Elder Law and Medicaid Planning Attorneys Illinois
Medicaid is a State and Federally funded program to provide for the cost of Long-Term Skilled Nursing to those who financially qualify. It is not the same thing as Medicare. If you, a spouse or loved one has a long term illness and requires 24-hour care in a nursing home (skilled nursing facility), you may qualify for these benefits that will pay for the majority of your care and prescriptions.
If you have a spouse or loved one who is already on Medicaid and has a home, the government can recover any monies they spent on their care upon the death of your loved one. Recovery means the government will place a claim on existing assets of your loved one after they die, sometimes taking the whole estate! You can protect a home from recovery by very specific legal actions and with the help of a qualified attorney.
There are many myths out there about getting Medicaid and how to do it. However, if you follow any of the misinformation, you can risk not getting your loved one qualified or losing your home!
The good news is we are living longer. The bad news is we are living longer. One of the biggest fears of our clients is outliving their assets. When a person is diagnosed with a debilitating illness or disease, the family goes into crisis mode, and is immediately stressed out over the cost of care for such family member.
Sarah had never given much thought to nursing homes. All she knew about them was that her father did not want to go to one. He had made his intentions clear on many occasions. As her dad got older, Sarah and her siblings resolved that if anything ever happened to him, they would work together to take care of him at home. No one looked at long-term care options,and no one worried about paying for nursing home care.
Then, when Sarah’s dad was 75, he suffered a series of strokes. At first, the family struggled to take care of him on their own. Before too long, though, it became apparent that he needed more care than they could provide. A nursing home was their only option.
Sarah did her research, and found a nice place nearby. When she found out how much her dad’s room would cost, she was rendered speechless: almost $92,000 a year! She was even more shocked to find out this was about average, nationally speaking.
Dad had always saved diligently, and he had hoped to pass a small inheritance on to each of his children. However, after three years in the nursing home, the savings he had worked a lifetime to build had vanished. So had his children’s inheritances. At this point, Sarah helped him apply for Medicaid. He qualified, and his Medicaid benefits picked up where his savings had left off. Not only did they lose life savings but the state “recovered” dad’s house after his death to reimburse itself for money it had spent on dad’s care.
What Sarah and her dad didn’t know was that he didn’t have to impoverish himself in order to qualify for Medicaid…and neither do you. Additionally, their home could have been preserved for the kids without jeopardizing Medicaid benefits.
The need for nursing home care does not have to catch you off guard. A visit with a qualified estate planning and elder law attorney such as Maritess Bott – one who has experience helping families sort through their long-term care nursing home options and understands how the Medicaid program might apply to your situation – can help you understand the choices available to you and prepare for the future with a clear plan for how to pay for a nursing home without going broke or losing the family home.
What is medicaid?
For those with low income, medicaid is America’s most widely used public health insurance program. The program covers 1 in 5 Americans, and covers many with varying levels of cost needs for their specific needs for care. Medicaid is the primary source of long term care coverage for Americans. Most enrollees of the program lack access to other affordable health insurance, the assistance of an attorney who thoroughly understands the program and what enrolling in the program means for the future of family finances and property. Having a qualified professional to advocate for your family makes a big difference in understanding what the future will look like and planning for it accordingly.
The support of a qualified professional can make the process of planning for medicaid less complicated to comprehend, and will help to ensure there is a clear understanding of the inherent risks of claiming medicaid, nuances of local, state, and federal laws are considered, and also various other appropriate tax laws as well as legal factors are explained in detail.
Illinois elder law and medicaid lawyer Maritess Bott of Bott & Associates, LTD promises to ensure your legacy continues, and your property, assets, and affairs are treated with careful consideration to detail, taking into consideration subtleties of regional state, and also federal legislations as they relate your unique situation. We work to deliver comfort and peace of mind during what can be a stressful and emotional period in one’s life.
Proven excellence in elder law
At Bott & Associates, LTD, our team strives to provide personalized assistance with all of your estate planning related affairs. Our estate planning lawyer has been practicing law for over 20 years, and is one of only a handful of members of the American Academy of Estate Planning lawyers, in the Chicagoland area. The American Academy of Estate Planning Attorneys is a national exclusive organization dedicated to promoting excellence in estate planning.
A personalized approach to planning for medicaid
We will aid with planning for medicaid and all other elder-law related needs. Working closely with you to create an actionable plan that meets your needs, and explaining how laws and regulations pertain to your specific needs will help you be confident in making decisions related to applying and claiming medicaid. Our years of experience serving clients with estate planning, medicaid planning, and elder law, help our clients find comfort in knowing they are making informed decisions. We encourage you to contact our office to arrange a cost-free half-hour consultation.
The guidance and also instructions of our elder law and medicaid planning attorneys are an essential component to creating a plan to pay for extended or long term care and will help build confidence that all decisions that are made regarding your loved one are aligned with their best interests.
To learn more about our Illinois medicaid planning and elder law attorney services, contact Bott & Associates LTD to arrange a free consultation.