Shawn Weera Highlights the Benefits of Medicaid to Protect Marital Finances

Strategies can be complicated, requiring deep understanding of the requirements and regulations stated in Medicaid qualification.

Grand Rapids, MI - March 14, 2018 /MarketersMedia/ —

The need for long-term living and care has increased exponentially over the past century, but as people near their elder years, it often becomes confusing how to save up enough money and protect those finances to last through the end of life for both the individual and a spouse. Shawn Weera notes a related increase in the need for long-term care and assisted living. Such arrangements for an elderly spouse or family member often put funds at considerable risk due to the high cost of satisfactory care, fast approaching $100,000 annually. After working for a lifetime to secure comfortable, carefree golden years, Weera cautions clients to plan ahead to protect and preserve wealth when facing astronomical bills associated with elder care expenses. Using Medicaid planning as an important tool to fine tune client portfolios, Weera encourages advance preparation of a safe financial harbor.

Strategies can be complicated, requiring deep understanding of the requirements and regulations stated in Medicaid qualification as well as the legal principles in documents like the Deficit Reduction Act of 2005. First and foremost, Weera urges the engagement of a certified elder law attorney with significant knowledge in estate planning, filial support laws, and countable vs. non-countable resources before considering any financial moves. Critical details involving timing, selection of investments, and state laws in addition to federal regulations, must be carefully observed in order to achieve maximum asset conservation. As long-term care and nursing home costs are not covered by Medicare, planning for the effects of these expenses to financial status is essential.

Shawn Weera's individual approach, unique to each family situation, carefully considers a range of plans to identify only the most appropriate. Employing Medicaid as a planning tool, with suggested spend-down purchases lowering non-exempt assets, helps qualify some elderly patients for assistance. Paying off debts, credit cards, expenses, and pre-paying real estate taxes all work toward that end. While not usually appropriate for Medicaid planning, liquidating capital to a carefully chosen annuity can, in certain cases, turn holdings into income, ensuring a comfortable lifestyle while providing for adequate care of the ailing spouse. Identifying a non-assignable, non-transferrable annuity that satisfies regulations and avoids penalties can be very helpful, but Weera notes that this option requires meticulous oversight by a trusted expert. Additionally, leveraging long term care insurance may be a possibility if planning far enough in advance.

Qualification for Medicaid is complicated. Which items are exempt from consideration? Which are not? What is CSRA? Questions like these are the area of expertise for Shawn Weera, JD, MFP, and President of Shawn Weera & Associates in Grand Rapids, MI. With nearly two decades of legal experience, a bachelor's degree in accounting from the University of California at Los Angeles, and a Juris Doctor degree from Thomas M. Cooley Law School in Lansing, MI, Weera is highly qualified to make Medicare planning an important part of a personal acquisition strategy. A member of the Grand Rapids Bar Association, Weera is also a member of the National Association of Elder Law Attorneys.

Shawn Weera - Michigan Elder Law Attorney: http://shawnweeranews.com

The Elder Law Firm P.C. - Home - Facebook: https://www.facebook.com/MichiganElderLaw

Shawn Weera - On New Medicaid Estate Recovery Laws: https://finance.yahoo.com/news/shawn-weera-medicaid-estate-recovery-203800822.html

Contact Info:
Name: SWN
Email: contact@shawnweeranews.com
Organization: ShawnWeeraNews.com

Source URL: https://marketersmedia.com/shawn-weera-highlights-the-benefits-of-medicaid-to-protect-marital-finances/314336

For more information, please visit http://shawnweeranews.com

Source: MarketersMedia

Release ID: 314336

More News From Daily Sports Club

Insigne scores twice as Napoli beats Torino 3-1 in Serie A

Sep 23, 2018

MILAN — Napoli seems to be finding its feet under new coach Carlo Ancelotti and Lorenzo Insigne is reveling in his more central role. Insigne scored twice on Sunday to help Napoli win 3-1 at Torino in Serie A in a dominant performance from last season's runner-up. Torino gifted Insigne the first goal with less than four minutes on the clock. Emiliano Moretti attempted to clear Sebastiano Luperto's cross but it came off Torino teammate Nicolas N'Koulou and straight into the path of Insigne, who drove it in under the crossbar. Simone Verdi doubled Napoli's lead in the 20th with...

Gervinho thriving at Parma with stunning goal vs Cagliari

Sep 23, 2018

MILAN — Gervinho received a standing ovation for a stunning goal and another when he was substituted as he helped Parma beat Cagliari 2-0 in Serie A on Saturday. Gervinho scored the second two minutes after the break. The 31-year-old Ivory Coast international sprinted from deep inside his own half and beat three defenders before firing in off the near post. "I don't know if it's my best goal, I have scored so many of them," the former Arsenal and Roma player joked. "I'm happy to be here and to have come back to Italy. I'm happy at Parma and...

Spal _ Capello's 1st club _ is the surprise of Serie A

Sep 23, 2018

ROME — The little club where Fabio Capello got his start as a player is the early surprise in Serie A. Ferrara-based Spal is second in the standings, behind only seven-time defending champion Juventus and ahead of Napoli, last year's runner-up, on goal difference. "If you had told me that after four rounds we would be in second place behind Juve I would have started laughing and dancing," Spal coach Leonardo Semplici said following a 2-0 win over Atalanta on Monday. Playing only its second season in the top division in a half-century, Spal was expecting a fight to avoid...

CSKA penalty salvages late point v Plzen in Champions League

Sep 23, 2018

PLZEN, Czech Republic — CSKA Moscow salvaged a 2-2 draw with Viktoria Plzen in the Champions League on Wednesday after a penalty deep in stoppage time. Plzen was leading 2-1 on goals by Michael Krmencik before Jan Kovarik's foul gave CSKA a spot-kick, which was duly converted by Nikola Vlasic. Krmencik scored the opening goal in the 29th minute at a free kick off a header from Radim Reznik and added his second from David Limbersky's cross 12 minutes later. CSKA came back into contention in the second half when Vlasic crossed for Fedor Chalov to score in the 49th....

Champions League's youngest coach starts with a draw

Sep 23, 2018

KHARKIV, Ukraine — The youngest coach in Champions League history drew his debut game Wednesday as Hoffenheim's game at Shakhtar Donetsk finished 2-2. The 31-year-old Julian Nagelsmann had to wait just six minutes to see his team score a first Champions League goal as Florian Grillitsch put Hoffenheim 1-0 up. However, Shakhtar responded with a solo effort from Ismaily in the 27th as the Brazilian charged down the left flank before leaving defender Havard Nordtveit sprawling as he cut inside and placed a shot inside the far post. Nordtveit restored Hoffenheim's lead with a header in the 38th after a...

Search

About Us

From transfer news, tactical analysis to predictions, get only the best of the world of sports daily with Daily Sports Club.

Contact us: sales[at]dailysportsclub.com

Subscribe Now!