Planning for the future is never easy, especially when determining how you would like to distribute your assets and property once you are no longer here. But establishing a cohesive estate plan is a crucial step to take \u2014 and one that can give you peace of mind as you think about the years ahead.<\/p>\n
Elder law encompasses many legal matters affecting an older or disabled person. An Ohio elder law lawyer specializes as a legal advocate for aging adults and their loved ones. Ohio health care costs are rising faster than most people\u2019s finances can afford. Advances in medicine and health care in Ohio are helping some people live longer lives than ever. The US federal government anticipates nearly 70 percent of individuals turning 65<\/a> will require long-term care. Elder law attorneys help plan to protect their clients\u2019 nest eggs for when, not if, a long-term care event strikes to upend expenditures and decimate inheritable assets.<\/p>\n Whether you seek legal counsel for yourself or a loved one, elder law lawyers have a wide range of expertise and services you will require at some life stage, whether in your 40s, 50s, or beyond. Actions you take in one part of your life may have unintended legal consequences in others. Without the benefit of elder law counsel, you can put yourself in an unfavorable position.<\/p>\n Proper planning for your later years requires a tailored approach based on your needs, goals, and circumstances. A skilled Ohio lawyer will listen to you, consider a wide range of factors, and develop an estate plan that gives you the ultimate peace of mind.<\/p>\n Estate planning and elder law are necessary for those who wish to age and pass as comfortably as possible while minimizing the negative effects of their deaths on their families.<\/p>\n Estate planning specifies your orders, or that of an aging parent, for asset management after you, or they, pass away. Elder law legal strategies \u2014 like long-term care planning \u2014 can remove the burden of caregiving from relatives and ensure seniors get the best services available. The secret to bridging estate planning with elder law is understanding how they successfully work together.<\/p>\n There are risks involved with each type of planning. Without elder law legal strategies, individuals with serious health problems and limitations may not get adequate assistance or be able to afford it. In the absence of estate planning, the potential for conflicts of interest can tear estates and families apart.<\/p>\n When most people make an estate plan, they think about how that plan can help take care of their spouse and future generations when they pass. But careful estate planning can also protect you from ruinous medical costs later in life. In addition to arranging for the transfer of assets after passing, an estate plan can also help you qualify for long-term care programs, such as Medicaid.<\/p>\n Medicaid is a federal and state program, and the rules vary from state to state. If you reside in Ohio and need Medicaid, Ohio\u2019s Medicaid rules apply. If you or a loved one are concerned with the high cost of long-term care and qualifying for Medicaid, an elder law attorney can help. An elder law lawyer who understands Ohio\u2019s specific Medicaid rules can legally navigate you through the application and approval process.<\/p>\n Ohio Medicaid gives individuals and families access to health care resources they may not have otherwise. If you or a loved one need Medicaid benefits, you must meet specific eligibility requirements in the state of Ohio.<\/p>\n To qualify for benefits, you must:<\/p>\n The Medicaid application process can be complicated and some families worry they don’t meet the household income level to qualify for care. Without the aid of Medicaid, the cost of an Ohio nursing home can wipe out your family’s savings, retirement funds, and inheritance for your loved ones or result in the loss of your home.<\/p>\n The cost of long-term care often shocks retirees and can place an extreme burden on them or their families. Long-term care expenses are uncertain and can fluctuate. Attempting to plan for this yourself without an experienced elder law attorney\u2019s help is risky, and even the most carefully thought-out retirement plans would not be able to handle this financial emergency.<\/p>\nWhy Do You Need an Ohio Elder Law Lawyer in Your Corner?<\/h3>\n
How Does Estate Planning and Elder Law Work Together?<\/h3>\n
What is Ohio Medicaid?<\/h3>\n
How to Qualify for Medicaid Coverage in Ohio<\/h4>\n
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What is the Cost of Ohio Long-Term Care?<\/h2>\n
OHIO ANNUAL MEDIAN COST OF CARE (2023)<\/strong><\/em><\/h5>\n