Asset Protection
How We Can Help Protect Your Assets
Florida Elder Law and Medicaid planning attorney, Thomas Upchurch assists families in creating comprehensive plans to assist them through Florida’s Medicaid application process. However, the application process is only part of the overall equation when putting an asset protection plan in place. Not all situations are the same and often times what works for one family may not work for another. That is why it is critical to consult with a qualified elder law attorney when evaluating your long term care needs.
The average cost for a single month of nursing home care is nearly $6,000 per month. This does not include medications and all other incidentals. At this rate, it isn’t uncommon for the cost of care to exceed $80,000 per year for an individual residing in a nursing home. That is why an asset protection plan is critical for all families with a loved one either already in a nursing home or considering a move into a nursing home in the next five years. It is never to late to put an asset protection plan in place, but it is almost always more beneficial if an asset protection plan is put into place well in advance of being admitted into a nursing home.
For more information contact Elder Law Attorney Thomas Upchurch.
Our law firm represents clients in Daytona Beach, Ormond Beach, New Smyrna, Port Orange, South Daytona, Flagler County, Flagler Palm Coast, Deland, Ponce Inlet, Daytona Beach Shores, Ormond by the Sea and Bunnell.
Every, Stack & Upchurch service the entire Central and North Florida Areas. If you have any questions about the Medicaid system, we urge you to contact us at (386) 255-1925 to schedule a free 30 minute telephone consultation. In the alternative, you can email us at tupchurch@upchurchlaw.com and we’ll gladly respond to your inquires. Home and Hospital visits are also available.
Elder Law Blog
Case Study
In February 2011, Ann contacted us about her mother, Judy, a long time estate planning client of Upchurch Law. She informed us her mom had recently been hospitalized and was now in a nursing home. Her prognosis was less than … Continue reading
What Is a Qualified Income Trust and Who Needs One?
A Qualified Income Trust based on Florida law, often times referred to as a Miller Trust, is a vital document a Medicaid applicant must have in order to qualify for Medicaid benefits, assuming their gross income is in excess of … Continue reading
2011 MEDICAID ICP NUMBERS
The state of Florida has released the updated Medicaid income cap, numbers important to a Florida Medicaid attorney. The income cap for Medicaid nursing home assistance has been set at $2,022 for 2011, which will help a Florida Medicaid attorney … Continue reading