Avoiding Medicaid Disasters
You’re ready to apply for Medicaid, but once you begin the process, you realize that hiring a Medicaid planning lawyer is going to cost you some money. There are some other services out there you’ve heard about — non-lawyer Medicaid services that claim to do the same thing the lawyers do, but for less cash.
Should you go that route and save yourself some money? Or should you stick with what’s recommended and hire a lawyer?
Potential Harm
When you go with a non-lawyer planning service, you may find yourself experiencing any or all of the following problems:
- Exploitation
- Severe or disastrous tax liability
- Denial of Medicaid eligibility
- A myriad of other potentially harmful issues
Anyone who is not a lawyer but engages in certain activities is guilty of the unlicensed practice of law. These activities include:
- Giving legal advice, including advice regarding legal strategies for spending down and restructuring assets
- Writing up a personal service contract
- Gathering information for, and establishing, a Qualified Income Trust
- Selling personal service or Qualified Income Trust forms or kits related to Medicaid planning
Benefits of Hiring a Medicaid Planning Lawyer
Aside from the fact that you need a licensed lawyer to handle all of the above items, there is the issue of Medicaid rules always being subject to change. A Medicaid planning lawyer stays updated on everything related to eligibility requirements and protecting assets legally.
Someone who isn’t a lawyer simply can’t be trusted to have the knowledge and experience you want when dealing with Medicaid. You have to ask yourself: is this something you’re willing to risk? When your life savings and the financial security of your loved ones is on the line, is that an appropriate time to be looking for ways to cut corners?
It’s best to hire a professional when it comes to Medicaid, even if the cost is a bit more than those other services. In this situation, the old saying is certainly true — you really do get what you pay for.
Bradford & Holliman: Your Medicaid Experts
Older adults and families with aging parents can obtain public funding for long-term care when the need arises. The time to put a Medicaid plan in place is critical because of the strict qualifications rules. Contact us today for a free consultation!