Like other Atlanta residents, you may not have known that your estate may be responsible for paying back certain federal benefits you receive at the end of your life. For example, if your estate is valued at more than $25,000, you owned a home at the time of your death and you received Medicaid benefits, the state of Georgia may be required to put a lien on your home in order to recover the monetary value of those benefits. With the right planning, it may be possible to avoid this eventuality.
You more than likely want to make sure that your loved ones receive as much of your estate as possible, so you will need to take steps to help ensure that happens. Nursing homes are expensive, and many people rely on Medicaid to afford them. When you move out of your family home and into a home using these benefits, the fate of your home, and those family members still living there, may be jeopardized if your name is still on the deed.
Estate planning provides a variety of ways for you to protect your family home from Medicaid estate recovery efforts in Georgia. The issue is that what may work for one family will not work for another. Since every family's circumstances are unique, it is important to carefully review your situation in order to reveal the best possible options.
Due to the complexities involved in both estate planning and the receipt of Medicaid benefits, it would be inadvisable to attempt to resolve this issue alone. Working with an estate-planning attorney with experience in helping individuals like you avoid Medicaid estate recovery efforts could help ensure that your family receives the maximum amount of your estate and does not end up with a lien on your family home. Once you have a plan in place, you can give you and your family much needed peace of mind.