Medicaid Asset Protection Planning

DID YOU KNOW…your loved one can receive medicaid benefits while you legally and effectively protect your home and savings from the devastating cost of a long-term nursing home stay?
As Chicago-area Elder Law and Medicaid Attorneys, we offer seniors and boomers guidance and solutions for long-term care planning.

Our FREE Long-Term Care Planning Guide offers consumers a simple, easy-to-understand explanation of the confusing Medicaid process and reveals the steps you should be taking RIGHT NOW to protect your family’s assets and regain peace of mind.

Our passion as Elder Law Attorneys is helping senior citizen-taxpayers avoid financial ruin at the end of life due to the devastating costs of long-term care.

This is a scenario we see often and relish:

Relieved, Dad says:

I met with an Elder Law Attorney who helped explain some things that had been weighing heavily on me…

  • We do not have to lose our home.
  • We do not have to wait five years to qualify for Illinois Medicaid.
  • We do not have to give away our assets to protect them”.

Suddenly, for many boomers or parents of boomers, their future becomes brighter. 

We can provide you with a similarly bright outlook!

The average cost of a nursing home in Illinois is in the range of $6,000-$10,000 per month, or more.  Who can afford that? Most individuals who are forced to private pay for their nursing home care will see their life savings drained in a matter of months, and you might not be able to keep your spouse at home or leave your children the financial legacy that you worked you entire life to provide.

You see, Medicare pays for a great deal of the health needs that boomers and seniors incur. However, for diseases such as dementia or Alzheimer’s, Medicare has no solutions. You are on your own.  Our healthcare system has an inherent unfairness in it.  For example , if you have a disease that Medicare will cover, you’re okay.  But with dementia, Alzheimer’s or chronic conditions that require long-term care, there are no governmental benefit solutions, other than qualifying under the Medicaid program, which is difficult to obtain because Medicaid (unlike Medicare) is “means tested” (i.e., based on assets and income).

The rules for Medicaid in Illinois are a minefield for the inexperienced.  A competent, experienced Elder Law Attorney with significant Medicaid experience can guide you in your dealings with the State and ensure that you are financially eligible–ethically and legally.

Anthony B. Ferraro, Attorney – MS Tax – CPA, has been in practice for over 25 years and can assist you with all aspects of Medicaid in Illinois, including:

  • pre-planning
  • wait and see planning
  • crisis planning
  • filing an application for Medicaid qualification

At The Law Offices of Anthony B. Ferraro, LLC, Mr. Ferraro, his associates and staff are trained and will to help you get the benefits you need for a comfortable future and peace of mind – without going broke before you die.

As mentioned above, Mr. Ferraro can help you with:

Pre-Planning (Proactive) Planning, when there is plenty of time and opportunity for planning (starting at about age 60, or sooner if there is a known health issue) and using, for example-

  • Special purpose documents that we prepare for you, such as a Medicaid asset protection blueprint
  • Current interpretation of changing Illinois Medicaid law, rules and policy
  • Illinois Medicaid eligibility review and and application filing strategies at the point of needing a nursing home

Wait and See Planning, when there is a diagnosis of a chronic illness or aging problems, but you can still remain at home for a period of time into the future.

– and –

Crisis Planning, when you or someone you care for needs to be financially eligible for Illinois Medicaid as soon as possible because they are:

  • about to enter a nursing home
  • already in a nursing home
  • in need of preparation for a Medicaid application
  • require a review of a Medicaid denial

Please click here to receive our FREE Report entitled “Don’t Go Broke In A Nursing Home!”, or call (847) 221-0154 to set up your no-cost 15 minute telephone consultation.