Medicaid Pre-planning | Palumbo and Sweet

If you or a loved one is facing a diagnosis that often leads to long-term care or has a significant family history of others needing long-term care, you might want to consider advance Medicaid planning.

This is different from crisis Medicaid planning (although it may still present a financial crisis). In these situations, we have time to think and craft a plan. No one is immediately facing long-term care.

When our clients come to us in this situation, we are often able to present more, and possibly better, options to control costs and protect assets. The key is not to wait before contacting us for help.

I'm using my long-term care insurance, can't I wait?

No. We have more options to protect assets while your long-term care insurance is paying. If you wait until the insurance runs out, it can dramatically limit your options to protect your assets.

Should I wait until I need to leave my home before I plan?

No. The earlier we can review your situation and apply your goals, the more likely it is we can achieve them. This applies particularly to someone facing dementia or Alzheimers. If we're able to help early on, we may still be able to help that person implement a durable general power of attorney. But if you wait too long, we can't.