Nursing homes in Illinois cost an average of $7,000 to $9,000 per month, depending on location and level of care. That’s well over $100,000 per year. Without a plan, families can be forced to sell the home or drain savings to cover those costs. The good...
How to Apply for Medicaid in Illinois (2025 Guide): For many Illinois families, applying for Medicaid isn’t just about paperwork. It’s about protecting the health and dignity of a loved one while also shielding the family home and savings from being drained by long-term care costs....
An Eldersmart Guide to Irrevocable Trusts for Illinois Residents: An irrevocable trust is a legally binding agreement where the grantor permanently gives up ownership and control of assets—such as property, investments, or life insurance—by transferring them into a trust. Once established, the terms of the trust...
Avoid Losing Your Life Savings to Nursing Home Costs: In Illinois, long-term care can cost over $80,000 per year—and Medicaid is the only safety net for most families. But qualifying isn't simple. Between income limits, asset rules, and a strict 5-year look-back period, one wrong move...
Why Medicaid Planning with an Elder Law Attorney Matters in Illinois: Long-term care (LTC) ranks among the biggest and most underestimated expenses of retirement. In Cook County, the median monthly cost of a nursing home bed is about $5,834 for a semi-private room. These costs can...
Medicaid Planning in Illinois: What It Is, Who It Helps, and Why It Matters: Medicaid planning involves developing legal and financial strategies to help individuals qualify for long-term care Medicaid while protecting their assets. In Illinois, where nursing home costs can exceed $7,000 per month, Medicaid...
2025 Medicaid Income Limits in Illinois: What You Need to Know: If you're wondering whether you qualify for Medicaid in Illinois, one of the most important factors is your monthly income. Illinois sets specific income thresholds that determine eligibility for different types of Medicaid, including long-term...
Medicaid Estate Planning in Illinois: How to Protect Your Assets and Qualify for Care Strategic Asset Protection to Preserve Your Legacy While Securing Long-Term Care Coverage By Martin Fogarty, Founder of ElderSmart "Mr. Fogarty, we worked our whole lives to build something for our children. If my wife...
What Is the Difference Between a MAPT and a Revocable Living Trust? Understanding Two Powerful Estate Planning Tools and When to Use Each By Martin Fogarty, Founder of ElderSmart When Illinois families come to my office seeking to protect their assets while planning for potential long-term care needs,...
What Happens If You Apply for Medicaid Too Late? Understanding the Critical Windows You Can't Afford to Miss By Martin Fogarty, Founder of ElderSmart The phone call came on a Tuesday afternoon. "Mr. Fogarty, my mother has been in the nursing home for eight months, and we're running...