Interested to know what Elder Law Attorney provides

countrywife · March 30

My 69 yr old DH (I am 69 as well) was diagnosed last fall with ALZ. Guessing he’s in stage 3 with some stage 4 like unable to take care of finances, which in our marriage has always been my domain. Six or so yrs ago, we completed our wills, durable powers of attorney, a revocable living trust, etc. I am still his person but I’m taking steps to switch mine from him to our daughter. While we don’t have LTC insurance, we do have enough in assets (for which I’m very grateful) that I’m not sure he would ever qualify for Medicaid and if he does, it will be years & years down the road. My question….I’ve read many suggest seeking the services of an attorney specializing in elder law. What exactly might they help with in our situation? Thank you.

Timmyd · March 30

In my opinion, the value of elder law attorney would be peace of mind. Our situation was similar to yours. It appeared to me that we had taken all the necessary steps but how was I to be sure? I paid for a 1 hour consultation with a CELA who ended up confirming that I was properly educated and had taken all of the recommended steps. I left the meeting wondering if that was a good use of $400 as all of the things that the CELA wanted to talk about were things which were already in place. In the months that passed, the discomfort of the $400 spend faded where as the comfort of hearing a skilled professional tell me that I was on the correct path has remained.

Jeff H · March 30

An elder law attorney can preserve your assets. I would highly recommend contacting an elder law attorney in your area. There are spousal impoverishment protections, so you don't get drained when your DH will need long term care.

persevere · March 30

An elder law attorney can also advise you about medicaid trusts. Here's a cut and paste that gives you an idea. Five years will pass in a hurry:

A Medicaid trust, typically an irrevocable Medicaid Asset Protection Trust (MAPT), is a legal tool designed to protect personal assets from being counted towards Medicaid eligibility limits. By transferring assets into this trust, individuals can qualify for long-term care benefits while preserving assets for heirs, provided the trust is established at least five years before applying.

www.sjslawpc.com +2Key Features of Medicaid Trusts

Irrevocable Nature: These trusts cannot be changed or revoked once created, meaning you give up control of the assets to a trustee.
Five-Year Rule (Look-Back Period): Assets transferred into the trust must be moved at least 60 months (5 years) prior to the Medicaid application to avoid penalties.
Purpose: They allow individuals to qualify for government-funded long-term care (nursing homes/home care) without spending all their savings.
www.sjslawpc.com +6

Types of Medicaid Trusts

Medicaid Asset Protection Trust (MAPT): Primarily used to protect assets like homes or investments.
Income Trust (Miller Trust): Used in some states for individuals with income over the Medicaid limit to qualify for long-term care.

countrywife · March 30

Thank you all.

Interested to know what Elder Law Attorney provides

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