Family Asset Protection Planning (FAPP)

Family Asset Protection Planning is one of our areas of practice.  We work with families  to protect the family’s assets in the event a parent has to go into a nursing home.  Often, prior to going into a nursing facility, the parent will give away assets or do other things that will result in a penalty that prevents Medicaid from paying for their care.  Consequently, the children have to pay for the care until the penalty period is over.  This service is designed to advise families ahead of time what they need to do to insure that all decisions made in the months and years prior to a nursing home admission are consistent.

Family Asset Protection Planning has many benefits:

Family asset protection planning in a long-term care context

  • We provides a roadmap/strategy to achieve eligibility for Medicaid or VA benefits and minimize loss of assets to do so.
  • We offer general advice on Medicaid rules and what money can and cannot be used for under those rules.
  • We Give case specific recommendations on spend downs and best ways to maximize use of money other than for nursing home expenses.
  • We ensures that you are prepared if it becomes necessary to apply to a nursing home.

Estate planning through the use of wills, deeds, trusts and other techniques or methods of owning property

  • Ensures that client’s end of life wishes are honored in a way that is consistent with your asset protection goals.

Incapacity planning

  • Provides a specialized power of attorney to make the transition to incapacity smooth and to ensure that the person named has all necessary authority to set up trusts, engage caregivers, etc.
  • Ensures that you are prepared in the event you become unable to manage your own affairs.

Protection against estate recovery

  • The planning prevents unnecessary loss of assets to the government upon the death of a Medicaid recipient.

Guidance for quality of life

  • We provide access to the firm to get specific questions answered as aging and caregiver needs increase.
  • We provide access to the firm to ensure that any changes in status or actions taken are consistent with the overall plan.
  • We provide referrals to our network of healthcare providers (in-home care, assisted living, nursing homes) and assistance with deciding what level of care/what facility is best, etc.

Application for benefits

  • We file the Medicaid application for benefits.
  • We Manage all communication with government representative all the way through the eligibility determination.
  • This portion of the fee is not due until and unless the application for benefits is filed.

Firm will also advise the client on the application for VA benefits if available. THE FIRM DOES NOT CHARGE A FEE TO DO SO.