Experienced Kentucky and Ohio Elder Law Attorneys
Protecting Your Family’s Financial Future
Most of us have heard horror stories about people who have lost their homes and most of their savings because a loved one has required lengthy hospitalization and rehabilitation or long-term nursing care. A decent nursing home in our area costs at least $10,000 per month and Medicare only pays part of that cost and only for 100 days.
At Elder Care Center we help people in two types of situations: Crisis Planning takes place when a loved one has or will soon be entering long-term care and Advance Planning which involves taking steps to protect assets when the person or couple is still healthy or have been recently diagnosed with a progressive disease like Alzheimer’s or Parkinson’s.
We take a look at each individual case and formulate the best plan to ensure that you leave as much as possible for your family. We use things like:
- Medicaid Asset Protection Trusts (MAPTs);
- Life Estate deeds;
- Caregiver agreements;
- “Spend down” plans for assets so that you can qualify for Medicaid as soon as possible; and
- Restructuring legal ownership and debt–and may more creative devices.
If you are facing a crisis, we can help. It is important, however, is to contact us BEFORE you apply for Medicaid. If you are in good health, or you or your spouse have had a recent diagnosis of a progressive illness, we can do so much more.
Please find out NOW what you need to do BEFORE someone suffers a stroke or a bad fall or a devastating diagnosis. Nobody should have to forfeit everything they’ve worked for simply because they need long-term care.
The most important thing you can do to secure your family’s financial future is to act NOW, while you are healthy. Because of Medicaid’s “look-back” penalty period, it can, literally, mean that all your long-term care expenses will be paid by Medicaid, allowing you to leave your house and all that you’ve worked for to your family or a favorite charity.
Please contact us for a free consultation, or come to one of our seminars. You will not be sorry.