| Dent Coulson Elder Law | St. Louis, Metro East and Effingham

Why do I need an Asset Preservation Plan?

“I’ve made it clear to my family to never put me in a nursing home. So, why do I need an Asset Preservation Plan?” While no one wants to or plans to go into a nursing home, the hard fact is that some of us will have to go into a nursing home in our […]

What you can and can’t keep with Medicaid: Second Residences and Rental Property

When it comes to second residences and rental property, the Medicaid rules are pretty clear that they aren’t exempt. However, there may be ways to preserve these assets as part of the asset preservation planning process. There are a lot of possible solutions and, although tricky, it just takes the right possible solution matched to […]

What you can and can’t keep with Medicaid: Prepaid Funerals

Generally speaking, both Illinois and Missouri allow an exemption under Medicaid for prepaid funerals. However the rules are very technical and if you are going to purchase a prepaid funeral plan, you really should do that only under the direction and guidance of an experienced elder law attorney. In this Elder Law Minute, Wes Coulson, Illinois Elder Law […]

What you can and can’t keep with Medicaid: Asset Limits – Married Applicants and Community Spouse Resource Allowance

When determining asset limits for Medicaid, married applicants have something unique available to them called the community spouse resource allowance. Basically, what that refers to is the amount of otherwise non-exempt assets that the rules allow the spouse who is not in the nursing home to keep. This is great news for Illinois and Missouri applicants, […]

What you can and can’t keep with Medicaid: Asset Limits – Single or Widowed Applicants

Currently, the asset limits for a single or widowed Medicaid applicant in Illinois and Missouri are the same, $2,000. But, that will soon change in Missouri as they will begin increasing their limit by $1,000 per year until the asset limit reaches $5,000, then it will be indexed to inflation. These limits affect the non-exempt assets you […]