Estate Planning is only for wealthy people. False. Even if your only assets are a home or a few bank accounts and CDs, we can help you maximize what you can leave to your family.
If my loved one has to go to a nursing home, Medicaid can take all of his or her assets and even force us to sell the family home. False. Despite what the social worker at the nursing home might tell you, with proper planning, your loved one can qualify for Medicaid WITHOUT having to spend down everything he or she has worked his or her lifetime to acquire.
My spouse or parent is about to enter long-term care. It’s too late to do anything. False. We help people in good health, people who are worried about future health concerns and those who have a spouse, parent or loved one who is about to unexpectedly enter long-term care.
If I transfer or give away my assets, I won’t be able to get Medicaid for at least five years. False. There are numerous strategies that knowledgeable professions can use to shorten or completely bypass the five-year “look-back” period. Every single case is different and at the Elder Law Center of Northern Kentucky we offer our clients a plan customized exactly for their particular needs and situation.
I’ve spent the past few months taking care of my parents so they didn’t have to be in a nursing home, but I’m not entitled to be compensated for my time and efforts. False. You are entitled to be paid and you may even be possible to transfer their home to you without incurring any problems with Medicaid.
Estate planning is expensive. False. Long-term care is what is expensive. The average cost for long-term care in Kentucky exceeds $6,000 per month, and often costs as much as $12,000 per month. At that rate, assets rapidly disappear. We have no charge for an initial office consultation and if we cannot structure a plan to save you money, you pay us nothing. And what we do charge is minimal compared to the value of what we are able to protect for our clients.
Contact us for a complimentary initial appointment. We offer evening and weekend appointments and we’ll be glad to schedule a time that works for you. We look forward to serving you.