Diane Kotkin recently attended Wealth Counsel's Elder Law Immersive Program and received her Elder Law Certification to further assist her clients with long-term planning. With this elder law certification, Diane can further counsel and guide older adults with issues regarding planning for incapacity and long-term care, Medicaid and Medicare coverage (including coverage of nursing home and home care), health and long-term care insurance, and health care decision-making. Her services also include drafting supplemental needs and other trusts, assisting with the selection of long-term care providers, home care and nursing home problem solving, retiree health and income benefits, retirement housing, and fiduciary services or representation.

Diane and her team understand that all families fear the costs of nursing home care. Our clients are relieved when they learn that they can take steps to protect the family home and assets. We will help you take control of any estate planning or elder care issues you may be experiencing.

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Nursing Home Care

When elderly people are no longer able to care for themselves, their adult children can be faced with the difficult decision to place them in a nursing home to ensure they receive the care they need. Unfortunately, the cost of nursing home care in the United States can be prohibitively expensive -- Long-term care financial company Genworth reported in 2024 that the average annual cost of a nursing home private room in Maryland is $173,375 -- and can rapidly exhaust the assets of the individual's estate, leaving families struggling to cover the ongoing costs of care.

Whilst Medicaid may serve as a critical safety net for individuals who cannot afford nursing home care, it comes with significant challenges. To qualify, applicants must meet strict income and asset limits, which often requires them to "spend down" their assets before becoming eligible. This process can be financially and emotionally burdensome, forcing families to make difficult decisions about their loved ones’ care. Diane and her team can help families to explore trusts, assets, and other estate planning strategies that can help to pay for nursing home care while protecting the family home and assets.

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Protecting Your Home and Assets

Senior citizens can face a difficult dilemma when trying to qualify for Medicaid coverage. Many must choose between selling the home they've lived in for years, or depleting the assets they've spent a lifetime building. Often, adult children are left with no choice but to sell the beloved family home, as Medicaid benefits do not cover long-term needs for in-home or nursing home services. Consulting with an attorney experienced in asset protection and Medicaid planning can help seniors to preserve their homes and protect their assets from being exhausted.

Careful asset protection can help you to minimize estate taxes, ensure that your heirs are taken care of, and shield your assets from the nursing home, other creditors, lawsuits, and government agencies. Assets may include real estate, life insurance, bank accounts, vehicles and other valuable possessions. Diane can help you to protect your assets using the strategies and solutions best suited to your family's unique circumstances, providing you and your family with security and peace of mind.