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Experienced Eaton, Ohio Medicaid and Nursing Home Planning
Eaton, Ohio, in Preble County, is 41 miles north of Cincinnati, Ohio. While the town started small, its location hastened an increase in population through the years, and today there are more than 8,000 residents of Eaton. A few of the attractions in Eaton and nearby include Splash Moraine, Miamisburg Mound, Cox Arboretum & Gardens Metropark, Sycamore State Park, and the Wayne County Historical Museum. Preble County has only one city—Eaton—which is the county seat, named for William Eaton.
The majority of Preble County is farmland—the area consistently ranks in the top ten in hog and corn production for the state of Ohio. Most of the county’s communities are small, with a rural atmosphere. Annual festivals and events draw visitors from the county and beyond, including the Black Walnut Festival in Camden, The Apple Fest in New Paris, and White Christmas in Eaton. You can also find plenty of art and culture in Preble County at Eaton’s Art Association. Crafts and fine arts classes are offered, along with a number of exhibitions. Those who desire a quiet rural home, along with access to larger cities, will find Eaton a particularly good place to live.
The Preble County Roberts Bridge is another national landmark not to be missed—Roberts Bridge is Ohio’s oldest covered bridge, as well as the last double-barreled bridge built in the state. In fact, there are only six double-barreled bridges remaining in the entire United States, with the Roberts Bridge being the oldest, as well as the second-oldest covered bridge of any type in the nation. In 1986, Roberts Bridge was vandalized, heavily damaged by fire, then the bridge was repaired and moved to a different location Eaton in 1990.
Serving the Medicaid and Nursing Home Needs of Eaton, Ohio Residents
The Lovett & House attorneys know the very best ways to help those who are facing a permanent nursing home stay, considering assisted living, or are helping a loved one looking at long-term care. The highly experienced attorneys of Lovett & House will work hard to help your family hold on to as much of your hard-earned dollars as possible, rather than spending it all on nursing home care. At Lovett & House, we can thoroughly answer your questions, helping you plan for the future in a way that is unique to you and your situation.
Why is Eaton, Ohio Medicaid and Nursing Home Planning Important?
Most adults think they can put off planning for long-term care until the need actually arises. There are many problems with this type of thinking, primarily due to the fact that Medicaid has a five-year “lookback” period that penalizes gifts in order to qualify for Medicaid.
Although one may make gifts within that five-year look back period, this creates a period of ineligibility that could be avoided if one does the planning before these five years starts. Even if one does not have five years to wait, the sooner one starts the process, the greater the odds that more can be saved. This means it is best to prepare for the future, and for the possibility that you might need to go into long-term care at some time in your future—before it happens.
Medicaid planning is crucial, as Medicaid provides for the long-term care needs of most of those who end up in long-term care. Your Medicaid planning attorney can help you plan for the future while preserving your assets so they can be used for the benefit of your spouse, dependents, and beneficiaries, reducing the fear of impoverishment, while utilizing all sources of assistance. This planning also makes it possible to provide the best possible care for the one who needs it.
The Basics of Eaton, Ohio Medicaid and Nursing Home Planning
The cost of a nursing home in Ohio can be over $300 per day—which is why Medicaid is a common source of funding for long-term care in Ohio and is the only option for many. You must have no more than $2,000 in countable resources. These include real estate and money, although there are certain resources that are exempt. In Ohio, your car can be exempt, and your home is exempt so long as your spouse is living there. Your personal belongings are exempt, and any retirement accounts you have are counted as assets only to the extent you can withdraw money from them.
If you are disabled, blind, or are 65 years old or older, and you need nursing home care, you must have an income that is at or below $2,313 per month (as of 2019) to qualify for Medicaid nursing home benefits. If both spouses are applying, the limit is $4,626. In certain instances, you might still qualify, even if your monthly income is above that threshold because Ohio allows those who are 65 or older, blind, or disabled to use unpaid medical bills, nursing facility bills, or medical insurance premiums to spend down their income, and qualify for Medicaid.
If you fail to engage in Medicaid and nursing home planning, you could find yourself in the position of having to spend everything you have spent your life saving on a nursing home before Medicaid will kick in and pick up the tab. It is essential that you discuss your future with a highly experienced Medicaid and nursing home planning attorney, so you do not end up in a difficult situation later on.
How an Eaton, Ohio Estate Planning Attorney from Lovett & House Can Help
A Lovett & House Medicaid and nursing home planning attorney will help you understand all the implications of failing to plan for a nursing home, answering questions such as:
- What assets can I keep?
- What will happen to my spouse who will remain in our home?
- What documents do we need?
- When is it appropriate to make gifts for loved ones?
- How much can I give away?
- Could a trust be a useful document in my situation?
Our highly skilled Medicaid and nursing home planning attorneys will help you plan in the very best way possible for the future. We will work hard to help your family retain some of your hard-earned dollars, rather than spending it all on nursing home care. Contact the Lovett & House estate planning attorneys today! Call us at 937-667-8805.