Experienced Elder Law and Medicaid Planning in Rockville, MD
Here at The Tyra Law Firm, our goal with respect to Elder Law is to help seniors and the people who love them prepare for the financial, medical and legal challenges that come with growing older.
Why is Elder Law such an important and rapidly growing area of the law? Consider the following statistics:
- Approximately one out of every two women, and one out of four men, will need nursing home care at some point in lives
- Nursing home care in Maryland averages between $5,320 to $9,330 for a semi-private room and $5,600 to $10,640 for a private room per month depending on where the nursing home is located and the type of care required. These costs are expected to rise significantly in the coming years
- Approximately two-thirds of families run out of money within one or two years of entering a nursing home
Fortunately, we can use a combination of legal tools and strategies to protect your assets against the high cost of long-term care years ahead of time. This is known as Pre-planning. In addition, we can help you cope with what is often called a Medicaid Crisis situation.
Pre-planning
Pre-planning is for people who are healthy now but want to have a plan in place to protect their assets if they need expensive long-term care in the future. With a properly designed and implemented advance plan of your own, you can preserve your life savings, obtain the care you need, and enjoy the peace of mind that comes with having a plan in place for the future.
Medicaid planning
Did you know that Medicaid is now the largest provider of financial assistance for nursing home residents in the United States? Given the high cost of nursing home care, this is understandable, and perhaps inevitable. What you need to know is that you can obtain assistance from Medicaid to help defray the costs of a nursing home stay, even if you have been denied benefits in the past or been told you have too many assets to qualify for assistance. This situation is known as a Medicaid Crisis. It is considered a “crisis” because the high cost of nursing home care can, and all too often does, deplete a family’s entire life savings.
The information about Medicaid eligibility provided by well-meaning friends, family and nursing home intake staff is often incorrect. Laws governing Medicaid eligibility are complicated and ever changing, even from one year to the next. At The Tyra Law Firm, we understand Medicaid law and can use a range of tools and strategies to help you obtain the assistance you need.
If you are concerned about the high cost of long-term care or faced with a Medicaid Crisis, contact Rockville elder law lawyer Neil Tyra today for a consultation. He can quickly determine if you are eligible for Medicaid assistance and help you obtain that assistance as quickly as possible. Even if you are already living in a nursing home, or have been denied benefits in the past, he may be able to assist you.
