Southwestern Ohio Elder Law Attorneys
Providing paths to retirement and the golden years
There is a greater emphasis on retirement options, Medicaid planning and Medicare issues, healthcare directives, wealth preservation through estate planning, and other elder matters than ever before. As baby boomers reach their 50s and 60s, there will be even greater need for information and legal counsel for seniors.
At the Dayton, Ohio law firm of Fox & Associates Co., L.P.A., our lawyers offer guidance in planning for your own retirement or help a parent or other elderly relative with the issues they may be facing. Elder law encompasses:
Planning ahead to maintain Medicaid eligibility
Medicaid is a government program funded by state and federal funds. It provides health coverage to seniors and those who meet certain eligibility criteria. Medicaid is an alphabet soup of different parts. Those who are 65 or over and who receive Social Security qualify for Part A and Part B automatically. Part C lets you choose to receive your healthcare through an organization, and may allow you to lower your costs or receive additional benefits. Part D is voluntary and is paid for by you, the enrollee. In general, here is what the different Parts cover:
- Part A — hospitalization
- Part B — physician services, lab tests, durable medical equipment and outpatient services
- Part C — the Medicare Advantage Plan offered by private companies (such as an HMO or PPO)
- Part D — Prescription medications
In Ohio, Medicaid is administered by the Ohio Department of Jobs and Family Services. Because eligibility is largely tied to income and assets, Medicaid planning is essential to ensure that Medicaid help is available to you or your parent when needed without wiping out all assets or risking penalties. As experienced Medicaid planning attorneys, we can help you with options that can help preserve wealth without losing Medicaid eligibility. Options may include:
- Long-term care insurance
- Irrevocable trusts
- Other instruments and strategies designed to protect your assets
Use estate planning tools to your advantage
A solid estate plan is the best way to prepare for retirement, preserve wealth and secure your future or provide for the needs of elderly parents. It is important to have a strategy that will allow you to pass on wealth to your children and loved ones should you become ill or injured — events that could decimate your estate. At the same time, you may have a parent who can no longer take care of his or her own financial affairs. A conservatorship will allow you to help your parent and see to it that their assets are protected. Conservatorships can also safeguard against fraud, to which the disabled or elderly are sometimes subjected.
Contact us for a consultation
Your legal challenge deserves the individual attention and benefit of experience that the attorneys at Fox & Associates Co., L.P.A. offer. We provide aggressive representation and compassionate counsel to clients in Dayton and throughout Ohio’s Miami Valley. To schedule a consultation, please contact us online or call our office at 937-258-3668. For your convenience, we have locations in Dayton and Huber Heights.
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