Category: Long Term Care Planning/ Medicaid Planning

2 Documents to Save Your Assets from Long Term Care Costs

Long-term care is not cheap.  In fact, it is down-right expensive.  The average annual cost of a nursing home room in the Cleveland Metropolitan area is $73,912.50.  Moreover, betting that you will not need long-term care is not a good gamble.  Seventy Percent (70%) of people over age 65 will need long term care during their lifetimes and no, Medicare won’t pay for it. Medicare doesn’t cover long-term care costs.  Even if a number of criteria are met Medicare only covers the cost of a skilled nursing facility for up to 20 days, with the possibility of an additional 80 days on a co-payment basis.  … Read the rest

What Rights Does a Nursing Home Resident Have?

What rights do I have as a resident of a long-term care facility? Under the laws of the State of Ohio, the answer is quite a few. Thanks to a piece of legislation commonly referred to as the “Nursing Home Bill of Rights,” residents of facilities that provide accommodations to three or more unrelated people for more than twenty-four hours, enjoy a wide array of protections. This legislation extends to individuals currently receiving care in a nursing home, residential care facility, or county home.

Here are some of the most important rights afforded to those who are living in a private or public … Read the rest

2 Big Reasons to Have a Lawyer Review Your Nursing Home or Assisted Living Agreement Before you Sign

Admitting a family member into a long term care facility (assisted living or nursing home) can be very emotional and stressful for a family. The admittance paperwork can often be many pages long and the pressure can be high to sign quickly to secure the family member a bed. Signing the paperwork to enter the agreement without having it reviewed by an elder law lawyer can spell trouble for the patients and their families. The following are the two big reasons to have an elder law lawyer review your nursing home or assisted living agreement before signing.

  1. Avoid being left holding the bag: It is common
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Estate Planning for Digital Assets: 5 Things You Should Do To Plan for Your Digital Assets.

Estate planning is the process of putting a legal plan in place so that in the event of your death or disability, your affairs will be managed in accordance with your wishes and will save your family headache and money.

What are digital assets?

Digital assets can be placed into four categories.

  1. Electronic access to financial information: Logins for your banks, brokerage, investment and retirement accounts, credit cards, insurance, tax preparation software, financial software like Quickbooks.
  2. Digital assets with value: Web addresses, online accounts that hold cash like Ebay or Paypal,
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How to Make Gifts to Charities

Making a gift to a charity in your estate plan is a wonderful way to give back. Today’s blog post will talk about the basics of charitable giving.

Choosing Charities

Before you leave money to any charity, it is wise to go to a website like https://www.charitynavigator.org/ and https://www.consumerreports.org/charities/best-charities-for-your-donations/ to make sure that the charity is worthy of your support. Unfortunately, there are many great sounding charities that spend most of their operating costs on administrative expenses or are scams.

How to Make the Gift

A gift to a charity… Read the rest