Many people apply for coverage without any help, but Medicaid will not tell you how to protect your assets. What Elder Law Center of Wisconsin offers is its specialized knowledge, skill, and experience to help you follow all the proper application procedures, and handle all of the necessary legal correspondence. More importantly, we offer a range of options for protecting your assets, should you need nursing home care. We will see your case through to its conclusion and work hard...
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Why do I need help obtaining Medicaid coverage? Isn’t it just a matter of submitting the application?
16 Nov
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16 Nov
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I’ve heard Medicaid can take our house for reimbursement. Is that true?
No, they cannot take your house, nor do they want to. This is one myth regarding Medicaid. While Medicaid does require the spouses of beneficiaries to contribute some portion of their available assets to the cost of care, the federal Spousal Impoverishment Protection law excludes your family home from that calculation while a spouse resides there. There are several options available to protect your house from estate recovery if one dies while on medicaid or family care.
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If my spouse goes into a nursing home, will I have to give away most or all of my assets in order to protect them from being taken to cover the cost of care?
No. This is another myth regarding Medicaid. Under federal Spousal Impoverishment Protection rules, you can receive Medicaid benefits and retain your home, your vehicle, your household effects, and “countable” assets up to a state-determined maximum. Request a free Medicaid Planning brochure.
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What is a Health Care Power of Attorney?
It is a document that empowers someone else to make health care decisions for you in the event that you have lost the capacity to make those decisions yourself, due to some disability. Bear in mind that, in many states, the decision of whether or not to administer care to someone who is incapacitated automatically defaults to the physician, not the spouse, unless you have it in writing that you want someone else to have that power. Having Elder...
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16 Nov
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What is a Power of Attorney?
Power of attorney is a document that authorizes someone else to make legal decisions on your behalf in the event you are unable to make them yourself – decisions and actions such as paying bills, selling real estate, accessing bank accounts, and so on. There are several different types:
> Durable Power of Attorney – The legal authority is valid after (and before if desired) you become disabled.
> Asset Protection Power of Attorney – This type of power of attorney...
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I can buy a Power of Attorney form at the office supply store/online for a couple of bucks. Why should I go to you?
The Power of Attorney form you buy at a stationery store is just the basic, standard form. It does not accommodate your wishes in any detail. When Elder Law Center of Wisconsin prepares a Power of Attorney document for you, it is custom tailored to your purposes, with specific instructions for your agent with respect to a broad range of planning issues, including:
> The creation of trusts
> Asset protection for your spouse before and after your death
> Asset protection for...
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What is a Will?
A will is a legal document that deals specifically with the distribution of your assets after your death. A will does go through probate.
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What is a Trust?
Here is our explanation: A trust is like a limousine. Silly answer? Think about it…
Imagine for a moment that all of your assets are boxes – your home is a box, your car is a box, your bank account is a box, and so on. You have this stack of “boxes” you’re carrying in your hands as you walk through life. If you should trip and fall (i.e. die or become disabled), what happens to the “boxes”? They fall...
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