Elder Law 

Elder Law and Medicaid Planning

What is Elder Law?

Elder law is a specialized area of legal practice, covering estate planning, wills, trusts, arrangements for care, social security and retirement benefits, and protection against elder abuse and exploitation. The goal of elder law planning is to prepare your aging loved ones for a secure, long-term future while living a life with dignity and respect. 

What is Medicaid Planning?

Medicaid Planning is part of long-term care planning where your assets are protected from the threat of long-term care expenses. You saved your whole life and think you’ll have enough money for whatever happens, only to suffer a stroke, major heart attack or get an Alzheimer’s diagnosis unexpectedly. What’s next?

Who Needs Long-Term Planning?

Most people turning age 65 will need long-term care services at some point in their lives and it will be very expensive. It is inevitable that settings such as in-home assistance, an assisted living facility or a nursing home, will become a necessity to accommodate the high demands for the elderly population.

In the United States, the cost of a nursing home ranges from $5,000 to $12,000 or more per month, with the national average about $7,000 per month or $85,000 per year, depending on the state. Assisted living facilities cost about half as much as nursing homes, ranging from $2,700 to $5,000 per month, with the national average about $3,500. And, the cost of home care depends on the number of hours per week provided. Faced with the possibility of paying for such costly care, seniors are forced to seek alternative ways such as Medicaid to help defray the long-term care expense.

Let us help you develop a comprehensive estate plan that fulfills your wishes and preferences in the future. Moreover, to protect your assets in the event you become incapacitated and require assisted living or nursing home care.

The Importance of Planning for Elder Care Years

Planning for “elder care” years is where many people fall short in their lives. The end result from not planning is that an unnecessary burden is placed on your loved ones (adult children) to figure it all out. And, as much as your adult children love you and want to do right by you, they can’t possibly know what your wishes are because you never told them. So, they end up doing the best they can.

Telling your loved ones what you want in your      “elder care” years will not only give you peace of mind, but will also keep your family out of court and conflict.

The Core Areas of Elder Law Are:

• Health and Long-Term Care Planning (In-Home Assistance, Assisting Living Facilities, Nursing Homes)
• Public Benefits (Medicare and Medicaid)
• Surrogate Decision Making (Guardian or Attorney-in-Fact)
• Guardianship (Legal capacity issues)
• Estate Planning (Wills, Trusts, Powers of Attorney)
• Probate and Trust Administration (Disposition of estates upon death)

Other issues are:

• Elder Abuse, Neglect, and Exploitation
• End-of-Life Planning
• Retirement Planning, Social Security Benefits (Food Stamps, Supplemental Security Income, Supplemental Security Disability Income)