Are you caring for aging loved ones in their home? Are you concerned that they may need a nursing home in the future? You do not need to figure it out alone. A qualified Florida elder law attorney can help you and your loved ones make wise decisions about the future and be sure everyone understands the costs. In addition, your attorney can advise as to whether there is anything you can do to shield your loved one’s life savings from being immediately depleted. This National Elder Law Month, let us share a few key considerations with you.
Are you and your aging loved ones considering Medicare or even Medicaid to cover the cost of a nursing home? As your elder law attorney will explain, Medicare and Medicaid are two different programs. Medicare is available to senior and disabled adults, but it has a limited nursing home benefit, paying only for 100 days of care. If you are considering long-term nursing home care for your loved ones, you will probably need more than just Medicare.
What about Medicaid? You may want to see if your loved ones qualify for Medicaid. One of the main qualifications for receiving Medicaid benefits would be the income level and assets of your loved ones. If they qualify, Medicaid will cover nursing home costs.
In regard to Medicaid, how can a qualified Florida elder law attorney help you? Your elder law attorney can help you with the detailed process of obtaining Medicaid services for your loved ones. Having an elder law attorney, instead of trying to go it alone, is important. Your elder law attorney can advise you of whether Medicaid may seek to recoup costs from the estates of your loved ones when they pass away. If this is the case, your elder law attorney can help you with estate planning strategies on behalf of your loved ones that may minimize the depletion of their life savings due to Medicaid. Your elder law attorney can counsel you on how best to proceed with the best interests of your loved ones in mind.
We know this topic may raise more questions that it answers and want to help you plan for the future, and the unexpected. Whether you're young and single or a married five-time great grandparent, your voice and wishes need to be known. Worley Elder Law, based in beautiful Bradenton, Florida, focuses on helping you understand your options in designing your Estate Plan or Elder Law needs. Whether it's preventative incapacity planning or establishing your legacy, we will take the time to explain every option and work with you to create a customized plan just as unique as you and your family are. Please do not hesitate to contact us to let us help you.