Itasca Elder Law Attorneys
DuPage County Lawyers Handling Elder Law Matters Throughout Illinois
Ideally, everyone would live well into old age with few if any health problems, but that is not always the case. Unfortunately, most seniors will need some type of long-term care in their lifetime. Such care costs thousands of dollars per month and can cause a serious financial strain on a family. At Pankau Law, we help individuals and families make the necessary preparations and arrangements to handle long-term care costs. Our attorneys understand how emotionally and financially challenging it can be to deal with these issues, and we will guide you through it with compassion and competence.
Medicaid Planning in Illinois
Most families cannot afford the high cost of long-term care in Illinois. Fortunately, Medicaid benefits are available to those who are eligible. Becoming eligible, however, can be complicated, as an applicant’s net worth must fall below certain minimum thresholds. The law requires individuals to pay for their own long-term care until they are no longer able to do so. If the applicant has assets in his or her name, the government expects those assets to be used to pay for the long-term care.
Accessing Medicaid benefits is more difficult now than it was in the past, and eligibility rules are very complex. We are experienced in helping clients with Medicaid planning and including long-term care planning in a comprehensive estate plan. Our attorneys can work with you to make long-term care arrangements as well as protect your assets and your loved one’s assets.
Transferring an individual’s assets to a family member or friend in order to become Medicaid eligible is difficult, as there is a 60 month look back period in Illinois. Upon receiving an application for Medicaid benefits, the applicant’s previous 60 months of finances are scrutinized. There are strategies to assist in establishing Medicaid eligibility, however, while maintaining a comfortable standard of living.
To learn more about how we can assist you with Medicaid planning and other elder law matters, contact us at 630-875-0500 to schedule a consultation. One of our attorneys will look at your specific financial circumstances and provide an experienced legal assessment of how you can manage the financial burden of long-term care. Our office is located in Itasca, IL and we work with clients throughout DuPage, Kane, and Cook Counties.