Watching a parent, grandparent, or other older relative deteriorate physically and/or mentally can be heart-wrenching. The idea of putting your family member in a long-term care facility may not sit well with you; however, caring for them yourself may not be financially feasible. Will Medicaid pay for a family caregiver? The Carmel Medicaid attorneys at Frank & Kraft explain an Indiana Medicaid program that may allow you to be compensated for caring for a family member. Medicaid … [Read more...] about Will Medicaid Pay for a Family Caregiver?
At some point during your retirement years, you may be faced with the need to qualify for Medicaid, only to find that your assets prevent you from doing so. At that point, your first thought may be to simply transfer those assets into the name of an adult child. The Carmel Medicaid planning lawyers at Frank & Kraft explain why transferring your assets to an adult child won’t work if you need to qualify for Medicaid at some point in the future. Why Are the Medicaid Eligibility Requirements … [Read more...] about Can’t I Just Transfer Assets to My Adult Child If I Need to Qualify for Medicaid?
Like many people, you may make it to your retirement years without ever giving the need to qualify for Medicaid a second thought because you were fortunate enough to be covered by employer-sponsored or privately purchased health insurance. As a senior, however, the likelihood that you will need to qualify for Medicaid increases substantially as a result of the high cost of long-term care. The need to qualify for Medicaid, however, could also put your retirement nest egg, or other assets, at risk … [Read more...] about Are Assets in a Trust Protected from Medicaid?
Seniors are often surprised when they realize they may need to rely on Medicaid to help them cover the high costs associated with long-term care. Even more worrisome are the eligibility guidelines that include both income and asset limits that can put your retirement nest egg at risk if you failed to plan ahead. The best way to prevent that from happening to you is to know what assets you can have and still qualify for Medicaid in Indiana. By including a Medicaid planning component in your … [Read more...] about What Assets Can You Have and Still Qualify for Medicaid in Indiana?
Are you prepared for the very real possibility that you, or your spouse, will need long-term care when you are older? If not, now is the time to start preparing by incorporating Medicaid planning into your overall estate plan. Doing so may also help dispel some of the myths and misconceptions you have about Medicaid, such as the widely held belief that your spouse will end up with nothing if you need to qualify for Medicaid to help pay for nursing home care. The Indianapolis Medicaid lawyers at … [Read more...] about What Is a Community Spouse?
At some point during your retirement years, you may experience physical and/or mental deterioration that makes independent living difficult. You may not yet need the type of around the clock care offered by a nursing home though. Understandably, you may wish to remain in your home as long as possible. Moreover, you may be able to do so with the assistance of in-home care. The cost of that care, however, can be prohibitive if you are forced to pay out of pocket. The Indianapolis Medicaid … [Read more...] about Will Medicaid Pay for In-Home Care?
If you have even a rudimentary estate plan in place already, you are ahead of the game considering the fact that over half of all Americans do not have any type of estate plan in place. Do not stop there though. While even a simple estate plan is better than no plan, creating a comprehensive plan can help you achieve a wide range of inter-related goals. For example, as you near retirement age, Medicaid planning should be part of your estate plan. As part of your Medicaid planning component, you … [Read more...] about What Is Considered a Countable Asset for Medicaid
Creating a successful estate plan requires you to contemplate a number of potential scenarios, including the possibility that you (or a spouse) will need long-term care in the future. Factoring this possibility into your estate plan is crucial because of the high cost of that care and the related likelihood that you will need to qualify for Medicaid to help pay for that care. If you fail to plan for the possibility that you will need to qualify for Medicaid, you could face the loss of assets as … [Read more...] about How Can I Avoid Medicaid Spend-Down?
As much as you probably don’t want to think about it, the reality is that you may end needing nursing home care at some point later in your life. If the need for nursing home care does come to pass, you may find the cost of that care to be staggering. More importantly, the cost of that care could put your hard-earned assets at risk if you didn’t plan ahead. The Indianapolis Medicaid planning attorneys at Frank & Kraft explain how you can protect your assets from the high cost of nursing home … [Read more...] about How Can I Protect My Assets from Nursing Home Care?
You may have made it through your entire life without giving Medicaid a second thought; however, there is a very good chance that as a senior you will find yourself turning to Medicaid for help covering the high cost of long-term care. With that in mind, it makes sense to learn more about the Medicaid program now. In fact, as the Carmel Medicaid planning attorneys at Frank & Kraft explain, what you don’t know about Medicaid could hurt you. What Don’t You Know? Medicaid is a healthcare … [Read more...] about What You Don’t Know about Medicaid Could Hurt You