Medicaid

If you are suddenly faced with putting a loved one into a nursing home, the situation can be frustrating and emotionally draining. Our staff is specifically trained to assist you in guiding you through the Medicaid application process. If there is enough time to plan (non-crisis) we can help you protect your assets so that you will not be spending your life savings for nursing home care. With nursing home costs in Michigan ranging from $5,500 - $10,000 a month, the financial strain on families is enormous. Even if you are faced with a sudden need for nursing home care (crisis), we will be able to help you to protect some, if not all, of your life savings. Many times people receive well-intentioned, but incorrect, advice about qualifying for Medicaid. Our staff knows the legal rules which will help you prepare to take care of your loved one – without draining your life savings. Contact us and be assured that your peace of mind is our priority.

Top Mistakes People Make Regarding Medicaid Qualification:

1. Thinking it’s too late to plan.
   Even after a senior has moved into a nursing home steps can be taken to protect their assets.
2. Failing to take advantage of protections for the spouse of a nursing home resident.
   Virtually all of the assets can be protected for the spouse of a nursing home resident still living at home.
3. Selling the house to qualify for Medicaid.
   There are several “exempt” assets available for a nursing home resident to keep, including a car and a primary residence (with equity at or less than $500,000).
4. Giving away assets too early.
   Make sure you take care of yourself first. Transfers done too early can cause difficult tax and Medicaid problems.
5. Failing to Plan Ahead.
   After the Deficit Reduction Act of 2005 protecting assets from nursing home expenses is much more difficult without advance planning. If you have any reasons to believe a loved one could eventually be placed in a nursing home you should seek counsel immediately.
6. Believing that gifting creates a 36-60 month period of ineligibility.
7. Putting assets in joint names with children.
   Adding anyone’s names to your property creates risk and exposes your assets to another person’s liability. Our observation is that joint property works if no one gets sick, sued, dies out of order or is greedy. You can see why we don’t like joint assets.
8. Not getting expert help.
   This is a very complicated field, which has been made more complicated by the signing of the Deficient Reduction Act. One small error could cost you tens of thousands of dollars and make you ineligible to receive Medicaid.

Our firm is dedicated to helping provide families with expert care and advice. We encourage all family members who want to understand what is happening or would like to be involved in the decision making process to attend an appointments.