A Medicaid Assessment by Olsen Law Group

What is a Medicaid Assessment?

Attorney Tom Olsen: You offer what's called a Medicaid assessment, or you get some detail from people about what it is they own, what kind of assets they own, what the amounts are. Then you do a Medicaid assessment for them. Tell the listeners about that. Attorney Robert Hidock: When we do a Medicaid assessment, and it is one of my favorite things to do because it's about planning. I will sit down with a couple or if it's a widow or widower, I will sit down with them, we'll go over all their income, we'll go over their assets, I will tell them, okay, if you're over Medicaids income limit, when the time comes, you will need a qualified income trust. We will go over every asset by every asset, I will tell them what assets are protected or not countable assets, what our assets are countable. Then we develop a customized plan of how we're going to protect every one of their assets, from spouse to spouse or from spouse to child, our children. Either way, always design, Tom, to replicate their estate plan. Every Medicaid assessment we do is customized specifically to them. This isn't cookie-cutter, we spend a lot of time with them all, so they are ready in case something happens. We don't want somebody at the last minute, oh my God, what are we going to do? We want to have a plan. When someone comes to the Olsen Law Group, you give them a nice binder with all their estate planning documents. From our side of it, we want them to carry out their estate plan. We try and use the Medicaid-compliant tools that we recommend in our Medicaid assessment. Put it in a nice binder. Hopefully, they're keeping it right next to yours, and God forbid if that medical event happens. They pull that binder off the shelf, they call me up. I take care of business the way we planned on doing it, and they worry about their loved ones. Attorney Tom Olsen: I've heard you refer to it before as a blueprint, so a blueprint for what would happen if somebody went into a nursing home and you'll make it available to the kids so they know exactly what to do at the time. That's a Medicaid assessment that's offered to you folks here at the Olsen Law Group.