Elder Law Attorney Serving Lake County, IL
Prepare in Advance for Your Future Needs
Elder law is another aspect of estate planning, focusing primarily on the needs of families and individuals as they age. Our Riverwoods elder law attorney in Lake County, IL, Steven Peck, specializes in issues of aging, including senior housing and home care, long-term (or nursing home) care, guardianships and health care documents, Medicare and Medicaid.
Experience You Can Rely On For Elder Law Matters
Elder law requires careful planning around long-term care, Medicaid, guardianship, powers of attorney, and asset protection. We bring experience in these areas and take the time to understand each client's circumstances, priorities, and family concerns.
Personalized Planning: We look at your financial situation, family circumstances, and long-term goals when discussing legal options.
Long-Term Care Guidance: We help clients understand planning considerations related to nursing home care and other long-term care needs.
Asset Protection: We consider how appropriate planning tools may help protect assets while addressing future care needs.
Experienced Legal Counsel: We provide direct guidance throughout the planning process and help clients make informed decisions about their legal affairs.
Our approach focuses on creating practical legal strategies that address both current concerns and potential future needs.
Guidance From An Elder Law Attorney In Lake County, IL
Planning for long-term care, Medicaid eligibility, and other later-life legal concerns can involve decisions that affect both you and your family. An elder law attorney in Lake County, IL can help you evaluate your options, understand the legal requirements involved, and develop a plan that reflects your financial circumstances and personal wishes.
Senior Housing & Long-Term Care Options
The Long-Term Care Dilemma
As our population ages, more and more of us confront elder law-related issues, whether for ourselves or our parents. One of the most pressing issues is long-term nursing home care, which usually is not covered by traditional health insurance. Depending on where you live and the level of care needed, nursing home care costs can vary greatly. In 2017, the national median cost for a private room in a skilled nursing facility was $97,455. The average stay is slightly more than two years. Most people end up paying for nursing home care until their personal (or family) assets are depleted, then they may qualify for Medicaid to pick up the cost.
Careful planning, however, can help protect your assets, whether for your spouse or for your children. The belt-and-suspenders approach is to purchase long-term care insurance while you are healthy enough to qualify, and to make sure you receive the benefits to which you are entitled under Medicare and Medicaid.
Medicare
Clients are frequently confused over the differences between Medicare and Medicaid. Though their names are very similar, the programs are quite different. Medicare is an entitlement program, a federal health insurance program in which most people enroll when they turn 65 years old. There are no financial qualification rules. Medicare has two primary parts: Part A and Part B.
Medicare Part A covers in-hospital care, extended care after a hospital stay, some home health care services, and hospice services. The rules for nursing home coverage are very strict and, in fact, Medicare pays for less than nine percent of nursing home care in this country.
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Illinois Medicaid
Medicaid is a joint federal-state program, subject to certain federal requirements, each state implements its own regulations on how the program is managed. Medicaid is not an entitlement program like Medicare, but rather a form of welfare. Medicaid eligibility is determined after the proper application is submitted to the state. There are many Medicaid insurance programs available in Illinois, from basic medical coverage to nursing home programs.
We assist seniors and their families in making the tough decisions regarding long-term care planning, including whether Medicaid eligibility may be an option.
What Options Are Available for Senior Housing?
Helping a parent move to senior housing can seem more intimidating than orchestrating a rocket launch. The death of a spouse, declining health or safety concerns can trigger the need to move. The first phase comes with the realization that what has been home is no longer suitable. Emotional ties to a place are hard to overcome. Finding a new home that is appealing and appropriate is no easy task, and neither is culling through a lifetime’s accumulation of “stuff.”
Here are some tips to help make the transition easier:
Plan ahead. Don’t wait for a health crisis to start the process. The smoothest transitions occur when the person moving is in the driver’s seat.
Get a full assessment of the current situation. Physical care needs and financial resources are where to start. Consider the costs of staying in place, including renovation and ongoing maintenance. Add the cost of rising utility bills and taxes, and don’t forget transportation and food. Make a list and decide whether it’s cheaper to stay or move to a community designed for seniors.
Take a multi-phase approach. Seniors often take longer than a year to actually make the move.
Fully explore new housing options. Senior living offers a broader range of options than ever before.
Contact The Law Offices of Steven H. Peck Ltd. today!
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Take The Next Step In Protecting Your Future
Do not wait until a health or financial crisis forces difficult decisions on you or your family. Our elder law attorney in Lake County, IL can help you address long-term care planning, Medicaid concerns, powers of attorney, and other legal matters before they become urgent. Contact the Law Offices of Steven H. Peck, Ltd today to schedule a consultation and start building a plan around your needs and priorities.
Frequently Asked Questions
What should I consider when choosing a long-term care option for myself or a parent?
We can help you compare the legal and financial considerations involved in remaining at home, moving to senior housing, or preparing for nursing home care. We look at your care needs, available resources, and the potential costs involved so you can make decisions based on your actual circumstances.
How can your elder law attorney in Lake County, IL help me plan for Medicaid?
Medicaid planning can involve complicated eligibility rules concerning income, assets, and long-term care needs. Our elder law attorney in Lake County, IL can review your financial circumstances and discuss planning options before you submit an application.
What happens if I become unable to make my own financial or health care decisions?
We can help you put legal documents in place that identify who you want making decisions if you become incapacitated. Depending on your needs, this may include a durable power of attorney for financial matters and advance directives for health care decisions.
Can I protect my assets while planning for future nursing home care?
We can review your assets, family circumstances, and anticipated care needs to identify planning strategies that may be appropriate. Medicaid planning can involve trusts and other legal tools, but transferring assets without understanding the applicable rules can create eligibility problems.
Can you help me apply for veterans' Aid and Attendance benefits?
Yes. We assist qualifying veterans and surviving spouses with the Aid and Attendance application process. We can help you understand the service, medical, and financial requirements and address the documentation involved in seeking this benefit for home care, assisted living, or nursing home expenses.