Leading Elder Law Attorney Kelly Shovelin Reveals Essential Medicaid Qualification & Estate Planning Advice – Wilmington, NC

Top elder law attorney Kelly Shovelin, founder of Four Pillars Law Firm in Wilmington, NC, outlines why it’s essential to get the right advice for Medicaid planning. For more information please visit https://www.fourpillarslawfirm.com

Wilmington, NC, United States – March 31, 2021 /MM-REB/ —

In a recent interview, top elder law attorney Kelly Shovelin, founder of Four Pillars Law Firm in Wilmington, NC, has just revealed why it’s essential to get the right advice for Medicaid planning.

For more information please visit https://www.fourpillarslawfirm.com

When asked to comment, Shovelin said, “One of the biggest concerns among the aging population is the cost of nursing home care and whether they qualify for Medicaid to cover the increasing medical and health bills, such as nursing home costs. However, wrong advice in applying for Medicaid can result in losing assets, putting you and your loved ones in a difficult situation.”

Seeking Medicaid planning advice from the right professionals, Shovelin says, is crucial for meeting the needs and rights of senior citizens.

When asked for an example, she said, “A bank or financial advisor and an elder law attorney will probably offer drastically different recommendations. For instance, a financial advisor might encourage you to invest in an annuity that takes years to mature, which means you wouldn’t have access to your money for years without incurring a penalty and, the annuity might not be protected.”

In addition, attorneys not versed in elder law can often make mistakes. Shovelin went on to say, “Not everyone understands the ins and outs of the complex Medicaid system, including many estate planning attorneys. Many people equate elder law and estate planning – but they’re not the same.”

In general, elder law attorneys protect your money and assets while you’re still alive, while estate planning attorneys focus on how to distribute your assets after dying. That’s why it’s a great idea to find a boutique estate planning and elder law firm, versed in both. Working with someone who combines the two will help you and your family put together a complete “Family Protection Plan,” rather than just an estate plan.

She added that, “Estate planning lawyers might make mistakes when drawing up trust agreements to protect your family’s money before applying for Medicaid. You’ll need to hire someone who knows how to carefully word trust agreements so that
your assets will be protected.”

Having incorrectly worded trusts, Shovelin stressed, could jeopardize your eligibility to qualify for Medicaid benefits. Further to this point, elder law attorneys can use their knowledge to advise on the best way to apply for Medicaid.

When asked to elaborate, Shovelin commented, “Many times, people are unaware that certain types of income and savings are exempt under the law from being applied toward medical costs. Someone specialized in elder law can help prove that certain assets shouldn’t be taken into consideration when applying for Medicaid.”

“If you’re wondering where to start in planning for Medicaid, then consult an experienced elder law attorney to learn about the best way to proceed,” she commented.

Source: http://RecommendedExperts.biz

Contact Info:
Name: Kelly Shovelin
Email: Send Email
Organization: Four Pillars Law Firm
Address: 2202 Wrightsville Avenue, Suite 213 Wilmington, NC 28403
Phone: (910) 762-1577
Website: https://www.fourpillarslawfirm.com

Source: MM-REB

Release ID: 89003223