The article below says it "may" be helpful to contact an elder law attorney. I would argue that the elder law attorney should be contacted as soon as there is a diagnosis of dementia or any condition that may lead to long term disability and the inability to take care of yourself or a loved one. Too often families listen to non-legal professionals or attorneys who do not focus on elder law and spend tens of thousands of dollars before they finally contact a skilled elder law attorney. The myth continues that sound legal advice is too expensive. Please tell that to the daughter who cried last year after ravaging her father's IRA to pay for the nursing home care he was receiving; her financial advisor told her there was nothing else to do. Had she paid for a two-hour consultation and hired me a year earlier her father would have qualified for Medicaid months sooner and had over $80,000 more left in his IRA to pay for non-covered things to make his daily life better. Luckily his children pay for the "extras," things like regular haircuts, cable television and special food that are not covered under the nursing home daily rate or the $50 he is allowed to retain as a Medicaid recipient. Oh, and to add insult to injury, he now needs to pay federal income taxes because his income was too high last year due to the IRA distributions. Too expensive? Listening to their financial advisor was the costliest decision this hard-working family ever did. Elder law attorneys are here for a reason. We do not offer investment advice. Investment advisors should not offer Medicaid planning advice. The good advisors work with elder law attorneys as a team. If your advisor does not recommend that you see an elder law attorney, question why.
If you or a loved one are facing impending changes that could halt your independence, please contact me. You will walk out with information and referrals to local professionals who can help.
Patient Money - Finding the Right Care for the Elderly - NYTimes.com
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