What’s the difference between an elder planner or a non-attorney Medicaid planner and an elder law attorney who represents you?
In my opinion, there is a world of difference. It’s the way we approach the case. Attorneys represent people in helping them achieve their goals. The planners that are operating in this area are often licensed annuity persons who are brought to this area of planning because it presents an opportunity to sell an annuity.
Think about it for a second: in this area of long-term care planning, you’re trying to apply for a means-based program; they’re going to test all your income and assets. You’re going to have to tell someone everything you’ve got—all your income and all your assets. So I’ll ask you this—who do you want that to be? Someone who represents only you, or someone who (now knowing what your assets are) will recommend a financial product that is commissioned by which they benefit?