You may wonder why Medicaid would be relevant to you if you are going to qualify for Medicare as a senior citizen. The reason why Medicaid is relevant to many elders is because of the fact that Medicare will not pay for custodial care.Custodial care is the type of care that you would receive in a nursing home or assisted living community. It is essentially living assistance rather than medical or convalescent care. For this reason, it is not covered under Medicare. … [Read more...]
What Assets Can I Keep When My Spouse Qualifies for Medicaid?
The Medicaid program is relied upon by a significant percentage of seniors who require long-term care. This is because of the fact that Medicare will not pay for living assistance. If you need help with your activities of daily living, this is considered to be custodial care. Medicare will pay for convalescent care after surgery for as long as 100 days, but it will not pay for custodial care at all. … [Read more...]
Will Long Term Care Wipe Out Your Children’s Savings?
)This year about 9 million individuals over the age of 65 will require long-term care of some kind (such as in-home, assisted living, or nursing home care), and estimates show that 12 million Americans will require it by 2020.Discover the 5 reasons paying for long-term care expenses is a very real concern and why you should start planning ahead now. Watch this short video (4:50) as Parman & Easterday attorneys Blaine Peterson and Jerry Shiles explain how to prepare for the possibility … [Read more...]
Veterans Day Reminder About Aid and Attendance Special Pension
As a society, we have always held those who serve in the military in the highest regard. We're also very cognizant of the importance of providing for the needs of our veterans when they return home. As a law firm that places an emphasis on elder law matters, this would be a good time to draw some attention to the Veterans Aid and Attendance Special Pension.Most people are aware of the fact that veterans of the armed services are entitled to a retirement pension after they have served for a … [Read more...]
What Is the Five Year Medicaid Look Back?
The Medicaid program is relied upon by most senior citizens who are receiving long-term care in the United States. This is true even though Medicaid is a program that is thought of as being a safety net for people with virtually no financial resources.Many of the people who ultimately utilize Medicaid to pay for assisted living were qualified for Medicare coverage. They worked throughout their lives, they were never financially needy, and they had some retirement savings. … [Read more...]
Is It Possible to Give Away Assets and Qualify for Oklahoma Medicaid Benefits?
When you get serious about planning ahead for the eventualities of aging you may run into some rude awakenings. One of these would be the situation that you may face if you need long-term care someday.First of all, we would like to establish the fact that this is something that everyone should take seriously. You may think that a small percentage of people will need help with their day-to-day needs eventually. Actually, 70% of people who reach the age of 65 will someday need long-term care. … [Read more...]
What Questions Should I Ask an Elder Law Attorney?
Elder law attorneys assist clients who are preparing for the eventualities of aging. Let's look at three specific questions that you should ask your elder law attorney.How Will I Pay for Long-Term Care?The majority of elder Americans will need assistance with their day-to-day needs at some point in time. Residence in a nursing home or assisted living community is very expensive. In-home caregivers can be costly as well. … [Read more...]
Why Would Medicaid Planning Be Important to Me?
You may have heard that Medicaid is important to many senior citizens. This can be confusing. If you have paid taxes while working all of your life, you may wonder why Medicaid would be important to you. After all, you are going to be eligible for Medicare when you reach the age of 65. … [Read more...]
Can You Prevent Medicaid Recovery in Oklahoma City by Adding Someone to Your Property Title?
Medicaid has become the de facto long-term care insurance for many American senior citizens. This is true even though many of them were never impoverished throughout their lives. … [Read more...]
Power of Attorney in Oklahoma: Limited POA vs. General POA
In the legal field powers of attorney are utilized for various different purposes. A power of attorney in Oklahoma is used to name someone who will be legally empowered to act in your behalf in a legally binding manner.The person executing the power of attorney is referred to as the grantor or principal. The individual who is empowered to act on behalf of the principal is the agent or attorney-in-fact.There are multiple types of powers of attorney. In this post we will look at limited … [Read more...]
