What assets are you allowed to keep if you're on Medicaid?

What assets are you allowed to keep if you're on Medicaid?

Transcript: Attorney Tom Olsen: My guest today is Attorney Robert Hidock. He does our Medicaid and nursing home planning. Robert, I know that you've got a tool that is exclusive to the Olsen Law Group and it's called a Medicaid assessment that we do for clients because we meet so many clients either single, widowed, married couples, they don't have an understanding exactly of what assets they have are protected from nursing homes and Medicaid and a lot of confusion out there so we offer for them what's called a Medicaid assessment. Tell our listeners about that. Attorney Robert Hidock: Well, what it is designed to do, it is a blueprint for a family to follow. We will sit down with them, we go over their income, we go over their assets and we show them where their pitfalls are and what assets are exposed, we show them how we can protect their assets and we also, as far as anything is concerned, like if a married couple is, we can tell that the person who's at home, in the community so to speak, how much money the person that's going into the nursing homes income can be diverted. It truly is a wonderful tool that's customized for each individual person so they'll know exactly what to do if a Medicaid situation should arise. We are all about education and pre-planning here. When someone is having a crisis medical situation, we don't want them to worry about their assets, we want them worrying about their loved ones because we have the plan all set up. I met with a woman earlier this week during crisis management and she was like, "God, this is wonderful information you're giving me. I wish I knew about it sooner." I was like, "Well, we offer workshops all the time. We've got one coming up on July, 22nd, where we give a tone of education which is part of pre-planning, getting to learn. Then after that, we offer the Medicaid Assessment where people can really get a good idea of where they stand should an event happen. Best of all, it shows them how to preserve their estate plan just in case something bad happens." Attorney Tom Olsen: We know that the cost of a nursing home, $8,000 to $10,000 a month, is on most people's minds, oKay? Attorney Robert Hidock: Yes. Attorney Tom Olsen: Whether you're the client and you're worried about you or your spouse going into the nursing home or whether you're the child and you have an elderly parent in Florida and you're worried about them going to a nursing home, we know people are concerned about it. Rather than wait till the last minute, if you'll come down and meet with Attorney Robert Hidock, give him a description of the assets that you own, [music] we can do a Medicaid assessment so you know exactly what's exposed and what the tools would be to protect those assets from nursing homes and Medicaid. That's the Olsen Law Group in Orlando. Hey folks, my name is Tom Olsen. The name of the show is Olsen on Law. We're going to take a break, we'll be back in just a few minutes.