specializing in this field to consider their options.

Clark said that any Medicaid application should be error-free as a wrong response could quickly derail the process before it has begun, or worse, fail to get the benefits they or their loved ones are entitled to.

Filling out what he called a "Medicaid Qualification Blueprint" is the next step in applying for Medicaid. "This blueprint details all their financial assets, such as cash, deposits, income, investments, retirement funds, and life insurance – anything that might be under threat when applying for Medicaid," said Clark.

The Medicare Qualification Blueprint is then used to draft the Funding Roadmap. This tells authorities how a family's financial assets are put together and how most of the money is shielded from fees and services, such as nursing home costs covered under Medicaid.

In 2016, the US's average cost of nursing home care was around $225 a day, or more than $82,000 a year. "That amount is far more today, so I would seek timely guidance from an experienced Elder Law professional before committing anything," Clark concluded.

Source: http://RecommendedExperts.biz

Contact Info:
Name: Rory Clark
Email: Send Email
Organization: The Legacy Elder Law Center
Address: 108 South St SE ste 212, Leesburg, VA 20175, United States
Phone: 703-783-1195
Website: https://legacyelderlaw.com

Release ID: 89119799

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