Montgomery, Chester, Delaware and Bucks County Medicaid Planning Attorney - Looking at the Big Picture!
It’s important to consider tax advantages and deductions when undertaking asset protection planning. In general, the conventional wisdom states that the less you pay in taxes, the more of your assets are preserved. However, looking at the big picture, it can often be better to forego some tax advantages and deductions in order to retain a certain tax status.
Medicaid is meant to provide for those who have lost the means to provide for themselves. This means that there are certain standards and limits regarding how much you can own in assets while still being eligible for assistance.
Oftentimes, in Medicaid and Asset Protection Planning, people don’t consider that they might be better served by paying more taxes. This can help them preserve their existing assets while still remaining eligible for the Medicaid coverage that may support them for the rest of their lives.
The law offices of Robert M. Slutsky Associates understands the tax implications, advantages and/or disadvantages and can help you determine them based on your circumstances.
For more information about Medicaid Planning, Elder Law and Estate Administration, click here to contact us via email or call Robert M. Slutsky Associates today at (610) 940-0650. We are able to take appointments in our office, located in Montgomery County, Pennsylvania or at your Philadelphia area location.
