Estate and Elder Planning- Help for the Elderly
It was just an ordinary Thursday night until I got the call. The frail and frightened voice of my father beckoned me to come over. He had fallen. It took him nearly half an hour to reach the phone. When I got there he asked me to just wait around an hour to see if the pain would just go away. But I knew when he couldn't stand it was just the beginning.
Diagnosed with a broken hip he had to undergo surgery. Then to recovery and then to inpatient physical therapy. We are on our way I had thought... But then there was the emphysema and the COPD and the fear of not catching his breath. There was one incident where I did not think he would make it. I was summoned to the Emergency room because he could just not catch his breath.
Luckily he was able to regain his breathing. But this incident left a lasting impression in regards to physcial therapy. Before I knew it he was heading to a nursing home.
The next fright we got was realizing the cost of his care. Well over five thousand dollars a month was his payment to the nursing home. And of course we had not the foresight to purchase nursing home insurance. So Medicaid would have to step in only after all of his funds have been depleted. All of the money he has saved over the years, all the stocks and bonds he has held onto are going to the nursing home. This leaves my father even more depressed thinking he will have nothing to leave for my sister and I.
A few days later my friend hands me a newspaper article about a seminar. This seminar is about planning for the Elderly financially. What the heck I give them a call.. Only to find myself talking with a lawyer a few days later. The lawyer is one of many who have been trained by the Estate and Elder Planning Center. They are trained in the Medicaid laws and can get around some of the rules Medicaid set up. Suddenly there is some hope! There may be a possibility of getting at least half of the money saved for whatever my father wishes. Awesome. Some relief in a crisis!
Now the jury is stillout on whether or not this is an effective intervention.. but it does intailly provide me with some hope. Mind you the cost is termendous when a perosn is in crisis. So if you intend to go this route sign up early so that things can be taken care of.
Just an update on how the Elder Planning Center is helping my Dad. It seems that they were able to put aside at least half of the money into a trust fund and use some of the funds to help pay for his stay at the nursing home. It will be about a year before he is on true medicaid, but it is a step in the right direction. So far this has been a positive experience for me and my father. I recommend you contact the Elder Planning Center prior to any crisis.
- Estate Planning & Elder Law Center
Estate Planning & Elder Law Center