If you are leaving an inheritance to someone with a disability, this could affect his or her government benefit eligibility. Many people with disabilities rely on Medicaid for health insurance, and some receive income through the Supplemental Security Income (SSI) program. We are often asked if people in this situation will lose their benefits if they receive a direct inheritance? The answer is yes, but only if the inheritance is large enough to trigger loss of eligibility. Fortunately, … [Read more...] about Does an Inheritance Impact Medicaid Eligibility?
A lot of people do not understand why they should be concerned about Medicaid eligibility because they are not aware of the long-term care implications. This program will pay for a stay in a nursing home, and there is a Medicaid waiver that will cover in-home custodial care. Why should you care about any of this if you are going to qualify for Medicare? Though a lot of people question the fairness of this fact of life, Medicare does not cover long-term care for seniors that need help with … [Read more...] about Will Medicaid Count My Life Insurance?
"Experience is something you need just before you get it.” In many cases, we learn through our mistakes. Unfortunately, some mistakes are more difficult to overcome. Failing to plan for nursing home costs can be one of those mistakes. Inconvenient Reality It is hard to accept you may not be able to handle your day-to-day needs at some point. Of course, you know there are people that need assistance, but it's hard to believe it could be you. We are self-sufficient most of our lives, and … [Read more...] about Clear This Hurdle to Protect Your Legacy
The concept of “Medicaid planning” sounds completely counterintuitive. Why would you intentionally out yourself in a financially needy position? After all, you worked all of your life to avoid this fate. This makes sense on the surface, but there is a good reason why Medicaid should be on your radar. The United States Department of Health and Human Services reports that 70 percent of seniors will need some type of living assistance, and paid care is very expensive. Medicare does not pay … [Read more...] about Five Things You Need to Know About Medicaid Planning
Medicaid is a government program that may be quite relevant to you when you are a senior citizen, even if you will qualify for Medicare. Seven out of every 10 seniors will need some help with their activities of daily living, and 52 percent will require paid care at some point. These are some telling statistics, and Medicare does not cover the custodial care that nursing homes and paid caregivers provide. According to the state of Oklahoma, the average cost for nursing home care is about … [Read more...] about What Is the Medicaid Asset Limit for 2021?
As elder law attorneys, we advise clients about legal and financial eventualities they may face during their senior years. Assisted living costs certainly fit into this category. We will look at one aspect of the subject here. Aging in Place Change comes in increments. This applies to your ability to adapt to encroaching physical challenges. It is natural to think about assisted living communities and nursing homes when you envision physical challenges, but few people are anxious to leave … [Read more...] about Age in Place With a Home Health Aide
As elder law attorneys, we find that one of the most pressing client matters we deal with centers on the impact of Alzheimer’s disease. Though it is a disconcerting prospect, you should be aware of this looming threat when you are making preparations for the future. Deadly and Surprisingly Common Everyone has heard of Alzheimer’s, but many are very surprised when they find out how widespread this affliction has become. Here are two key points. Once you reach the age of 67 your life … [Read more...] about Alzheimer’s Impact Can Be Considerable
The simple answer to the question above is, "yes, it can." But with proper planning, the loss of your home may be avoided. Often, people get partial information about government programs for seniors and they proceed based on some misconceptions. In this post, we will look at one of these and help you see the complete picture. But first, let's provide the necessary background information for those who may need it. Medicare and Long-Term Care If you work and pay taxes for at least 10 … [Read more...] about Does Medicaid Really Take Your Home?
When planning your estate, you want to express your wishes regarding how you want your assets distributed after your passing. Many people think this is the long and short of it. But a well-constructed estate plan will address another possibility Health Care Decision Making You don't know if you may become unable to communicate sound health care decisions at some point. This is not a pleasant subject and many people refuse to think about it, but this is a mistake. If you take the right steps … [Read more...] about What Are Advance Directives for Health Care?
The older adult population in the United States has increased dramatically in recent years and is expected to continue to increase in the years to come. Sadly, that increase has led to a corresponding increase in elder abuse. Elder abuse occurs in several forms, including physical abuse, emotional abuse, and financial exploitation. If you are the caretaker of an older person, it is imperative that you take steps to prevent elder financial exploitation. An Oklahoma City elder law attorney at … [Read more...] about Tips to Prevent Elder Financial Exploitation