Today, the average cost of hiring a Medicaid lawyer to apply for Medicaid is between $3500 and $10,000 according to a variety of sources, but each state differs and lawyers set rates that reflect their level of experience and the amount of time they expect a given application to take.
Full Answer
Jun 24, 2019 · How Much Should an Attorney Charge for a Medicaid Application? Monday, 24 June 2019 17:27 Jim Schuster, CELA 0 Comments. Before we get into the nitty gritty of an answer, let’s consider the situation. A family member is in a nursing home for long term care. The monthly bill is over $8,400 per month (per the Michigan state average).
The reason why I say that, is the lawyer’s fee must have some relation to the results. If the application were a matter of merely taking 5 minutes to write basic information on a form, then maybe $50 would be too much. But there is much more to the Medicaid application process. Much, much more.
Legal Fees. Many attorneys want to get you in their office before they tell you what they will charge you for a Medicaid application. The Law Offices of Todd Gustafson, Esq., want you to have this information in advance. The initial consultation for Medicaid planning is free. For applicants who are already eligible for Medicaid, the usual fee is $2,750 for Mr. Gustafson (or staff under …
Mar 22, 2022 · Medicaid planning fees can range from $3,000 to $15,000.The following factors can all impact the cost the cost of a Medicaid planning engagement. The more complicated the case, the higher the fees. If the Medicaid applicant is single or married Ages and health of spouses and children
On the other hand, Medicaid attorneys often focus more on the legal aspects of Medicaid planning, such as creating Medicaid asset protection trusts or Qualified income trusts, which makes them the better option for this type of assistance.
Medicaid attorneys and specialists also assist with crisis planning, which occurs when a senior needs Medicaid benefits within 30-60 days.
What Elder Law Attorneys Do? Elder law attorneys, also called elder care attorneys, estate and trust attorneys, or Medicaid lawyers, assist persons in preparing for long-term care and death. They assist seniors in a large and diverse array of legal tasks, which encompasses retirement planning, estate planning, creating wills and durable power ...
One such strategy that elder law attorneys can implement is a Medicaid asset protection trust (MAPT). This type of trust not only prevents one from becoming ineligible for Medicaid due to gifting assets ...
The look back period is 5 years in all states except California (Medi-Cal has a 2.5 year look back).
For persons who have Medicaid cases that are fairly simple and straightforward, a Medicaid planner, also called a Medicaid specialist or a Medicaid Advisor, might be a good option. Working with a professional Medicaid planner can be a lot more cost efficient than working with a Medicaid attorney.
This strategy reduces one’s countable assets, while at the same time , protecting some of them for family. Essentially, Medicaid applicants gift approximately half of their “excess” assets (assets over Medicaid’s limit) to their loved ones and then purchase an annuity with the remaining “excess” assets. (An annuity turns countable assets ...