In a June 4, 2009 Cleveland Plain Dealer Article, Ohio Speaker of the House Armond Budish advocates that Ohioans utilize nursing home planning to save their assets. Budish likens nursing home planning to tax planning as a way for seniors to save their assets. Budish states that, “It puts a greater burden on the government, but there is nothing wrong with doing it because the law allows it. . . . Congress recognized that people shouldn’t lose their savings before being covered by Medicaid and that’s why it created the options to move assets. People should be able to avail themselves of the protections that Congress has set up.”
If you would like to follow Speaker Budish’s advice to preserve your assets, our firm can help.
The attorneys at The Thom L. Cooper Co. have the experience and expertise to answer all of your questions relating to Elder Law and Estate Planning, including:
- Will I outlive my money if I need nursing home or assisted living care?
- How can I get veterans benefits or other benefits to pay nursing home costs / assisted living costs?
- Do I need long-term care insurance?
- How can I avoid paying too much in taxes?
- What are the best ways to preserve my assets?
- How can I leave the most to my children and grandchildren without losing control of my finances?
