Meurer & Potter Law Office, Denver, Colorado
If you predict or now find yourself in a situation where you have too many assets to qualify for Medicaid assistance in paying for your long-term care, particularly a nursing home, we can help. Our attorneys at the Meurer & Potter Law Office in Denver can guide you through a strategy known as a Medicaid Spend Down.
Using this strategy, we will reduce your estate’s value to ensure your eligibility. We’ll first take a look at your assets to determine what’s “non-countable” by Medicaid’s qualification rules. This includes your home, car, personal effects, household items, as well as pre-paid funeral arrangements and burial plots.
Once we know how much will need to be included in your Medicaid Spend Down, we’ll take a look at your “permissible expenses” options, including the following and more:
- Paying off any legitimate debts, including paying off taxes or credit cards or pre-paying a loan such as a mortgage or auto debt.
- Purchasing non-countable assets like a new car, or if you haven’t done so already, pre-paying your funeral and burial expenses.
- Annuities are another option, which removes a lump sum from your estate and provides a guaranteed fixed income for your spouse.
While there are many ways to implement a Medicaid Spend Down, the Meurer & Potter Law Office in Denver will help you through the process, start to finish to ensure your long-term care expenses are covered and you have complete peace of mind.
Call or contact our offices today to schedule your free consultation: 303-991-3544