It isn't unusual for someone who is considering "Medicaid Planning" to say they've heard it's all about "hiding" money. Nothing could be further from the truth. Long term care asset protection planning, along with a Medicaid Application requires full disclosure of all assets and all asset transfers.
Get the reality by reading this informative article. Here are some of the myths outlined in the article:
* Myth 1: Medicaid planning is the fraudulent sheltering of assets done to help people become eligible for Medicaid.
* Myth 2: Gaming the system to Medicaid coverage of long-term care is widespread.
* Myth 3: Elder law attorneys help rich people get Medicaid
* Myth 4: Asset transfers result in huge additional costs to the Medicaid program.
* Myth 5: Making the penalties for tranfers of assets more severe will prevent "cheaters" from taking advantage of Medicaid
If you want to know more, please feel free to join us at one of our upcoming "Truth About Medicaid Planning " Workshops held twice monthly at our offices in Oviedo and Altamonte Springs at One Senior Place. Call 407-977-8080 for more information or visit our website for a current calendar at HoytBryan.com.
