Many elderly Americans eventually require long-term or nursing home care. You might be surprised to learn that nearly one in two women and one in four men find themselves in nursing homes at some point in their lives. Unfortunately, nursing home care now averages between $5,000 and $7,000 a month depending on where you live, and Medicare will only pay for about 20 days of nursing home care. So what happens when a family member can’t live on their own but can’t afford the increasing costs of nursing home care? It’s no wonder why two out of three families run out of money within the first year of a prolonged nursing home stay.
The process for applying for Medicaid can be a huge burden in itself. A lot of people are intimidated, unsure, or too busy to gather all the forms and fill out the required paperwork. While there’s no getting around the work of applying for Medicaid, our attorneys can definitely help you qualify for assistance. And we can do it without spending down all your income or relinquishing most of your assets. We can also use a number of powerful legal tools to help you prepare financially for a nursing home stay, including promissory notes, life estates, annuities, and trusts.
While Medicaid laws are constantly changing, one aspect of them never does: The further ahead you plan, the more options you have. And even if you or a loved one is already in a nursing home, we can use a number of legal provisions to help you get the Medicaid benefits you may be entitled to. We can help you prepare in advance for the possibility of nursing home care, or in response to an immediate, unanticipated “crisis” situation—and in the process, protect your estate for your spouse and children.
If qualifying for Medicaid is a concern for you or a loved one, don't delay, and contact the Crandall Law Group today to set up a consultation with an experienced Medicaid Planning attorney. We can also give you suggestions on the great living facilities we have here in Coeur d’Alene.