Medicaid Planning for Married Couples Where One has Recently been diagnosed

If you or your spouse has recently been diagnosed with Alzheimers Disease, experienced a stroke or otherwise lost mental capacity you are probably really concerned with the future, and worrying about how you will be able to pay for treatment and medical costs without losing or exhausting your assets. There is help available to you. The compassionate and experienced attorneys at Schulze Howard & Cox will work with you to evaluate your unique situation, and help you to identify options for the future. Options you can live with.

How Can We Afford To Pay for the Care that's Needed?

The cost for a nursing home can easily exceed $75,000 per year, resulting in a huge financial obligation for the family. The good news is that the right legal strategy and planning can help to minimize the impact on the assets you control, and the benefits to which you have access. Contact us today so that we can begin to discuss several important planning steps such as:

  • The process of Medicaid planning and the structuring of your home and assets
  • Short and Long Term Estate Planning to Ensure Maximized Tax Advantages and Medicaid Eligibility
  • Important Financial and Health Care Powers of Attorney, and authority to manage property and asset decisions
  • How the improper gifting of money and assets to children can adversely affect your qualification for Medicaid
  • How you might be able to qualify for Medicaid without a "spend down"
  • The difference between Medicaid and Medicare benefits
  • Strategies for paying for assisted living or a nursing home as symptoms advance

What is Medicaid Spend Down?

In Ohio, Medicaid benefits can be extremely important to individuals faced with long term medical expenses. Medicaid has strict limits on assets in order to be eligible for Medicaid benefits. Couples and individuals who exceed the limitations must sometimes divest themselves of the excess money and assets, but in a way which meets the strict guidelines before qualifying for Medicaid benefits. It is important to note that there are many options available to maximize the amount of "countable assets" which you can keep, and to help to allow you to stay in your own home for as long as possible.

Contact an Experienced Medicaid Planning Attorney for Alzheimers, Stroke and Long Term Health Care

Our attorneys have the experience necessary to complete estate and Medicaid planning in a responsible and cost-effective manner. For more information about services relating to Ohio Medicaid and estate planning, contact us and speak with an attorney today. Learn how we can help you through this complex and concerning time, and help you to protect what is yours and find peace of mind. Call 937-644-3849 to schedule an appointment.