Does Medicaid have a 5-year look back period How to protect your life savings from nursing homes.
Atty. Tom Olsen: We know from experience that what most people know about Medicaid and maybe the only thing they know about Medicaid is that Medicaid has a five-year look-back period, so they throw up their hands and say, nothing we could do. If we're going to do something, I should have done it five years ago. What most people don't know is that there are Medicaid-compliant tools that work around that five-year look-back period.
Atty. Robert Hidock: There are, and I equate it to the IRS, Tom. Everybody has their tax bill, but no one pays their full tax assessment. They have legal deductions that will allow them to pay the lowest amount possible, and in the Medicaid world, we have legal, Medicaid-compliant tools that will protect as most assets as possible with only a minimal amount of money going into a nursing home.
Atty. Olsen: Folks, we just want you to know that as you're out there in the community, talking to family, friends, neighbors, co-workers, and you get the word that somebody's going into a nursing home, and there goes all their money, nothing they can do, all they've worked for all their life $10,000 or $12,000 a month, it's not going to last long. Well, we want you to know that the Olsen Law Group in Orlando, we can assist you throughout the state of Florida to protect those assets, keep them free from Medicaid, nursing home claims, and that includes your home, your beach condo, your vacation home, your cash in the bank, your IRAs, you name it.
We've got tools to protect it, and we would love to be of assistance to you at the Olsen Law Group in Orlando. Specifically, Robert would be happy to talk to you about it. If you want to talk to Robert about it, go to our website, olsenlawgroup.com. You'll find a page for Robert Hidock. On his page, you're going to find a number that you can call him, text him, email him. Robert, you just like all the other lawyers in the Olsen Law Group, we spend a lot of our day just talking to people, giving them general information, answering some questions that they mean. Often, that's all they need.
Atty. Hidock: Exactly. I'm happy to give free advice. If I say this one time a day, I'd say 10 times a day. I never feel like I'm working. I feel like I'm always helping people.
Atty. Olsen: Sometimes we tell people, hey, you do need help, and we're willing to help you, but it's also nice to be able to tell people, hey, not to be concerned about, not to be worried about, and you can go on your way not even incurring the attorney's fees. That's a good feeling. When people do need help, of course, we're going to let them know. One thing we do want to know that to do this protection requires that you have a good durable power of attorney for financial affairs.
We can talk some more about that if you want to call us at the Olsen Law Group in Orlando.
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