Medicaid Planning

Illinois Medicaid Planning Lawyer

Many families take advantage of Medicaid benefits to offset the cost of long-term care needs. However, this program has income limits, and unfortunately, many people are forced to deplete their assets before being deemed eligible. Our Illinois Medicaid planning lawyer can help make sure this doesn’t happen. Since 2007, Bott & Associates, Ltd. has protected the wealth and legacy of Illinois residents. Let us help structure your estate so that your assets are preserved when applying for Medicaid.

Medicaid Planning Attorney Serving Illinois

The average cost of a nursing home in Illinois ranges from $8,000-$11,000 a month. Medicaid benefits can cover the expensive, but necessary care you or a loved one needs. Eligibility is based on poverty levels, so seniors with significant assets will not qualify. This can be an obstacle for older family members who want to preserve their legacy for their heirs.

Our Illinois Medicaid planning lawyer is well-versed in elder law and can help strategize a plan to keep your assets in the family. We can explain how to transfer assets so that they are not included in your income when applying for benefits. The concept may seem simple, but there are several regulations that monitor how and when assets are transferred. Compliance is key to avoiding fines or other consequences.

For example, there is a look-back period, which covers the five years before applying for Medicaid. Transfers occurring during this time can be audited and may lead to financial penalties. Our estate planning attorney will make sure this doesn’t happen.

If you are denied benefits, that could put your family in a tough financial situation. But early Medicaid planning, alongside a will or trust, can protect your wealth. Additionally, delayed estate planning can cause other challenges, including confusion over your wishes. You can’t predict the future, and leaving your loved ones without directives creates a stressful situation and could mean it is too late to save the assets you’ve worked so hard for.

Why Experience Matters in Medicaid Planning

Too many seniors are forced to sell their homes or other assets to pay for long-term care. Given how expensive nursing homes and hospice facilities are, those funds are likely to deplete quickly. That is where Medicaid benefits come in to cover the remaining costs throughout the end of life.

A house owned for decades can be gone in an instant, and the sale only makes a dent in care expenses. It leaves many families wondering what the point of liquidating cherished assets was when their loved one ends up on Medicaid anyway. However, there is a way to protect your real estate and other valuables, and our estate law firm can help you do it.

For over twenty years, our lawyers have helped seniors and their families with the Medicaid application process. Get peace of mind from our knowledgeable elder law advice and commitment to safeguarding your wealth. Everyone can benefit from our estate planning solutions, including:

• Wills and trusts
• Power of attorney
• Medicaid planning
• Asset protection

Our lead attorney, Maritess Bott, is one of a select few lawyers in Chicago granted a membership to the American Academy of Estate Planning Attorneys, an exclusive organization promoting excellence in estate law.

Don’t wait to figure out your Medicaid benefits until you need them. Early strategizing is the only way to protect your assets and pass on your legacy to your loved ones. Get started today by scheduling a consultation with our Illinois Medicaid planning lawyer. Our team at Bott & Associates, Ltd. looks forward to guiding you and your family through estate planning solutions that meet your goals and wishes.