There are four videos below which cover Medicaid spend-down, Irrevocable Trusts, 60 month look-back period, and illustrations of estate planning for clients in Ohio who are concerned with asset protection.
Note, the costs for nursing home care listed in this video are from 2016.
As of 2021, the average cost for a private long term care facility is approximately $9,500 per month.
For most individuals, $9,500 per month paid to a nursing home would quickly deplete assets and leave little or nothing for the surviving children or beneficiaries.
If you have questions on these topics, contact estate attorney Elliott Stapleton for an initial consultation.
Medicaid and Elder Law Topics: