As you are aware, Medicaid planning is a crucial aspect of ensuring financial security for you and your spouse as you age. One powerful tool that can help you achieve this goal is a Medicaid-compliant spousal annuity.
This type of annuity allows one spouse to transfer assets to the other in a way that does not affect their eligibility for Medicaid. This means you can preserve your hard-earned assets for your own use, while still receiving the quality care your spouse deserves.
Furthermore, a Medicaid-compliant spousal annuity provides a steady income stream for the well-spouse, helping to ensure their financial stability even in the face of substantial long-term care expenses.
If you are currently, or are about to encounter a long-term care need for a spouse, I highly recommend that you consider incorporating a Medicaid-compliant spousal annuity into your overall Medicaid planning strategy. Give us a call today, and we can discuss how these can apply to your situation.
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Jamison Bonds, VA Accredited Attorney
One of the many benefits of being an elder law attorney is getting to work with selfless clients who act not out of their own self interest, but out of a deep concern for the people they love. That’s why I love helping families enjoy peace of mind and protect their hard-earned assets.
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