Affording Long-Term Care Through Annuities
Are you considering the purchase of an annuity? If so, it is important to seek out the advice of a skilled and knowledgeable elder law attorney. Not all annuities will help protect you long-term care costs nor help you to obtain Medicaid eligibility.
Pittsburgh Annuities and Long-Term Care Attorney
The Pittsburgh long-term care lawyers at Sikov and Love, P.A., can help you to develop long-term care plans that meet your needs. Our lawyers can assist you in selecting the tools necessary to accomplish your goals, including immediate annuities.
For over 25 years, we have been helping clients throughout western Pennsylvania with their elder law needs. We have the experience necessary to help you feel confident in the decisions you make for your future.
How Annuities Work
An annuity is an agreement between you and an insurance company in which you pay a lump sum, and the insurer will pay you back in installments during your life expectancy. Not all annuities, however, are the same.
If your insurer begins paying you back immediately, this is known as an immediate annuity. If the insurer pays you back at a later date, it is a deferred annuity.
Only immediate annuities can help to protect your assets and help you to be eligible for medical assistance benefits. Even immediate annuities must meet specific state and federal requirements in order to help you or your spouse qualify for government benefits. It is important to have an attorney help you select an annuity that meets your needs. At our firm, we will advise you about an appropriate single premium immediate annuity to help you and your family protect your assets.
Contact an Allegheny County Asset Protection Annuity Lawyer
If you have concerns or questions about an asset protection annuity, the attorneys at our Allegheny County, Pennsylvania firm can help you. Contact our elder law lawyers to set up an appointment.