We care, and it shows. You’re not just a number to us. We listen, and we ask questions. We strive to improve our client’s lives every day.
Are you worried about protecting your assets in Minnesota while planning for long-term care?
It’s a common concern for many older individuals and their family members, and it’s understandable. As we age, we must start thinking about how we will pay for care if we become incapacitated or require long-term medical assistance.
Long-term care planning involves preparing for extended medical care, such as nursing home care or in-home care. This type of care can be very expensive, and it’s important to plan ahead to ensure you have the resources to pay for it.
Don’t leave your estate assets and your legacy to chance. Contact a Minnesota asset protection lawyer at our law firm who can help ensure your personal assets are secured, and your long-term care needs are met.
Contact Safe Harbor Estate Law in St. Paul today for a free initial consultation.
A Minnesota asset protection lawyer helps clients create estate plans to protect their personal assets, business entities, and income from being used to pay for long-term care.
They can assist with creating trusts, transferring assets, and other legal strategies that can help shield your assets from being counted when determining your eligibility for Medicaid or other government assistance programs.
Here are some ways that an asset protection lawyer can help with long-term care planning:
Medicaid is a government program that can help pay for long-term care for seniors who meet certain income and asset requirements. However, qualifying for Medicaid can be difficult, and the rules vary from state to state.
An asset protection lawyer can help you navigate the complex rules and regulations and help you qualify for Medicaid while protecting your assets.
A Medicaid asset protection trust is a legal arrangement that can help protect your assets from creditors, including nursing homes and other long-term care providers. An asset protection lawyer can help you set up this type of trust and ensure it is properly funded and managed.
An irrevocable trust is a type of trust that cannot be changed or revoked once it has been created. This type of trust can protect assets from being used to pay for long-term care. An asset protection lawyer can help you create an irrevocable trust and ensure it meets your needs.
When you transfer assets to a loved one or family member, it can effectively protect your money from being used to pay for long-term care. However, there are strict rules and regulations governing asset transfers and gifts, and it’s important to work with an experienced asset protection lawyer to ensure that the transfer is legal and effective.
If you or a loved one need expensive long term care, it can feel like being lost in a foreign land where you don’t speak the language. We speak the asset protection language and we can help you navigate through unfamiliar terrain to benefit you and your loved ones. If you are stressed about paying for care, worried about having good care options, or want to protect assets, contact us today at 612-615-9535!
In Minnesota, generally, the best way to protect assets is to make a strategic gift combined with a Medicaid Compliant Annuity. An Irrevocable trust can be used as part of the gift (and if you are more than five years away from needing Medicaid to pay for care, you could do the irrevocable trust without buying the Medicaid Compliant Annuity).
The Medicaid Compliant Annuity and the irrevocable trust are relatively new tools for Minnesota Medicaid planning, so not all elder attorneys are experienced with them. We have already helped our clients save millions of dollars with gift/annuity plans. It involves a sophisticated strategy involving precise calculations, so it is not a DIY project.
Long-term care planning can be complicated, but it’s essential to ensure that your assets are protected, and your long-term care needs are met. Enlisting the help of a Minnesota asset protection lawyer can help you navigate the complex rules and regulations and ensure that your assets are protected.
A qualified asset protection attorney at Safe Harbor Estate Law today can help you start planning for your future. Contact us today to schedule a consultation.
If you have assets you want to protect and are concerned about paying for long-term care, you may benefit from an asset protection plan. An asset protection plan is a good estate planning tool for most people to have in place, but it’s particularly useful for high-net-worth individuals, business owners, those with limited liability companies, and anyone over the age of 55 who has assets that need protection.
It’s important to speak with an experienced asset protection lawyer who can evaluate your situation and provide guidance on the best course of action.
Without an asset protection plan, your assets could be vulnerable to being used to pay for long-term care. This could significantly deplete your savings and limit your ability to pay for other expenses. Working with an asset protection lawyer ensures that your assets are protected, and your long-term care needs are met.
The timeline for creating an asset protection plan can vary depending on your case’s complexity and your lawyer’s availability. It’s important to start planning early to protect your assets.
Creating an asset protection plan on your own is possible, but it can be complicated and risky. Working with an experienced asset protection lawyer can help ensure your plan is legal and effective.
Creating an asset protection plan may still be possible even if you already need long-term care. However, working with an experienced asset protection lawyer as soon as possible is important to ensure that your plan is legal and effective.
Every person at Safe Harbor Estate and Elder Law is helpful and professional, while being friendly and putting you at ease. They know that this is not an every day event for people, and that clients may be uncomfortable. Everyone there does everything they can to make the process easy and smooth sailing. Margaret and her team genuinely want to protect
Safe Harbor Estate Law first worked with me in 2017 to complete my Living Will and Estate Plan. They were very thorough and everything went smoothly. What really impressed me about them was how they worked to iron out the issues when I was refinancing with Wells Fargo. Safe Harbor’s lawyers interceded on my behalf to clarify the issues with the title
Absolutely experts at what they do. Really solid organization their process is well thought out and well practiced. I had very similar work done several years ago by another firm and Safe Harbor Estate Law fixed their work and provided a much better result in both less time and money. Everybody at this firm completes their role very efficiently and
We were very pleased with the service from Safe Harbor. After years of procrastinating, we finally decided we needed to move forward and get our estate planning completed, which involved setting up a living trust. We were surprised at how easy it turned out to be. Safe Harbor tailored our will and trust documents to some unique need we had and all is now
I had put off getting a will done for 6 years, even after being diagnosed with Multiple Myeloma 4 years ago. Then I watched Safe Harbor’s webinar just to learn some will/estate planning information. That webinar answered so many questions for me and made me realize the big mistake I was making by not finalizing a will. So I scheduled a consultation immediately
Safe Harbor Estate Law was recommended by a lawyer friend. From the very beginning I was impressed with the respect and compassion with which we were treated. My goal was to come away with a plan that would protect our assets. I now have that plan which is very thorough, providing me with peace of mind. Working with the team at Safe Harbor Estate Law was a positive experience. All of the attorney I worked with were very professional. Michael Teeter, especially, is knowledgeable, explaining all the complexities. He was also patient and responsive in answering my follow-up questions, often more than once.
The process of creating our Trust
was incredibly smooth. From the initial zoom informational meeting to the meeting with the well versed attorney and the final signing, we felt confident and informed.
I hired Safe Harbor Estate Law to do my estate plan including a living trust, power of attorney, and health care directive. They made the process easy by explaining everything clearly, being organized, and answering my questions.
They listened to our wants and needs and drafted the documents we needed to feel secure in having the best estate plan possible for us and our family.
See what other Safe Harbor Estate Law clients are saying about their experience.
We care, and it shows. You’re not just a number to us. We listen, and we ask questions. We strive to improve our client’s lives every day.
Our firm goes above and beyond to make you feel comfortable throughout the process so you feel informed and confident every step of the way.
We help you leave a legacy that is smoother, less expensive, and less hassle for your loved ones with a plan that is uniquely tailored to your goals.
Our team is motivated to help you experience smooth sailing from start to finish so everything is done thoroughly and properly.
I attended a free seminar to learn about getting a Will. I learned so much more than I expected! I then hired Safe Harbor Estate Law to create a Will, POA and Trust. The process was very simple!
I highly recommend everyone to contact Safe Harbor to help you too!
