For most senior citizens, the possibility of a long-term nursing home stay is a foreboding consideration. Approximately 40% of senior citizens require some level of nursing home care prior to their passing. While most of us fear the prospect of our own healthcare crisis, planning in advance, can provide security for our families and loved ones.
With monthly nursing home rates in the range of $10,000, many families cannot afford this expense and need to explore alternative options to support their long-term healthcare.
Isaac Wiles has the expertise of a seasoned team of elder law attorneys and a committed and experienced staff. Our attorneys have been involved in nearly every precedent-setting case in the state of Ohio relating to elder law and Medicaid eligibility. We stay abreast of any changes or updates related to Medicaid and we understand how those changes impact our clients’ long-term healthcare plans.
In circumstances where one spouse requires nursing home care and the other spouse is able to stay at home, our primary focus is on preserving sufficient assets and income for the well spouse to continue residing in the community, both in the short term and long term. The greatest risk to the well spouse is impoverishment after the death of the ill spouse, when the monthly income typically drops by 40%. At Isaac Wiles, we are proud to offer customized planning options and assist in retaining greater wealth for the well spouse in these particular situations.
Unlike “seminar lawyers,” we do not participate in the sale of annuities or any other insurance products, directly or indirectly. Our goal is to assist our clients in providing a secure future for the well spouse and limiting the financial exposure should nursing home care be required.