12 Apr, 2023
Is your family member in a nursing home, or may be soon? Are you contemplating financial assistance but afraid of potentially losing what you worked so hard for? Do you sometimes struggle, feel overwhelmed, frustrated and confused? There’s hope for you! “Do I Qualify For Financial Assistance For Nursing Home Care?” If you have a family member in a nursing home, you may be able to reduce or even eliminate nursing home bills, protect your hard-earned life savings, increase the amount of income you actually get to keep, and still pass on an inheritance to your children. It’s true! In many situations, there are ways to reduce or even eliminate your nursing home bills, sometimes without even spending down to qualify for financial assistance. Mention this article and get a FREE, no-obligation consultation today! The only real way to know for sure is to arrange for a personal and private consultation with an experienced elder law attorney to see if there are steps you can take to protect yourself and your loved ones. Every consultation is highly individualized and tailored to every specific situation. In our initial consultation, you will discover how we can help you to... Protect your hard-earned assets from growing nursing home costs. The cost of a nursing home in our area can be $8,000 per month or more. For a single person to qualify for Mississippi Medicaid, you would have to spend your assets down below $4,000. We may be able to help you protect a substantial amount of your assets (i.e., 50% to 75%, or even more). For example, in the case of a married couple, they are not required to spend one-half of their assets on nursing home costs before the nursing home spouse can qualify for benefits. In some cases, we can even help protect all of your assets without the need to spend down. It just depends on the facts and circumstances of each case. A personal consultation can shed light on this crucial issue. Protect your most important asset — your family home — from the nursing home. Many people think that if they receive Medicaid for the nursing home, they will have to sell their house. Generally (but not always), the house is exempt, and as long as one or both spouses are alive, the property will not need to be sold. Additionally, after the person has been on Medicaid and has passed away, the state will try to recover money spent on their behalf. This “estate recovery” can be minimized or avoided through proper planning. Set aside more than the $44 per month that Medicaid allows. When a person qualifies for Medicaid, the state will enable them to keep $44 per month as a personal needs allowance. Frequently, money can be legally transferred to a family member as a way to shelter funds and perhaps even set aside money that can be used, in some cases, for the benefit of the loved one in the nursing home. Redo your estate planning if and when needed. Here’s an example of when this is required. Most of our married clients have all of their assets in the name of both spouses. If one spouse goes into a nursing home, what happens if the “healthy spouse” at home passes away first? Under the typical estate plan, all of the assets would go to the nursing home spouse and then would have to be spent down to $4,000. Instead, however, we are often able to redo the estate planning. If the healthy spouse passes away first, assets can be put into a particular type of trust for the benefit of the nursing home spouse, thus being protected from Medicaid and then perhaps passed on to the kids as an inheritance. Again, this is only one example. Assist you in dealing with the state Medicaid agency! Dealing with any government body can be a grueling experience for some people. That’s why we step in and help you to handle those details. This provides you with peace of mind knowing someone is looking out for you and your interests. Put an action plan together without surprises! If the consultation uncovers specific areas where we can help you, you can rest assured knowing that our fee will be a predictable amount, with no extra fees due, no matter how much extra work there is! No hidden fees, no fine print, and no surprises. At your initial consultation, we can design a plan for you, tell you to the penny what it will cost, then YOU decide whether or not this makes sense. If not, there’s no charge and no further obligation. Understand the complexities of the Medicaid laws as they apply to YOU! We know the steps to take to maximize the amount that can be protected for your family. We have put together Medicaid plans, and we know how to work in this complex, complicated, and often confusing area — our practice, experience, and expertise are concentrated in elder law. This allows us to deal in this area of the law and remain focused on issues that matter to you without being distracted. Protect an inheritance for you or your children. Our clients have worked hard all their lives to accumulate what they now have, and they desperately want to leave something to the kids. But doing so hastily or inappropriately can make it vulnerable to attack. You can be penalized. In such a case, we may be able to help you accomplish that in a way that protects everyone, even if you, your loved one, or your spouse need nursing home care. All that and more can be determined in your initial no-cost, no-obligation assessment. You will never know unless you give it a try. You will learn little-known strategies that may save you from needless heartaches, protect your family’s financial security and prevent the potential loss of any hard-earned assets, including your life savings. But that’s not all. If that person suffers from a recent health issue, such as a heart attack, stroke, cancer, or a degenerative disease such as dementia or Alzheimer’s, your problems can be easily compounded. Plus, if you don’t know your rights and the different steps you can take right now, that difficulty can expand drastically. For example… Your nursing home bills can snowball out of control Your entire life savings can be drained if left unprotected Your income and standard of living can be seriously threatened Your family home and other hard-earned assets can be lost. The decision to move a family member or loved one into a nursing home is one of the most difficult decisions you can ever make. Over time, caring for an aging or disabled loved one can seriously deplete your energy, your time, and, of course, your bank account. Unfortunately, we see it all too often in our elder-law practice! Our law firm, Kyle Wynn & Associates, PLLC, is dedicated to helping families overwhelmed or confused by all the decisions they have to make when they have a loved one in a nursing home. If your situation is similar, we can help with little-known strategies to protect you and your family with steps you can take right now. It’s never too late! If your spouse or loved one is in a nursing home, and if you want to end the mind-numbing guesswork (and hard work) that’s usually involved in caring for them, an action plan can be set up. With the right tools and using our knowledge of the law and strategies that have been successful in the past, we may be able to help you as well. If a loved one is in a nursing home right now, or even if you’re merely contemplating nursing home or caregiving services for your loved one, several important legal and financial issues must be addressed. There are no surprises, no pressure whatsoever, and no need to decide anything right away. It’s all up to you. We invite you to a FREE initial consultation with one of the experienced elder law attorneys of Kyle Wynn & Associates, PLLC, to determine if there are steps you can take right now to reduce or even eliminate your nursing home bills and protect your assets and the family home and land. While every person is different, in many situations, this consultation can uncover specific ways to reduce or even eliminate nursing home bills, sometimes without even “spending down” to qualify for Medicaid! We can explain some of the strategies that smart families use to protect their loved ones right now. If you would like to discuss how this type of planning might benefit you more precisely and in greater detail, please give us a call. We’ll be happy to set up a convenient time when we can get together and answer any questions you might have. Mention this article to obtain a FREE consultation. Making informed decisions may become more difficult or even impossible over time. The longer you wait, the greater the risk becomes. But with proper planning, you will ensure that you’ve taken the best steps possible to protect your loved ones and your family’s financial security. If you would like the guidance of a law firm that has helped many families successfully deal with these issues for many years, please call us today. You have absolutely nothing to lose! Call our office at (601) 978-1700 to arrange your consultation.