Medicaid Planning & Elder Law

Helping Seniors and the Disabled Protect Their Assets and Preserve Their Well-Being

At Wilson & Wilson Estate Planning and Elder Law, we understand the unique challenges facing seniors and the disabled. Our experienced attorneys specialize in helping our clients protect their hard-earned assets, plan for their future care, and navigate the complex legal system.

We offer a wide range of Medicaid and elder law services for Illinois residents, including:

• Asset protection planning. Protect your assets from nursing home bills, Medicaid spend-down, and other financial risks.
• Disability planning. Plan for your disabled child’s future with special needs trusts and guardianship arrangements.
• Healthcare planning. Create a living will, health care proxy, or other advance directive to ensure your wishes are respected if you become incapacitated.
• Long-term care planning. Prepare for your long-term care needs, including assisted living, nursing home care, and in-home care.
• Housing options. Explore the different housing options available to seniors and the disabled, such as assisted living facilities, residential care homes, and independent living communities, to determine which is right for you and your family.

As Northbrook and LaGrange Medicaid, elder law and disabled law attorneys, we’re committed to providing our clients with compassionate and personalized service. We’ll work with you to understand your unique needs and develop the right plan for your future.

Call Wilson & Wilson Estate Planning and Elder Law, LLC, today to schedule a consultation and learn more about how we can help you protect your assets and preserve your well-being.

Contact us online or call our LaGrange office at (708) 482-7090 or our Northbrook office at (847) 656-8958.

Medicaid Planning The High Cost of Nursing Home Care and the Importance of Medicaid Asset Protection Planning

The average cost of basic nursing home care in the Chicagoland area is now $10,000 per month, and that figure doesn’t include any additional services that may be necessary. This kind of expenditure can quickly deplete even a healthy amount of lifetime savings.

Medicaid’s Long-Term Care program is a lifeline for many families who can’t afford the high cost of nursing home care, but they do have to meet eligibility requirements for both income and assets. Medicaid asset protection planning is a legal process that can help individuals preserve their wealth while still maintaining their Medicaid eligibility.

How does Medicaid asset protection planning in Illinois work?

Asset protection planning involves reallocating assets that would otherwise be spent on nursing home care to exempt assets, such as a family home, pre-paid funeral arrangements, burial plots, or an irrevocable trust. There are a variety of legal strategies for these reallocations, such as gifting, trusts, and annuities.

What are the benefits of Medicaid asset protection planning?

Medicaid asset protection planning can help individuals and families:

• Maintain their dignity. Asset protection planning can help individuals maintain their dignity by ensuring they have enough money to pay for necessities that aren’t covered by Medicaid, such as glasses, dentures, hearing aids, and clothing.
• Protect their family home. Asset protection planning may be able to preserve the family home for a spouse, disabled child, siblings who share ownership in the home, or a child who provides in-home care to their parents.
• Provide for their children’s financial security. In the case of a disabled child, the individual may also be able to provide for the child’s financial security by protecting assets over and above the home.

If you’re concerned about the cost of nursing home care in Illinois, Medicaid asset protection planning is worth looking into. This legal process can help you preserve your wealth while still maintaining your Medicaid eligibility.

Contact our experienced Medicaid asset protection attorneys in Northbrook and LaGrange to learn more about protecting your assets and ensuring you have the care you need in your later years.

To learn more, contact us online or call our LaGrange office at (708) 482-7090 or our Northbrook office at (847) 656-8958.

Elder Law Wilson & Wilson Estate Planning and Elder Law, LLC, Helps Seniors Age in Place and Navigate the Complex World of Long-Term Care

We understand that choosing a long-term care facility is a major decision, and we’re here to help you every step of the way. We’ll review the contract of any facility you’re considering to ensure that you understand your rights and responsibilities. We’ll also help you assess the pros and cons of using caregiver agencies versus contracting with caregivers directly.

If you’re able to stay at home, our La Grange and Northbrook elder care lawyers can help you develop strategies to age in place. This may include real estate tax exemptions and deferrals, as well as the use of special rules regarding family members who provide care.

No matter what your situation is, we’re here to help you make the best decisions for your future. Contact us today for a consultation.

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