Thanks for Elder Care Lawyer help

wose

I took the advice of my financial adviser on this elder care lawyer. But I will contact a CELA. I guess I’ll just pick someone under Nelf(thanks @M1 ) I had an eye infection and was sitting in my car taking notes when he called so maybe I didn’t every word right. But basically, it would be 2000.00 for documents only. I do have all those in place already(but missing a few of his signatures unfortunately) I believe the 15000.00 is the most it would be for a trust, which seems like I would have to have. We don’t have a lot of money but with the 5 year look back, it seems like that would be the only avenue. Thanks for letting me talk this out again. I feel like I’m on a dingy in the middle of Lake Superior 💙

M1

Everyone here has your back. May not make the boat any bigger but it's a lot of guardian angels.

Denise1847

https://alzconnected.org/discussion/67868/thanks-for-elder-care-lawyer-help

Hi Wose, What do you mean about the 15000?

housefinch

I know this is different, but we have a special needs child who will need lifelong support. We saw a special needs estate planning attorney and had wills, healthcare wishes for ourselves, a joint trust for us, and 2 trusts for our kids—1 for son, & a special trust for our special needs daughter (requires special legal documentation to protect future assets to maintain her eligibility for SSI, etc) for $6000. I know this isn’t elder care legal paperwork, but it’s somewhat similar. We live in a large metro area and this was a large law firm.

Jeanne C.

I suggest trying another CELA. We paid about what you indicated but that included wills, trust, POAs (both medical and financial), HIPAA docs AND managing the medicaid application including setting up the compliant annuity and all back-and-forth with the state. The five year look back wasn't an issue because we did not give any money away or do anything that fell outside of the rules.

wose

https://alzconnected.org/discussion/comment/195299#Comment_195299

Hi Denise1847… it was a short free phone convo, so I think what he was saying there’s that 5 year look back for Medicaid. If a short term trust is created without worrying about the 5 year Medicare requirement, they can preserve 50-70% of our assets. We have a condo, a 401k in his name and my 401k which is double his and we have a modest joint account. I can’t afford to give him all my 401k money and still live on my own. I’m in ok shape, but rejoining the workforce at 65 would be difficult. Thanks for always being there💙

Babz0226

I thought if 401k money is in your name only it is yours and cannot be touch yes/no? So confusing???

Bluebird

https://alzconnected.org/discussion/comment/195310#Comment_195310

We have a daughter who is legally blind. When we met with the CELA she said in our state that if the parent or grandparent, with a disabled child/grandchild, need to go into a nursing home they are automatically eligible for Medicaid and the money they would have paid the nursing home goes into the special needs trust for the disabled child/grandchild. It sounds like you have everything set up but if you were not aware of this law you might want to check with a CELA and see if your state has this law. Our CELA said many other types of attorneys are not aware of this law.

Bluebird

Here is a link to the rules for Medicaid eligibility. Every states laws are different. You’ll have to search for your state. It can be very complex and that is why most people use a CELA.

https://www.medicaidplanningassistance.org/medicaid-eligibility-missouri/

Denise1847

https://alzconnected.org/discussion/comment/195321#Comment_195321

Hi Wose, I was asking because I am working on this with an attorney. I am in Maryland and she said we didn't have to do the trust until our long-term care insurance runs out (3 years). However, I still worry that he will outlive the long-term care insurance so I just want to know what is possible. I guess you are saying it costs $15000 to set up the trusts. I haven't gotten a price for that yet, but I paid $500 for an hour consult, then $1200 for just my documents to be done. I am with you on the dingy. I don't know if this will ever feel better - day after day - wash, rinse and repeat. We are in this together and some days I want to jump from the dingy.

JDancer

I was also told by a CELA in Indiana that my 401K in my name doesn't have to go to my spouse's care before he could qualify for Medicaid

Bluebird

I was terrified I would be left penniless when my spouse needed nursing home care. I did a lot of research, including using a CELA. In my state my 401K, that’s in my name, does not go for spouse’s care, any money that I might inherit does not have to be used for my spouses care, as long as it has not been put in a joint account. In addition, I can keep up to $154,000. I am also allowed up to $2400.00 in monthly income, even if this means using part of his Social Security. Any income over that must be used for my spouses care. Every state has different laws on Medicaid eligibility, check the link I posted earlier in this thread. There are different ways a CELA can set up your money so everything doesn’t go to a nursing home and the spouse has something to live on.

housefinch

@Bluebird Thank you! We actually are not facing dementia ourselves (yet—-but chronic stress of our parenting situation may cause it for us). My stepdad has moderate dementia and I fear for having to deal with planning for long term care for an adult child and 1 of us someday. It’s terrifying.

Mimi50

https://alzconnected.org/discussion/comment/195342#Comment_195342

Thank you for the information. My husband will eventually need Medicaid.