Tag: financial planning for seniors

Categories
Senior Real Estate

Real Estate In Your Senior Years

Real Estate In Your Senior Years

Option 1: Get The Home Ready and Sell It

Our team can help you or your loved ones put together a comprehensive plan regarding your real estate and how that real estate will play into your long term goals.  We can help you navigate step by step the transition into a new living arrangement that will best fit you or your loved ones needs.  
Here is an overview of our process:
  1. We will start with a free consultation where we will travel to your home and assess the condition of the property to see if it would make financial sense to make some changes, or if it would be most beneficial to sell the house in “as-is” condition.
  2. We will help you understand the value of the property and assess what if any needs you might have in preparing the house for sell. Examples of this could be someone to help organize, pack, clean out, or make repairs where it makes sense. If the property needs work, we will help you with our network of vendors who can provide different options when it comes to financing the work needed.
  3. We will put together a plan so that you understand every step of the process and how we can help you at each stage. Moving is a stressful time so let us help you take the stress out of it!
  4. Once we get to the point of listing the house for sell, we will help educate you as to the most effective marketing tools that will be used to help you achieve your real estate goals.
 

Option 2: Sell The Home As Is

If you’re in a situation where your mom needs to move into an assisted living facility or you need to help her get into rehab, it can be overwhelming. We understand.

You might live out of state and be trying to help her from across the country… or you might have a job or family that doesn’t allow you to spend hours on end going through every item that is in the house or clearing everything out, decluttering, organizing things or working with vendors or contractors to fix things.

There is so much to get done and not enough hours in the day to get them done!

There is an alternative if you need money sooner than later– selling is still an option. You can choose to not do anything to the home and have someone purchase the home as-is. No need to clear everything out, clean out the house, getting professional photographers involved…

There are always things you want to consider when deciding what option is right for you. But if it’s something that needs done fast without having time or energy for all those other tasks? Reach out! We can walk you through all of the steps of what that would look like and determine if this would be best for your family.

Categories
Medicaid

Can I Transfer My Assets To My Kids And Still Get On Medicaid?

Can I Transfer My Assets To My Kids And Still Get On Medicaid?

Getting on Medicaid can be a great resource for individuals with limited income and assets who need help paying for their medical expenses. However, it’s important to understand the asset limit requirements and the potential consequences of gifting assets before applying for Medicaid.

Medicaid requires individuals to have below a certain number of assets before they can qualify for the program. This can be challenging for some people, especially if they have assets that they wish to pass on to their loved ones. While giving assets away can seem like a good solution, Medicaid has strict guidelines about gift giving, and frowns upon this practice.

Medicaid argues that if you have the available means to pay for medical expenses out of pocket, you should do so before relying on the state to care for you. This makes sense, as Medicaid is meant to help those who are in financial need. If individuals are giving away their assets instead of using them to pay for medical care, it compromises the integrity of the program.

This is why it is crucial to discuss asset protection strategies with qualified Medicaid planning professionals before giving away assets. There are several ways to make gifts in a Medicaid-compliant way, so you can preserve your assets while still qualifying for the program. It’s important to know your options and explore all possibilities before making any decisions.

At Utah Senior Planning, we understand the desire to leave a legacy for your loved ones. That’s why we are dedicated to helping individuals who wish to preserve their assets through Medicaid planning strategies. With our well-thought-out plans and strategies, we enable our clients to achieve success and still qualify for Medicaid. 

If you are considering gifting assets or need help with Medicaid planning, don’t hesitate to contact us. We’re here to help you navigate the process and find the best solution for your specific situation.

 
Categories
Our Process

What are your fees?

What Are Your Fees?

At Utah Senior Planning, we believe that transparency and open communication are the keys to building strong relationships with our clients. That’s why we offer a free consultation to all of our clients, so that you can get a better understanding of how our services work and how we can help you with your case.

During this consultation, we’ll provide you with a brief overview of the services we offer and how they work: 

Medicaid Eligibility Consulting

Navigating the complexities of Medicaid eligibility can be overwhelming. Our Medicaid eligibility consulting services provide expert guidance to help you understand the requirements and maximize your chances of qualifying for this essential program. We’ll work with you to assess your situation, gather necessary documents, and guide you through the application process, ensuring you access the care you need.

Final Expense Planning

Ensure your loved ones are financially secure during a difficult time with our comprehensive final expense planning services. We understand the emotional challenges that come with end-of-life preparations. Our experts work closely with you to create a tailored plan that covers funeral costs, allowing your family to focus on honoring your memory without the burden of unexpected expenses.

Medicare Insurance

Make informed decisions about your healthcare coverage with our Medicare insurance services. Our experienced team will guide you through the intricacies of Medicare, helping you choose the right plan that aligns with your medical needs and budget. With our support, you can navigate the various options and feel confident in your Medicare choices.

Placement Services

Finding the right senior living option can be a daunting task. Our placement services take the stress out of this process by helping you identify the ideal assisted living or nursing facility for you or your loved one. We consider your preferences, medical requirements, and budget to ensure a smooth transition into a comfortable and supportive living environment.

New Choices Waiver

Access the support and services you need to remain in your home with our New Choices Waiver assistance. We’ll guide you through the application process, helping you understand your eligibility and the services available. Our goal is to empower you to age in place comfortably while receiving the necessary care.

Estate Planning

Protect your assets and ensure your wishes are carried out with our estate planning services. Our experienced professionals will work closely with you to create a comprehensive estate plan that includes wills, trusts, and other legal instruments. With a well-crafted estate plan, you can provide for your loved ones and minimize potential challenges in the future.

Veteran’s Benefits

If you’re a veteran or a surviving spouse, you may be eligible for valuable benefits. Our veteran’s benefits services help you navigate the application process and access the support you deserve. From healthcare benefits to pension programs, we’ll assist you in securing the benefits that honor your service.

Tax Preparation

Tax season doesn’t have to be stressful for seniors. Our tax preparation services cater to your specific financial situation, ensuring you maximize deductions and credits. Let us handle the paperwork so you can have peace of mind during tax time.

Senior Real Estate

Transitioning to a new living situation as a senior involves unique considerations. Our senior real estate services provide tailored solutions for selling or purchasing property. We understand the intricacies of senior living needs and work to ensure a seamless real estate experience.

We are happy to answer any questions you might have. We understand that every client is unique, and that’s why we take the time to get to know you and your situation before we make any recommendations.

When it comes to fees, we believe that honesty is the best policy. In most cases, fees are determined by the level of planning strategies that need to be implemented in order to get your case approved. If your case doesn’t require a significant amount of planning on our behalf, many times the facilities that we contract with will compensate us separately on your behalf and you will have no fees. (Utah Senior Planning is a private business that works in collaboration with care facilities and state caseworkers, we serve as an unbiased third party to ensure that the integrity of the Medicaid system is maintained while also helping clients take advantage of the state policies to help preserve assets).

However, if there are fees associated with our services, we make sure to let you know upfront during the consultation. We believe in being fully transparent about what we charge so that there are no surprises down the road.

We want you to feel confident in your decision to work with us, which is why we offer a no-pressure approach to our consultations. We’re here to provide you with the information you need to make an informed decision about your case.

Don’t hesitate to contact us to learn more about how we can help you with your situation. Our team of experienced professionals is here to guide you every step of the way.