Carmel, Indiana
317-522-1325

Elder Law / Medicaid Planning

Elder law is a highly specialized area of the law that incorporates a variety of practice areas, including estate planning, Medicaid planning, asset protection, veterans benefits and more. At Applegate Elder Law, we strive to help our clients plan for and cope with the many legal, financial, medical and emotional challenges that accompany growing older. This often involves helping families obtain the long-term care they need and finding ways to pay for it.

We don’t want to frighten you, but you should look closely at the following statistics:

  • Approximately 70 percent of people aged 65 and older will need long-term care at some point in their lives.
  • In Indiana, the median annual cost of a private room in a nursing home is over $91,000, while even a semi-private room costs more than $78,000. These costs are expected to rise dramatically in the future.
  • It is estimated that two out of every three families will exhaust their life savings within a year or two of a family member moving to a nursing home.

We can help you plan in advance to prepare for expensive long-term care in the future or help you cope with what is often called a Medicaid crisis situation.

Pre-Planning

Pre-planning, also called long-term care planning, is for people who are healthy now but want to be prepared for the possibility that they will need expensive long-term care in the future. We can use a variety of strategies and tools, such as promissory notes, life estates, annuities, trusts, long-term care insurance and more, to help you prepare for the cost of long-term care. We can also structure your estate so that you will be eligible for assistance from Medicaid to defray the costs of nursing home care. Contact us today to discuss your particular situation and options.

Coping With a Medicaid Crisis Situation

What is a Medicaid crisis situation? We define it as a situation in which a person must enter a nursing home immediately or in the very near future and has been informed that he or she has too many assets to qualify for Medicaid assistance. As we have mentioned, nursing home care in Indiana is extraordinarily expensive. For the vast majority of families, the denial of Medicaid assistance to help pay for it is indeed a financial and emotional crisis.

If you or a loved one is faced with a Medicaid crisis situation, you need to know that information about eligibility for Medicaid assistance provided by friends, family and even social workers is often inaccurate. The laws governing Medicaid eligibility are complicated and have changed over the years. They will likely continue to change in the future. We understand these laws and can quickly determine if you are indeed eligible for Medicaid assistance, or work with you to structure your estate in such a way that you can become eligible.

Contact us today for help with a Medicaid crisis situation. Even if you or a loved one is already living in a nursing home, we may still be able to obtain the financial assistance you need and protect your life savings.

You can reach Joani Phoebus at 317-522-1325 or [email protected].

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