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When people are looking to pay for nursing home care by qualifying for Medicaid, a big question they have is what assets they can keep. The answer to this question is determined by how Medicaid classifies the asset. Under Medicaid there are two kinds…
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Many times when I meet with families who have a loved one who was just admitted to a long term care facility, one of the first questions they have is whether Medicare will cover the costs incurred. They understand that the costs of the long term care…
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Many times individuals are confused about the Medicaid transfer rules. When individuals are preparing to apply for Medicaid for long term care coverage, they assume that they can transfer assets to their family or to a Trust without penalty. Or they…
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For many individuals the largest asset they have is their IRA. Many times IRAs will represent half or more of an individual’s assets by the time they reach retirement or are in need of nursing home care. Therefore, protecting that asset can be impo…
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As we grow older many of us will need more and more assistance. Once you choose your caregiver you need to think about setting up an agreement to compensate them for their services. Using a Personal Care Agreement or Care Contract is a great way to d…
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As we grow older many of us will need more and more assistance. The prospect of finding someone to help us and interviewing caregivers and then hiring them from a company or a service of some kind seems daunting and scary. This is especially true as…
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This is a question I often receive from clients. While the simple answer is often no, the timing of the planning affects the effectiveness of the planning, the cost of the planning, and how complicated the planning will be. As a general rule, the soo…
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A person’s home is usually that one assets that gives them comfort and security. Protecting that home as we get older becomes more and more important. Protecting the home from the cost of long term care can be done in a number of ways. However,…
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As we get older, each of us must begin to contemplate the possibility of needing long term care (LTC) at home, in assisted living, in a nursing home, or some other setting. The options for how to pay for that care are often confusing and can involve…
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Download our free “Estate Planning Checklist: The Essential Guide for Making your Best Estate Plan in Ohio.” The checklist walks you through the steps you need to address to have the plan that is right for you and your loved ones.
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