Florida Medicaid Planning and Asset Protection
“Medicaid planning” consists of repositioning assets to create Medicaid eligibility. Many times, without long-term care insurance or proper planning, a sick person’s assets are depleted by long-term care costs leaving their well spouse destitute. Because Medicaid rules are complex, it is important to consult an elder law attorney regarding your options. In fact, on January 15, 2015, the Florida Supreme Court issued an opinion that non-attorney Medicaid planners that engage in Medicaid planning activities are practicing law without a license. Participating in the unlicensed practice of law in Florida is a third-degree felony, punishable by up to five years in prison.
The need for this Florida Supreme Court advisory opinion arose from an increase in non-attorney Medicaid planners around Florida. Their actions have been largely unregulated and have resulted in harm to Medicaid applicants including denial of benefits, negative tax consequences, loss of assets, and exploitation.
To read the Florida Supreme Court Opinion, click here.
The attorneys and staff at Prather & Swank, P.A. can guide you through the Medicaid process to ensure you maintain independence and peace of mind should the need for long-term care arise. If you are seeking legal representation or have questions about Medicaid Planning, contact Prather & Swank, P.A. at 239-288-4315 or fill out our online form.