Oak Lawn Elder Law | Proper Prior Planning

Proper Prior Planning Prevents Poor Performance: This concept is not foreign to anyone. In anything that you do, prior planning is the only way to ensure a successful event. Whether it is a picnic or retirement, you need to have the proper items to make the event comfortable and rewarding. Just like a picnic, there are some items that are of more importance than others. There are also items that will only be used at different stages of the event. A picnic needs food, drinks, and entertainment. How you fit those needs has some commonalities and some unique items to yourself.  For most individuals, the drink portion of a picnic involves some prepackaged beverage. Whether that beverage is water, wine, pop, or juice, it usually comes in a self contained and sealed container. Similar to the beverage category of a picnic, Elder Law Planning has commonalities and uniqueness. This comes in the form of the documents that need to be prepared and steps that need to be taken to ensure a plan is in place.

 As is discussed before, there are multiple stages of planning that is needed. I categorize the stages into three parts. The first part is the Preparing Stage. The second part is the Utilization Stage. The final part is the Assistance Stage. The Preparing Stage is similar to packing the picnic basket. You gather all of the supplies you believe that you will need for the picnic. If you do not have all of the materials, you purchase the required items from the store so that your basket is complete. In Elder Law, This is when you purchase the Estate Planning Documents such as a Will or Trust and fund the proper vehicles to fill your basket. The Utilization Stage is the picnic itself. This is when you enjoy the items in your basket. This stage is when you enjoy the fruits of your planning and reap the benefits that your foresight provided. The Assistance Stage is similar to the period after the picnic. This is when you pack up the leftover food and clean up your picnic site. All three stages will have to be done, with or without planning. How painful the completion of these stages are, will be determined by planning. Additionally, if you plan ahead you will have a lower overall cost of the picnic.  The proper planning for your senior years is like the proper planning for a zoo picnic. If you bring a sandwich to the zoo that you made at home, it will cost much less than if you wait and purchase a sandwich from the zoo food court.

For more information on Elder Law call:

Law Office of Jonathan W. Cole
5013 W. 95th St.
Oak Lawn, IL 60453
708-529-7794

Oak Lawn Elder Law | Medicaid Spouse Asset Options

A recent ruling in Connecticut may offer new options for Medicaid planning in Illinois. 

Nondisclosure of substantial assets has always been an option for spouses of individuals seeking Medicare assistance in Illinois. If your spouse is seeking Medicare eligibility for long-term nursing home care, you do not have to disclose any asset that has been held solely in your name longer than the applicable “look-back” period (usually 3 years or 5 years). However, for some, nondisclosure comes with a heavy price.  The downside is that if you do not disclose your assets, you will not be allowed to keep any assets worth more than the Medicare spousal allowance ($109,560); your spouse’s income would be paid directly to the long-term care facility; and you might be responsible for separate payments to the Illinois Department of Healthcare and Family Services.

However, a recent ruling in favor of a Medicare recipient in Connecticut may change the effect of nondisclosure of assets here in Illinois. Morenz v. Wilson-Coker, 415 F.3d 230 (2^nd Cir. 2005). An Appeals Court upheld a decision made by a Connecticut Federal District Court that allowed a Medicare Recipient to remain eligible for Medicare benefits even though the recipient’s spouse had separate assets that exceeded the eligibility amount. The Court stated that 1) when the recipient’s spouse signs a refusal to support the institutionalized spouse and 2) the Medicare recipient assigns all support rights the state, that assignment bars Connecticut’s Department of Social Services from considering the assets of the recipient’s spouse from their initial Medicare eligibility.

While a case of this nature has not been tried in Illinois, the Illinois Department of Family Services is working with the Illinois legislature to implement polies that mirror the federal guidelines. It is only a matter of time before these laws are reflected in Illinois.

For more Elder Law Information call:

Law Office of Jonathan W. Cole

5013 W. 95th St.

Oak Lawn, IL 60453

708-529-7794

www.jwcolelaw.com