Finally, a one-stop resource for long term care planning. Let our umbrella of guidance shelter you from the long term care cost storm. Sheltering customers since 2001.
Breaking the ALTCS Myths
Myth: (noun) A fiction or half-truth, especially one that forms part of an ideology.
Myth #1: Only an Attorney can assist you with ALTCS Planning.
The last few years has created an abundance of law firms who state that they specialize in ALTCS planning.The truth is that our ALTCS planning firm has more experienceassisting families with their ALTCS needs than most attorneys in the state.At this brochure’s printing, our staff have a combined 46+ years experience.We have also found that many of the firms that decide to do ALTCS Planning eventually stop offering that service.Several of those firms now refer potential ALTCS planning clients to our firm.
Myth # 2 : ALTCS Planning should cost $8,000 and up.
You can pay $8,000 and up to have a law firm perform ALTCS planning if you would like, but we think that the money saved using our firm's services should be spent on your family.Our fees are many times 30% to 50% less than our competitors.This doesn't mean you get 30% to 50% less work, it just means you pay less, so your loved ones have more.In some law firms, the attorney himself or someone in the firm may be a registered securities agent, which means if he or she recommends an annuityfor your loved one, the firm may be collecting a sizeable commission on top of the ALTCS planning fees.
Myth #3: ALTCS takes your house, car, and belongings once you qualify for help.
This is not always true. Although states are mandated to perform “estate recovery,” this doesn't happen until after the death of the ALTCS member.We can provide information about exemptions and waivers from estate recovery.
Myth # 4 : If I have given away money or assets, I won’t qualify for help for at least 5 years.
This may not be true.ALTCS may calculate a period of ineligibility for your case but there are several sets of rules to determine that period of ineligibility.Meeting with our consultant will help you know if your gift will cause ineligibility for the program.
Myth #5: My father is currently in an assisted living home, and I was told he won't qualify for ALTCS.
Anyone can apply for the program at any time regardless of their living arrangement. However, to be approved, an applicant who resides in an assisted living home must reside in one that has an AHCCCS Provider ID number.
Myth #6: I don’t want mom to live in a nursing home, and that is all ALTCS will pay for.
ALTCS pays for and willprovide services in nursing homes, assisted living homes and centers, foster care homes, and even in your loved one’s home.
Myth #7: My mother makes too much money to qualify for ALTCS Services.
Although ALTCS has income qualifications, a person can set up a Miller Trust (Income-Only Trust) and still possibly qualify for services. Miller Trusts at most law firms cost more than $1000.Our Miller Trust can be purchased for $750.
DID YOU KNOW?
The last few years has created an abundance of law firms who state that they specialize in ALTCS / Medicaid Planning.
The truth is that many of these firms have chosen to add Medicaid Planning as a service because the average charge for Medicaid Planning has increased.
Many law firms are charging well in excess of $8,000.00 to help their clients obtain Medicaid benefits.
Some of these law firms do not have any experience in this area but charge their incoming clients to do the research to get the answers to their questions.
Additionally, these law firms have attorneys who are also registered securities agents.
That means if the attorney recommends an annuity as part of the planning, the firm or the attorney may be collecting a sizeable commission on top of the ALTCS Planning fees.
Take for example a case in which a local law firm recommended to a client that they spend down their $620,000.00 (yes, that’s six hundred twenty thousand dollars!)
to qualify for ALTCS by purchasing a Single Premium Immediate Annuity.
The commission to the attorney in this case was approximately 3% of the annuity value or a whopping $18,600.00.
That, coupled with the ALTCS planning fee, would have cost the client over $26,000.00 to get help.
Firstly, why would someone with almost three quarters of a million dollars need Medicaid?
And secondly, did the attorney disclose the $18,600.00 commission? We don’t know, but wouldn’t you want to??!!??
You may want to ask attorneys to whom you’re referred to disclose all commissions paid to them or to their staff.
To check if the attorney or staff you are working with or referring to is a registered insurance agent, go to
http://az.gov/app/doilookup/ProfessionalSearch
.
Our Solutions To These Myths
Before you sign on the dotted line with another ALTCS planning firm, give us a call, set up an initial appointment and see for yourself that our experienced staff can accomplish your goals and meet your long term care planning needs with compassion, skill and precision.
How Are We Different?
ALTCS Planning.net offers a one-stop resource for long term care planning at a cost-effective price. We realize that applying for government programs is free; however, more often than not applicants have to apply several times before they understand what the requirements are and how to comply with them.
This is not only frustrating to the applicant, but also time-consuming and a drain on the applicants finances.
What good is free when you end up paying with your time and sometimes, your money, too?
The truth is that ALTCS Planning.net will direct your family with expertise, compassion and care.
Give us a call today.
480/494.4968
ALTCS Planning.net is not affiliated with AHCCCS / ALTCS / VA.
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The information on this website is provided "as is" for general information purposes only. The content of this website may not be comprehensive, up-to-date, or applicable in all jursdictions. The content may not reflect the views of Montgomery & Associates, Inc. (DBA: ALTCS Planning.net) and Montgomery & Associates, Inc. (DBA: ALTCS Planning.net) makes no warranty of any kind, whether express or implied, with respect to any information provided on this website. Montgomery & Associates, Inc. (DBA: ALTCS Planning.net) assumes no liability for any errors or omissions in the content on this website and the information provided is not to be construed as legal advice. The information is intended to provide a general, factual overview of legal documents and planning options available. For legal matters you should always seek counsel of a qualified attorney licensed in your jurisdiction. Use of any information on this website is at your own risk.
**IMPORTANT NOTICE**
Our CLDP, Carol Aragon-Montgomery, prepares legal documents.OUR CLDP IS NOT AN ATTORNEY AT LAW AND IS NOT EMPLOYED BY ATTORNEYS AT LAW AND CANNOT GIVE LEGAL ADVICE.Your communications with our CLDP are kept CONFIDENTIAL by our CLDP, but since our CLDP is not an attorney at law, such communications are NOT PRIVILEGED (i.e., immune from Subpoena). Our CLDP can give you general factual information pertaining to legal rights, procedures, or options available to you in a legal matter when you are not represented by an attorney.Our CLDP cannot give you specific legal advice, opinions, or recommendations about your legal rights, remedies, defenses, options, or strategies. Please note that the Long Term Care Planning Services are of a financial planning nature and are not specific "legal" advice. Prices subject to change without notice.
