Our Wheaton elder law attorneys will assist you and your loved ones in taking advantage of Medicaid benefits in order to pay for long-term care.  

The cost of long-term care can be incredibly expensive.   If you are facing the prospect of long-term care, Medicaid benefits may be an option to cover these costs. However, in order to be eligible for Medicaid benefits, you must be able to show that you have "spent down" all of your non-exempt assets.  Medicaid allows you to keep a certain small amount of value in certain types of assets without interfering with eligibility. You must spend all of your assets over and above exemption amounts before becoming eligible for Medicaid assistance.  

The good news is that, with proper Medicaid planning, you may be able to transfer a significant amount of your assets to your family rather than spending these assets on long-term care.   It is important to begin the planning process with our Wheaton elder law attorneys as early as possible because Medicaid has a "5-year look back period" which complicates matters.  Any transfers made to family members within 5 years of applying for Medicaid may result in a penalty period during with your eligibility for Medicaid will be delayed.  When you pass away, the state is obliged to seek repayment from your estate for Medicaid benefits paid on your behalf for long-term care.  If you transfer assets like your family home to your loved ones within 5 years prior to your passing, these transfers can be undone and your family members may be liable for repayment of the proceeds.

• Read an article from our Wheaton elder law attorneys about Medicaid Planning.
• Read an article from our Wheaton elder law attorneys about Medicaid Planning for Healthy Spouses.
• Read about Allowable Transfers That Are Not Penalized by Medicaid

In this article, our Wheaton elder law attorneys explain how Powers of Attorney (POA) can help avoid the costly and time consuming process of guardianship proceedings by directly stipulating who will handle the affairs in case of incapacity or disability.

If a person becomes mentally incompetent through disease, injury or old age, their immediate family can't simply take over the management of their major life decisions or financial affairs. 

Read the full article by our Wheaton elder law attorneys about how guardianship proceedings can be avoided by using Powers of Attorneys.

In this article, our Wheaton elder law attorneys discuss how trusts are used in order to prevent probate proceedings.

Probate matters see the courts distributing assets of a deceased individuals' estate to heirs and creditors. Probate proceedings are a long and costly process and can be avoided by implementing a revocable living trust that transfers money and other estate assets to it during a lifetime.  The revocable living trust is a legal entity that owns the assets and property during the creator's lifetime. That creator has control of it while they are alive and can stipulate what happens to those assets upon their death.

‍Read the full article by our Wheaton elder law attorneys about what having a great estate plan can accomplish for you and your family.  

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