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Guardianships / Conservatorships
Do you have plans in place for when you or your loved ones are elderly and may need professional care?
As elder law attorneys, we understand that estate planning for the long term should include either Medicare or Medicaid planning.
At FULMER | MAY | STUCKEY we’re Birmingham, Alabama attorneys with experience in this area of the law. We can help you with all of your law and estate planning requirements.
Why do you need to incorporate Medicaid into estate planning, and why do we recommend it over Medicare?
As attorneys with experience in the law, we know what will be best for you, and we can help you plan for all possible outcomes.
We’ll assign you a lawyer from our team with the experience you need in this complex area of the law, and our attorneys will always be there to answer any questions you may have.
Medicare and Medicaid
When you’re considering any plans for the future, you must talk to attorneys who have a thorough understanding of elder law and estate planning.
At FULMER | MAY | STUCKEY we have the experience that counts, and our attorneys can help with all areas of the law.
One thing you need to understand is the difference between Medicare and Medicaid. Let us explain.
What is Medicare?
Medicare is a great program that covers many aspects of health care for those over the age of 65. However, it’s somewhat limited in what it actually covers.
As experts in elder law, our firm understands the Medicare system.
The main thing you need to know when planning for your future is that Medicare will only cover the cost of short-term stays in a nursing home.
A short-term stay, according to Medicare is a maximum of 150 days, and then only after hospitalization.
Under current Medicare law, there is no facility for long-term stays.
What is Medicaid?
As we’ve said, planning in advance and having an understanding of the law is essential. Our attorneys can tell you all you need to know about Medicaid.
Medicaid differs from Medicare in many notable ways, and it’s also an important part of elder law.
Medicaid is a federal government initiative that’s administered by the state involved.
In this case, you can use FULMER | MAY | STUCKEY to take advantage of our expert planning and estate knowledge. We’ll provide a lawyer on our team with relevant experience in elder law.
Long Term Care
Medicaid will pay for long-term treatment or care. However, there are strict criteria to be met in the eyes of the law that our attorneys will oversee.
This is ultimately why such great care is needed in planning for your future.
Our Birmingham, Alabama lawyers are able to make certain that every effort is put into planning your application and evaluating your estate.
Throughout the entire process our attorneys will always keep your individual circumstances in mind.
The Medicaid program expects reimbursement from the estate of the patient.
This is yet another reason why planning for the future of the estate is vital, and lawyers are necessary.
At FULMER | MAY | STUCKEY our attorneys are experienced in this area of the law.
Planning for Medicaid may also involve the creation of a trust.
If your estate is put into a revocable trust the assets will be used for Medicaid reimbursement.
On the other hand, if your estate is put into an irrevocable trust, which is an income-only trust known as a Medicaid trust, your assets will be protected after a certain amount of time has passed.
In this way, any income derived from the assets and estate within the trust can then be used to reimburse Medicaid.
The extremely complex nature of Medicaid law means that you will need our assistance in planning.
We’re more than happy to have one of our elder law attorneys discuss the Alabama Medicaid law with you in more detail. We can also help with your estate planning requirements.
In each case of Medicaid law, the assets that can be used to recover the costs will be carefully considered. The law may also state that funds can be recovered from the estate and assets of a ‘community spouse’.
The term community spouse is used by Medicaid when referring to the spouse of the applicant, and our lawyers help you in planning for this possibility.
Our Alabama lawyers are professional, courteous and knowledgeable. We believe in doing all we possibly can to find the best possible solution for you or your loved one.
Further Help with the Law
At FULMER | MAY | STUCKEY you’ll find that our Alabama lawyers are well versed in all areas of tax planning and estate law, and we like to build a client relationship that works for you.
We also have expertise in corporate law! FULMER | MAY | STUCKEY can help if should you require defense in court. We’re also more than happy to help with any information you need regarding the law.
If you need help with future planning for your estate or that of a loved one or relative, please reach out to us at FULMER | MAY | STUCKEY as soon as possible.
We can’t stress how important it is that you begin planning for your future now. To get the most out of your estate and assets in the most unfortunate event of illness, you must begin the planning process.
Please call us now so that one of our attorneys can discuss your situation and arrange a consultation.