Elder Law

Iron Mountain Elder Law

If you are nearing retirement, or have an aging family member who you care for, there is a long list of matters that require a proactive approach. Where will you live? Who will care for your needs if you lose the ability to care for yourself? How will you protect your assets and property?
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With more than 40 years of experience advising clients on such matters, the attorneys at Ryan & Lynch Law can help you and your family navigate these questions so that you and your loved ones can enjoy the years ahead.
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Our Iron Mountain Elder Law services include:

If you need help addressing any of the matters above, don’t wait another day to begin putting a plan in place. Contact our office today to begin planning for your family’s future. Strategically located, our office serves clients in both Michigan and Wisconsin.

Nursing Home & Long-Term Care

Long-term care can involve many different options. These options are dependent, to a certain extent, upon your current health, available finances, and other such considerations. No matter what your overall situation looks like, however, if you have reached (or are approaching) retirement age, you should begin planning for the potential expense of long-term care. In addition, you should also consider how you can protect your assets in the event that you do require long-term care.
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When you do reach the point where you or a loved one needs long-term care and assistance, having a plan in place will alleviate you and your family of the burdens and costs associated with securing and financing ongoing care. At Ryan & Lynch Law, we help families just like yours prepare for long-term care, making sure that they are adequately cared for and their families are protected.

Medicaid eligibility & asset protection

While Medicaid seems straightforward, it is constantly evolving. Determining eligibility for Medicaid, and applying for it, can sometimes require strategic planning. That is where an experienced elder law attorney can help.
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To be eligible for Medicaid long-term care, you must have income that falls below a threshold amount. If your assets or income exceed this threshold, however, it is still possible to become eligible for Medicaid.
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You could become eligible by “spending down” your income. There are specific guidelines, however, for how this can be done. For example, gifting your income or assets away to family members would violate the rules and your application would be denied. An elder law attorney can help you develop a spend-down plan to ensure Medicaid eligibility.
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An Asset Protection Trust, or APT, is another planning strategy that can protect a Medicaid applicant’s assets from being counted for the purposes of determining eligibility. An APT provides a way for an individual, who is ineligible for Medicaid, to become eligible and receive the care they need from a nursing home. In addition, APT’s protect a Medicaid applicant’s assets for children and other relatives.
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Not all trusts are Medicaid compliant, and our elder law attorneys at Ryan & Lynch Law can help put together a plan that provides for your needs while protecting your property for future generations.

Our team can review your unique situation and provide an informed assessment to help you determine whether you and/or your loved ones are going to be eligible and, if not, create a strategy that helps you protect your assets while also funding the long-term care you require.

When To Contact An Elder Law Attorney

If you feel overwhelmed with making decisions that will affect your care after retirement, we are here to help. We will walk you through all the details during an initial consultation, answer any questions you have, and begin developing a plan that meets your specific need. Give us a call at (906) 774-3808 to get started today.