Medicaid Planning
West Virginia Elder Care Law AttorneysIs a nursing home in you or your loved one's future? The average nursing home cost on the east coast can range from $100 to $200 per day - $30,000 to $70,000 per year. With most nursing home stays lasting more than a year, the cost of elder care can quickly diminish an estate if proper precautions are not taken. The elder care law office of Gianola Barnum Wigal & London L.C. can help. In order to avoid dwindling an entire estate on elder care, it is important to start planning now. Contact our Morgantown, West Virginia, law firm to discuss your options. Depending on the unique circumstances involved, Medicaid may provide benefits for elderly patrons, enabling nursing home costs to be covered. However, there are strict income and asset related eligibility requirements which must be met. Our Medicaid planning attorneys can help you understand these requirements and how to effectively plan in advance for future elder care law needs. We have comprehensive knowledge of estate and tax planning techniques that can be used to legally minimize an estate for Medicaid eligibility purposes while also preserving assets for future generations. Our lawyers meet personally with clients to fully understand all aspects of their financial standing as well as their future needs and goals for estate planning and long-term care. We evaluate options, such as:
Some Medicaid planning techniques have a five year look-back period - meaning that five years must pass after using the technique before the individual is eligible for Medicaid (for example, five years must pass after transferring real estate deeds to children). Therefore, it is essential to start planning now so that your family is prepared when the need for nursing home care arises. To discuss your Medicaid planning needs with an experienced elder care law attorney at our firm, contact Gianola Barnum Wigal & London L.C. today and schedule a no-cost consultation. |