Experienced Medicaid Planning for Seniors and Families in Ohio and Kentucky
As we age, Medicaid planning takes on heightened importance. As a means-based program, many people will not initially qualify for Medicaid when they need home healthcare services or move into a nursing home or other long-term care facility. Since Medicare and private health insurance typically do not cover these types of elder care expenses, this means that seniors and families must often pay for care out-of-pocket until their savings dwindles below the Medicaid eligibility threshold.
Fortunately, this type of scenario can be avoided with careful Medicaid planning. Medicaid planning involves making use of trusts and other estate planning tools to legally secure Medicaid funding before it would otherwise be available. Since the need for elder care can arise suddenly, and since it takes time to complete the Medicaid application process, aging individuals and families should consider incorporating Medicaid planning into their estate plans before the need arises.
Benefits of Medicaid Planning in Ohio and Kentucky
Uninsured nursing home, long-term care and home healthcare services can cost aging individuals and families thousands of dollars every month. As the costs of care continue to rise, families are increasingly finding that they cannot sustain the costs of elder care long-term.
Careful Medicaid planning ensures not only that aging individuals will have access to health insurance when they need it, but also that their assets will remain in their estate to pass on to future generations. As a result, it is generally best to address potential Medicaid needs as part of the overall estate planning process. At Singler Law, we work closely with our clients to understand their needs and choose the estate planning tools that work best for their individual circumstances, and we craft clear and enforceable estate plans that provide financial security for decades to come.
Comprehensive Medicaid, Elder Care and Healthcare Planning Services
In addition to helping clients achieve Medicaid eligibility while preserving the value of their estates, we assist with all other aspects of elder care and healthcare planning as well. When you sit down with attorney Jim Singler to discuss your personal and family circumstances, he will help you understand what you need to know with regard to matters such as:
- Healthcare directives and living wills
- Mental incapacity
- Probate avoidance
- Tax mitigation
- Business succession and other unique estate planning issues
In order to make informed decisions about Medicaid planning, you need to have a clear understanding of how any Medicaid-related decisions will impact other aspects of your estate plan, and you need to be sure that your plan for securing Medicaid eligibility will not frustrate any of your other estate planning goals.
Let’s Discuss Your Medicaid Planning Needs
If you would like more information about the benefits of Medicaid planning, the steps involved and how to incorporate Medicaid planning into your overall estate plan, we invite you to contact us for an initial estate planning consultation. To speak with attorney Jim Singler in confidence, please call 513-486-0000 or tell us how we can reach you online today.