What is Proactive Planning?

Published On: 01/31/2018

Proactive planning is a term used in estate planning to refer to the process of helping people qualify for Medicaid without losing all of their assets. The main strategy involves making qualified transfers of assets at least five years before the need to apply for Medicaid benefits. Planning ahead for long-term care needs is part of this process as well as ensuring that assets remain to be passed down to heirs. 

3 Tools to Consider:

  1. A Medicaid Asset Protection Trusts protect the property placed in this trust once the five year look-back period has been reached.  Many include their residences, annuities and life insurance policies in these trusts.

  2. Personal Care Agreements are service contracts where the senior transfers payments to the family member caregiver. 

  3. Power of Attorney that protect assets. 

Call (443) 470-3599 today and schedule a consultation with one of our experienced Maryland Estate Planing Attorneys to learn more about Estate or Elder Law and how we can help you.

To learn more or get started on your estate plan, just schedule a time to visit us for a no obligation complimentary consultation.

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Post Author

Britt Stouffer

Britt L. Stouffer is a Maryland attorney experienced in Estates, Trusts, and Elder Law. With over 10 years of experience in Estates and Trusts, she has learned to appreciate how unique each client truly is. On a typical day, you will find her working on Wills, Revocable Living Trusts, Powers of Attorney, Advance Medical Directives, Tax Planning cases, Estate Administration filings, Petitions for Guardianships, Special Needs Planning, and Asset Protection.

658 Kenilworth Dr., Ste. 203, Towson, MD 21204

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