Local Cleveland Elder Law Attorneys
Protect Your Money and Assets from outrageous Nursing Home Costs
With the overwhelming cost of nursing home care, it’s no surprise that long-term care planning has been a widely discussed topic. Baron Law LLC helps you think about your healthcare needs and helps you plan for how these needs are paid for.
The average daily cost of long-term care in the Midwest is approximately $145 per-day. In Ohio, this same care is around $212.00 per-day. In sum, your long-term care plan must account for roughly $10,000 per-month.
Baron Law LLC is your Cleveland, Ohio law firm that can help you navigate through the complex web of federal law surrounding Medicaid benefits. Our firm will help you navigate it successfully in order to ensure you and your spouse receive the very best long-term medical care available.
Long-Term Care Planning Lawyer Cleveland
Baron Law LLC helps individuals protect their assets when planning for their long-term care. At some point you may or may not need the care of others to help you with your daily activities (cooking, cleaning, dressing, bathing, etc.)
If you need that care, the money can only come from one of a few places: (1) out-of-pocket; (2) Medicaid; (3) Long-term care insurance; (4) Veterans Assistance. Medicaid will pay for you to enter a nursing home but it comes with a great expense.
In order to be eligible for Medicaid you must spend down all your assets first. So, your home, bank accounts, retirement accounts, etc. must all be extinguished / spent down to less than about $2,000. Put another way, you must sell your home and all your assets in order to receive government assistance.
In the unfortunate event that you need to go into a nursing home and you want to protect your assets, Baron Law LLC can set up strategies to protect a portion of your estate.
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