Elmhurst Elder Law Attorneys | Medicaid Planning Lawyers, Elmhurst

In this article, our Elmhurst elder law attorneys explain assets that are transferable within the 5-year look-back period. You are allowed to make certain types of gifts that would not warrant a penalty waiting period for Medicaid. You may gift any assets to:

• A spouse who is not seeking Medicaid
• A child who is permanently disabled or blind, or a trust for that child's benefit
• A trust for the executive benefit of anyone who is permanently disabled or under the age of 65

‍You may also transfer your home to anyone who is:

• A child under the age of 21.
• A "caretaker child" who has lived in your home for at least 2 years before you move to a nursing home.
• A sibling who has ownership who has an ownership interest in the house who has lived in the home with you for 1 year prior to moving your moving to a nursing home.

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In this video, our Elmhurst elder law attorneys explain how probate is a court case that oversees the process of collecting and disbursing the assets of an individual’s estate once he or she has passed away and what the recent changes to this process are. If the deceased had a valid will and named someone to manage his or her estate, the court will appoint this person as executor of the estate, as long as he or she is fit to take on the role. The most notable change to probate law is the addition of the Illinois Trust Code (ITC).  The ITC is based off of a unified standard called the Uniform Trust Code (UTC), which has been implemented in 33 states.  Most of the changes outlined in the ITC are optional and can be waived by the creator (known as the settlor) of the trust, but other statutes, such as the information an executor must provide to each beneficiary, must be followed under any circumstances.

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In this video, our Elmhurst elder law attorneys explain how a living will provide for end of life instruction. A living will has the ability to prevent life-sustaining treatment if one enters an irreversible vegetative state. This will is made in a mentally competent state of mind and takes the decision out of the hands of your health care agent. If a living will exists, the doctor will cease life support if he or she believes there is little chance of your coming out of a coma. Without this document, the health care agent will make the decision on your behalf. If there is no health care agent identified, it becomes the responsibility of your next of kin to make this decision. An alternative to a living will is giving a verbal or written instruction to your health care agent of what to do in an artificially prolonged life state. 

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