You Can Protect Your Assets From Being Drained Away By Nursing Home Or Long-Term Care Bills
If you have any assets, including your house, 401(k) or other retirement investments and property, such as a bank account or investment account, you need to protect them before you enter a nursing home. Fortunately, there are many ways to do this. An experienced estate planning lawyer can help you use asset protection to preserve these things for yourself and your family.
My name is William C. Wombacher, and I have been helping families in Peoria and the surrounding areas protect their assets for more than 35 years. I am a certified elder law attorney (CELA) and am the only one practicing in downstate Illinois. I stay informed of all of the changes in elder law so I can help you make the best decisions for your future and for that of your family.
Protecting Your Future
Your eligibility for Medicaid is based on your resources and income. If you have more resources and assets than are allowed, your own personal wealth must be used to pay for nursing home care, leaving your family with nothing. If you are married and one of you needs to enter a nursing home but the other does not, this can make things very difficult for the person who can still live independently. You need to learn about the income rules for spouses. While different rules apply to married couples than to individuals, the danger of losing most or all of your hard-earned wealth is still valid.
I can help you assess your financial situation and put safeguards, such as a Medicaid trust, in place to protect your property and assets. I will explain all of your options and work closely with you to find the right solution for your circumstances.
You have worked hard all of your life. Taking action now to protect your assets will give you peace-of-mind because you know you will not lose everything if you or your spouse must enter a nursing home.
Let Me Help You Protect Your Future And Your Family’s Inheritance
Call The Law Office of William C. Wombacher at 309-674-8125 or toll free at 888-365-0852 or send me an email to schedule your elder law consultation. If you are unable to make it to my office, I will come to you.