1232 Blue Ridge Blvd, Hoover, AL 35226

Nolan Elder Law and Estate Planning, LLC Blog

Friday, October 14, 2016

Medicaid Roadmap- What is it?


Someone once said that “We are all pilgrims on the same journey but some pilgrims have better road maps.”


Many adult daughters (and a few adult sons) are faced with the challenges of becoming caregivers for their mothers and fathers. About age 50 or so, they begin to realize that mom and/or dad is not as healthy as he or she once was. This raises all sorts of questions, including:


Who will take care of them as they need more care?


Can they stay at home? If so, for how long?


Where can they go if they can’t stay at home?


How much does it cost to hire caregivers to come to them?


Is that covered by insurance?


What is the difference between an independent living community, an assisted-living community, a memory-care facility and a nursing home?


Are any of those expenses covered by insurance?


Medicare- what exactly is it? Do they have it? What does it cover?


TriCare for Life- ditto


VA benefits- are they eligible? If not, can they become eligible?


How much money do mom and dad have in savings?


Do they have long-term care insurance?



Are mom and dad keeping their bills current?


Do they have basic estate planning in place and where is it?


Is it too late to see about protecting their life savings from the overwhelming costs of nursing home care?


These are common questions that the 50 year-old daughter must answer in order to be an effective caregiver. This is where a roadmap comes in handy. We call it a “Medicaid Roadmap”. Our roadmap is designed to alert the family to many of the pitfalls they will face over the remainder of their loved one’s life. But as the TV ad says, but wait! There’s more! Not only does it alert you to the pitfalls you will face, this roadmap actually helps you avoid those pitfalls entirely.


For example, if it will cost Mom $5,000 per month to pay for care, which pot of money should that bill be paid out of and what are the consequences of taking it out of one versus another? Are there tax implications? Inheritance implications? These are issues that are best dealt with upfront, not after a costly mistake has been made.


How does it work? We meet with the family and collect information about assets, income and existing planning and then we crunch a lot of numbers. The result is your own custom Medicaid Roadmap, available in a week or so. This will be your guide to help you make informed decisions about a wide range of issues over the rest of your parent’s life.


If you would like to learn more, call or email us at your convenience.


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