In this Elder Law Minute, Wes Coulson, Southern Illinois Elder Law attorney, discusses long-term care costs and at what age someone should consider asset preservation planning to protect their life savings from these potentially devastating costs. ? Are We Old Enough to Need to Worry About Long-Term Care Costs? Transcript: Hi, I’m Wes Coulson and this […]
Major Changes to VA Eligibility Rules: Asset Allowances
In this Elder Law Minute, Wes Coulson, Southern Illinois Elder Law attorney, begins a four-part series, Changes to VA Eligibility Rules, and in this first video discusses the new asset allowances rules and how they may affect anyone applying for VA benefits. ? Major Changes to VA Eligibility Rules: Asset Allowances Transcript: Hi, I’m Wes Coulson […]
Married Couples and Medicaid: How Much Assets Can the Community Spouse Keep?
If you are married and looking at applying for Medicaid, there are bound to be numerous concerns regarding the “community spouse,” the one who is not going into the nursing home, and what assets they are entitled to keep. One important asset the community spouse is entitled to keep is the residence. In addition to […]
Married Couples and Medicaid: Your Residence
The opportunity to protect your residence when one person of a married couple goes into a nursing home is different, consistent with Medicaid eligibility, than if you are a single couple. For married couples, while the spouse who is going to apply for Medicaid can only keep $2,000 worth of assets, the spouse who is not in […]
How Can I Protect My Residence From Long-Term Care Costs?
For most people their residence is far and away their single most valuable asset. So, it’s no doubt that one of the most pressing questions we get during Asset Preservation Planning is: “Well, if I am facing nursing home placement, how can I protect my residence from being lost to the cost of my care?” […]