Common Elder Law Questions
Elder law and Medicaid planning are some of the most complex legal matters we handle at Kaeble Law LLC. We have answered a few common questions below, but we realize this is very basic information that probably leads to more questions from you or your family members. We invite you to schedule a consultation with us today to get more detailed information and guidance for your specific situation.
Long-Term Care Is Expensive. What Can I Do To Prepare Myself For That?
In communities throughout Colorado, nursing home costs continue to increase. As the baby boomer generation ages, more and more people will be looking for help dealing with these costs. Proper estate planning includes discussing the potential impact of these costs, and helps you think clearly about your future long before these needs become immediate.
I Have Heard About A “Look Back” Period. What Do I Need To Know About That?
Medicaid administrators will review a person’s financial affairs for the past five years to make sure that no property was transferred to loved ones to avoid having to use these assets for long-term care. If large gifts or transfers were made during this five-year period, they will be included in the person’s assets which must be depleted before Medicaid will be awarded.
Now, proper planning can help resolve this before this becomes a significant issue. You can discuss your situation with our experienced lawyer to determine how best to plan for long-term care, and what you can do to ensure you have taken all of the necessary steps to protect your assets.
What Do I Do If My Parents Are Having Problems Caring For Themselves?
Some parents may be reluctant to admit that they can no longer live independently. When long-term care is becoming a necessity, there are a few different things you can do to help. First, you and your siblings should discuss having someone appointed as a guardian and conservator for your parent. This means that someone will be able to make decisions regarding medical care and financial matters facing your parent.
Next, you can discuss what should happen with your loved one. One child may volunteer to care for the parent, which could require you to need a caregiver agreement, which provides financial security to the caregiver. You may also need to discuss placing your parent into a nursing home or assisted living facility, which could be very costly. We can help you evaluate the big picture and put a plan in place to address issues facing your family.
I Don’t Even Know Where To Start. I Need Help Understanding My Options.
This is what we are here for. With over 20 years of experience in estate planning and elder law, our attorney is ready to help you resolve any of the issues you are facing. Whether you are just starting out with estate planning or need help with a long-term care concern, we will assess your situation and present you with clear choices.
If you live in or have a loved one who resides in Golden, Lakewood or other communities in the west Denver metro area, call our office today at 720-759-3082 or send us an email to arrange a time to meet with us. We will put you in a position to make positive choices for your family’s future.