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Tag: nursing home care

22Feb

Medicaid Now Allows the Healthier Spouse More Assets

Posted by markelderlawon February 22, 2023in Medicaid
man and woman holding hands walking in winter coats

There is a tremendous cost associated with nursing home care for a spouse.  Most nursing home facilities charge approximately $12,000 to $13,000 each month for a semi-private room.  Medicaid will pay for nursing home care, but only after the family’s…

Read More Medicaid Now Allows the Healthier Spouse More Assets

01Jul

Change in Law Concerning Medicaid Penalty

Posted by markelderlawon July 1, 2022July 1, 2022in Medicaid
grandma holding granddaughter on the shore

When gifts are provided within the Medicaid five year look-back period, the County Board of Social Services will impose a period of ineligibility for assistance.  This is known as the Medicaid penalty period.  The duration of the penalty period is…

Read More Change in Law Concerning Medicaid Penalty

17Oct

Problems When Life Estate Is Sold During a Person’s Lifetime

Posted by markelderlawon October 17, 2021in Estate Planning
client selling life estate

What happens if the property is sold during the lifetime of the parent?  Many individuals protect their home from Medicaid and the cost of long-term care by transferring their property to a family member but retaining a life estate interest. …

Read More Problems When Life Estate Is Sold During a Person’s Lifetime

22Sep

New Rating System for Nursing Homes

Posted by markelderlawon September 22, 2021January 13, 2022in Nursing Homes
elderly man using laptop

Choosing a nursing home is an extremely important and often overwhelming decision that affects the daily life of you and your loved one.  You want to be sure that your loved one is receiving the best care.  There is a…

Read More New Rating System for Nursing Homes

30Oct

Seek Legal Advice before Gifting Assets

Posted by markelderlawon October 30, 2018June 15, 2022in Estate Planning
woman sitting outside with grandchildren

If significant assets are transferred to a child, then there will be a tax and estate planning ramifications from the transaction.  The transfer of funds may prevent the parent from obtaining Medicaid assistance to pay for needed long-term care. In…

Read More Seek Legal Advice before Gifting Assets

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