It’s Not Too Late to Protect Your Assets
The question that we as elder law attorneys hear most often is “Is it too late to protect our assets?” We are happy to answer that question with “It is never too late!”
We understand that each situation is unique, but in many cases no matter what level of pre-planning has or has not been done, we are going to be able to protect a significant portion of a person’s assets.
We get asked this question more so when it relates to a parent or loved one going into a long-term care facility. I’m sure that if you are reading this you have heard a horror story about a friend’s relative or neighbor who has “lost everything to a nursing home.” I want to emphasize that that does not have to happen! With proper Medicaid planning, we are can prevent your family from being another example of a family who “lost it all” to the costs of long-term care.
The rules and strategies available differ depending on whether or not a person is married or single; however, regardless of the situation, it is possible to protect a great deal of a person’s assets. In West Virginia, a person is able to protect their home with proper planning through the use of a transfer on death deed. Further, we will be able to protect other assets as well, through various Medicaid planning strategies depending on the marital status of the client.
So do yourself and your family a favor and get informed about the options available, the laws that pertain to Medicaid and remember it is NEVER too late to protect your assets. Don’t be someone’s horror story. Call Rokisky, Wilharm, Blair & Rokisky at 304-748-3200 for a free consultation.
Rokisky, Wilharm, Blair & Rokisky is a firm of elder law attorneys, with offices located in Weirton and Wheeling. If you would like to submit a question for publication, email it to firstname.lastname@example.org.