Medicaid is the nation’s major source of financing for long-term care services, covering both the elderly and nonelderly in institutional settings as well as in their homes and other community-based settings. The program, however, is limited to those with low income or who incur catastrophic expenditures. It is designed to give medical care to those with minimal assets.

In order to receive medical benefits for long-term care, recipients must first spend down the assets they have. The general rule to qualify for Medicaid is that applicants must have $4,000 or less in assets, excluding house, car and burial fund.

No one wants to exhaust his or her life savings on long-term care. At the law firm of Michael T Napolitano in Cranston, we lead clients and their families through the financial and legal process that allows them to preserve and protect their assets while maximizing their Medicaid eligibility.

Mr. Napolitano has assisted clients throughout Rhode Island in Medicaid planning for more than three decades. We take the time to evaluate each client’s unique financial situation (or the situation of an elderly loved one) and develop a customized strategy that allows the bulk of one’s assets to be passed on to heirs.

By working proactively with a lawyer on Medicaid and asset-protection planning, we can maximize the amount of assets available for a surviving spouse or children.

While it is always a good idea to begin this planning process early, it is important to know that we may be able to assist you with Medicaid eligibility requirements even if your family’s need for long-term care is immediate.

Contact us. We will review the facts of your situation and provide a straightforward assessment of what can be accomplished.