Long-Term Care
Secure Your Future with Confidence
Protect your assets, qualify for Medicaid, and enjoy your final years in peace.
Serving clients in Henrico, Richmond, Glen Allen, Goochland, and surrounding areas in Virginia.
Providing Legal Guidance for Seniors and Individuals with Special Needs
Herndon Law, P.C can help you protect your assets, qualify for Medicaid, and receive the care and support you deserve to live with dignity through our knowledge of long-term care planning in Henrico, VA and surrounding areas.
Aging or living with disabilities presents financial and legal challenges that can feel overwhelming. Planning ahead helps protect assets, ensure access to quality care, and provide peace of mind for both seniors and their families. Whether preparing for Medicaid eligibility or securing long-term care arrangements, taking proactive steps can make all the difference.
At Herndon Law, PC, we assist individuals and families throughout Virginia (Henrico, Richmond, Glen Allen, Goochland, and surrounding areas) in navigating these complex matters. Our approach is rooted in compassion and a commitment to crafting strategies tailored to each client’s unique needs.
Planning for Long-Term Care: Protecting Your Assets and Future
The cost of long-term care continues to rise, leaving many families searching for ways to cover expenses without exhausting their life savings. Without proper planning, financial security can quickly erode, leaving few resources for spouses and other loved ones.
Understanding the Cost of Long-Term Care
The high cost of long-term care surprises many families. In Henrico, VA, nursing home costs frequently exceed $90,000 per year, and assisted living or in-home care services can also be expensive. Medicare provides only short-term rehabilitation coverage, leaving families responsible for long-term expenses unless they qualify for Medicaid.
Legal Strategies to Preserve Assets While Covering Care Costs
With the proper legal planning, families can maintain financial stability while ensuring access to quality care. Advantageous strategies may include:
- Medicaid Asset Protection Trust – A trust that holds assets separately, allowing seniors to qualify for Medicaid while preserving wealth for their families.
- Spousal Protection Measures – Safeguarding a healthy spouse’s financial security when their partner requires nursing home care.
- Caregiver Agreements – Establishing clear, documented arrangements for family members who provide care, ensuring payments align with Medicaid rules.
Proactive planning can prevent financial hardship while securing necessary care.
Don’t wait until a crisis
Schedule a consultation today to protect your future.
Medicaid Planning in Virginia: Protecting What Matters Most
Medicaid offers crucial assistance for those who cannot afford to pay privately for long-term care. However, navigating the eligibility requirements and application process requires careful planning.
Qualifying for Medicaid Without Depleting Your Resources
Many assume they must spend all their assets before Medicaid will help pay for nursing home expenses, but that is not the case. Virginia allows seniors to keep certain exempt assets, such as:
- A primary residence (subject to equity limits)
- One vehicle
- Certain prepaid funeral and burial plans
Transferring assets without proper planning, especially within five years of applying for Medicaid, may lead to penalties. Understanding the “look-back period” and structuring finances accordingly is essential to avoid unnecessary delays.
How Legal Planning Helps with Medicaid
Applying for Medicaid without guidance can be frustrating and result in costly mistakes. An attorney can help by:
- Timing applications appropriately to avoid gaps in coverage
- Establishing and funding irrevocable trusts to preserve assets while meeting Medicaid qualifications
- Assisting with documentation to ensure a smooth application process
With the right approach, seniors can qualify for Medicaid while protecting their financial well-being.
Securing the Future of a Loved One with Special Needs
What Is a Special Needs Trust?
A special needs trust (SNT) is a vital tool for families who want to provide for a loved one with a disability without jeopardizing their access to essential government benefits like Medicaid or Supplemental Security Income (SSI). By placing assets in a trust rather than directly in the individual’s name, families can ensure financial support for housing, education, medical expenses, and other needs that go beyond that covered by assistance.
How Does a Special Needs Trust Work?
An SNT is managed by a trustee who oversees the trust funds and distributes them for approved expenses that enhance the beneficiary’s quality of life. There are two main types of special needs trusts:
Third-Party SNT
Created by parents or relatives for a child with disabilities, ensuring financial stability while protecting benefits. Remaining funds can pass to other family members after the beneficiary’s lifetime.
First-Party SNT
Funded with an individual’s own assets, often after receipt of a personal injury settlement or inheritance. These funds must be used during the individual’s lifetime, with any remainder reimbursing Medicaid.
Why Planning with a Special Needs Attorney Matters
Improper estate planning can unintentionally disqualify a loved one from vital benefits. At Herndon Law, PC, we help families in Henrico, Richmond, Glen Allen, Goochland, and surrounding areas in Virginia create tailored special needs trusts that secure long-term care and financial protection. Let us provide you with peace of mind, knowing your loved one will be cared for—now and in the future.
Guardianship and Powers of Attorney: Preparing for the Unexpected
Cognitive decline or sudden illness or injury can leave adults unable to manage their own affairs. When children with special needs reach adulthood, they may need help making decisions about their personal care and finances. Without proper legal documents, loved ones may face a complex and expensive guardianship process.
Why Every Adult Needs a Power of Attorney
When someone loses the ability
to manage their assets and make informed medical decisions – whether as a result of
illness, injury, or cognitive decline due to aging – unless they have the appropriate legal
documents in place, their family must go through stressful, expensive, and time-
consuming court proceedings to obtain guardianship and conservatorship so the family
can handle financial and medical affairs on their behalf.
Two essential documents are:
- A Financial Power of Attorney that enables a trusted individual to handle financial and legal matters, such as managing accounts and paying bills, and
- An Advance Medical Directive that grants a trusted individual the authority to make medical decisions if the senior is unable to do so.
Having these documents in place ensures that a trusted individual can act in the best interest of a loved one when needed.
When Court Intervention is Necessary
If an adult who has not signed a power of attorney and advance medical directive becomes incapacitated, family members may need to seek guardianship and conservatorship through the court. Similarly, once over 18, individuals with developmental or cognitive disabilities may need a guardian to help with everyday decisions regarding support and care. At Herndon Law, PC, we help Henrico families navigate the guardianship process with care and efficiency.
Trusted Legal Support for Virginia Families
Long-term care, Medicaid, and special needs planning can be complex, but having the right legal team makes the process much easier. Families in Henrico, Richmond, Glen Allen, Goochland, and surrounding areas in Virginia, turn to Herndon Law, PC, for compassionate, personalized guidance.
Take the Next Step in Protecting Your Future
Long-term care and asset protection require careful planning. Whether you need to qualify for Medicaid, create a power of attorney, or establish a trust, having the right legal support ensures peace of mind.
Herndon Law, PC, helps families protect assets, secure long-term care, and navigate complex Medicaid laws. Don’t wait until a crisis arises—schedule a consultation today to start planning for your future.