Medicaid Planning
Medicaid Planning
Long-term care through Missouri Medicaid can preserve a family’s savings from being entirely consumed by nursing home costs, but eligibility rules are complex and include lookback periods for transferred assets. O’Gorman and Sandroni help St. Louis-area seniors and families plan for Medicaid eligibility, whether well in advance of needing care or in a crisis situation.
Understanding Missouri Medicaid Eligibility
Missouri Medicaid imposes both income and asset limits for long-term care eligibility, along with a five-year lookback period on asset transfers. We help clients understand exactly how these rules apply to their specific financial situation.
Planning Strategies
Depending on timing and circumstances, planning strategies may include certain trusts, spend-down approaches, and exempt asset planning. Crisis planning, undertaken after care is already needed, involves a different and more limited set of tools than planning done years in advance.
Frequently Asked Questions
Missouri applies a five-year lookback period, meaning asset transfers made for less than fair value within five years of applying for long-term care Medicaid can result in a penalty period of ineligibility.
No. While options are more limited once care is needed, crisis Medicaid planning can still help protect some assets and secure benefits more quickly than doing nothing.
Since 1985 Sean O’Gorman and Andrew Sandroni have been representing clients in all areas of the law. O’Gorman & Sandroni, P.C. was founded in 1989 on the principles of honesty, integrity, and the aggressive pursuit of our client’s goals.