Mary was concerned that she would soon need nursing home care. She did not want her funds used up in long term care expenses so she gave her only son, Joe, her life savings of $100,000. One year after giving Joe the money Mary experienced a major health crisis and needed to move into a nursing home.
One day, a few years back, Nancy came to us to protect her mother, Betty’s, last $25,000. Betty, had been in a nursing home for three years and had used all of her savings except for that little bit. Nancy wanted to hold it back to use for Betty to buy clothes, a special chair and pay travel expenses so her disabled brother could visit Betty.
1. TOO MUCH MONEY
Medicaid has strict limits on how much an individual, and if applicable, their spouse can have. Being even slightly over can cause one to be denied. However, with proper and careful planning, certain assets can be protected
2. INCOME TOO HIGH
Since Florida is an “Income Cap State” there is no flexibility when it comes to being over income. All income, no matter where it is from, counts.
Attorneys who work in the field of elder law bring more to their practice than an expertise in the appropriate area of law. They also have knowledge of the senior population and their unique needs as well as the myths related to competence and aging.
This is a very personal matter to me so, I am going to write it to you as if I am writing a personal note. To understand what goes into a life care plan, I’d like you to know how I began working in this area of practice.