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...
Can Medicaid Take My House in Illinois? Protecting Your Family Home Through Expert Medicaid Planning By Martin Fogarty, Founder of ElderSmart For many Illinois families I've counseled over the past three decades, the family home represents far more than just an asset on a balance sheet, it's the...
Medicaid Penalty Periods Explained (Illinois) Understanding the Five-Year Look-Back Rule and How to Navigate It Successfully By Martin Fogarty, Founder of ElderSmart When Illinois families come to my office facing the reality of long-term care costs, one of the most anxiety-inducing topics we discuss is the Medicaid penalty...
How to Spend Down Assets for Medicaid in Illinois Strategic Asset Management to Achieve Medicaid Eligibility While Preserving Family Financial Security By Martin Fogarty, Founder of ElderSmart "We have $150,000 in savings, and my husband needs nursing home care." "The social worker said we need to 'spend down' our...
As healthcare costs continue to rise, one of the most pressing concerns for aging individuals and their families is how to pay for long-term care without depleting a lifetime of savings. Nursing home care in the U.S. can cost upwards of $100,000 per year, and...
Illinois Medicaid 5-Year Look-Back Rule (And How to Avoid Penalties) If you’re planning for long-term care in Illinois, understanding the Medicaid 5-year look-back period is essential. Mistakes or missteps can cost families thousands — delaying or disqualifying coverage when it’s needed most. In this comprehensive guide,...