Timothy J. Rice, Elder Law Attorney Reveals Medicaid Secrets That Protect Family Assets And Savings in Voorhees Township, NJ
Elder law attorney Timothy J. Rice, Esq. just announced how is helping working families to protect their assets and savings in preparation for their senior years so when the time comes, the majority of their assets are protected from nursing home fees.
Voorhees Township, NJ, United States – November 8, 2017 /MarketersMedia/ —
Timothy J. Rice, Esq., founder and managing partner of Timothy Rice Estate and Elder Law firm, has just revealed a three-step approach he is using to successfully help New Jersey families successfully qualify for medicaid and avoid losing the majority of their lifetime savings and assets to pay for nursing home care.
For more information please visit… http://www.timriceelderlaw.com/medicaid
To accomplish this protection device, Rice uses a medicaid planning formula which he deploys on a case-by-case basis depending upon each client’s background.
According to Rice, “Many people are unaware of how Medicaid laws work and how they can be used to protect a family’s assets under the law.”
Tim Rice helps his clients achieve a successful outcome in a number of different ways.
1.) Essential Background Information
One of the first things a client must do when seeking help in this area is make sure they have declared all of their financial holdings. To expedite the process, Mr. Rice has designed a special questionnaire that “reveals the true breadth of a client’s assets.”
This is the foundation needed to complete a Medicaid application.
One of the key documents that Rice ensures is in place early on is Power of Attorney documents, because, as he says, “not much can be done unless our client has power of attorney forms signed and filled out.”
2.) Medicaid Asset Protection Plan
After reviewing the required documents, Rice then maps out a summary to provide clients with a Medicaid analysis based on their specific situation.
On crafting Medicaid applications, Rice shared, “Referencing the preliminary questionnaire and related documents, I design a financial custom framework that packages the client’s assets so they are able to qualify under the current Medicaid laws. This protects the majority of the family estate from being taken by the government to pay for nursing home care, if that event ever arises.”
3.) Staying the Course
After Rice completes the Medicaid asset protection planning phase, which can include a number of different financial vehicles such as trusts, Medicaid-approved annuities or transferring assets outright, his clients then need to begin the process of applying for and securing Medicaid qualification.
This is where Rice and his team shine by going the extra mile, ensuring the application is granted by diligently responding to calls and letters related to the application.
This is where many applications fail due to the lack of expertise required to deal with these responses.
On working closely with the Medicaid office, Mr. Rice relayed, “No matter how diligently we complete the forms, it’s inevitable that the Medicaid office will ask follow-up questions. So, we work to keep the application process moving toward a successful outcome.”
For more information please visit… http://www.timriceelderlaw.com/
Contact Info:
Name: Timothy J. Rice, Esq.
Organization: Timothy Rice Estate and Elder Law Firm
Address: 1202 Laurel Oak Rd Suite 207, Voorhees Township, NJ 08043
Phone: 856-782-8450
For more information, please visit http://www.timriceelderlaw.com/
Source: MarketersMedia
Release ID: 261701
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