What is Family Asset Protection Planning?
Over fifteen years ago, we created a successful and comprehensive method of protecting our clients’ assets against the costs of long-term care. With our planning, our clients legally and ethically obtain government benefits often worth hundreds of thousands of dollars to pay towards home care, assisted living and nursing home care. Instead of spending down to impoverishment and then going on Medicaid, our clients are able to keep their savings and get the benefits to get more and better care.
We literally wrote the book on Elder Law, authoring the bestselling text for lawyers nationally and in the State of Florida. We also developed a fixed fee structure where the client pays an agreed flat-fee that includes everything with no surprises and no hourly ratehe client knows exactly what the costs are up front. There are no hourly rates and no surprises down the road. Family Asset Protection Planning (FAPP) covers six different modalities the firm uses to help its clients:
(1) Asset protection in a long-term care context. Part of asset protection means the implementation of planning strategies designed to achieve eligibility for certain need–based government programs including certain Medicaid and Veteran’s benefits as appropriate and available.
(2) Estate Planning through the use of wills, trusts and different techniques of holding title, as appropriate. The goal of estate planning is to ensure that a client’s after-death wishes are honored but in such a way as to be consistent with the client’s asset protection goals. Most every client already comes with an estate plan (often as a referral from the estate planning attorney) but these plans typically need to be modified to meet the new objectives.
(3) Incapacity Planning is primarily directed to plan for what should happen if and as incapacity begins to affect a client and to deal with current incapacity issues. Regular durable power of attorneys do not suffice. Incapacity planning includes end-of-life health care decision-making, specialized powers of attorney and sometimes trusts and other devices.
(4) Protection against Estate Recovery is designed to prevent unnecessary loss of assets to the government upon the death of a Medicaid recipient.
(5) Application for Benefits: The firm will handle the application for public benefits by completing application materials and dealing with the government all the way through the eligibility determination. We show the government everything that we have done by opening the books and explaining the law to the government case workers.
(6) Guidance for Quality of Life: The firm is not a health care provider and we provide no medical advice. However, we have significant knowledge, experience and contacts within the elder care system. We leverage these benefits to the advantage of our clients through a structured process of providing non-clinical caregiving guidance.
Whether FAPP is right for you depends on many factors not covered in this article. The firm must pre-qualify prospective clients during an initial consultation.
The firm has an excellent track record of proven results and has earned a national reputation for our progress (“Google ” us to check out what others have to say!).
We can help achieve goals including Medicaid eligibility in weeks or months (no 5-year waiting periods necessary here).
To learn more and to see if our planning is right for you, set an initial consultation. When you call the office, you will be told what to expect and you will then shortly receive more information in the mail in advance of your meeting.
If you need the help, I hope we can guide you through the process. With experienced and caring attorneys and staff, we have put together a nationally recognized system and one that makes a tremendous difference in people’s lives. How fortunate I am to be in such a rewarding job. I personally invite you to come and meet us.