At Drach Elder Law Center, LLC, we prepare handcrafted estate plans that guide you on your path. These custom estate plans allow us to:
Protect your family
Preserve your assets
Define your legacy
We plan for the need before it arises, so when the need does arise, you’re prepared. We think of things you may never have thought to plan for, from little things like who will mow your lawn to who would take care of you if you get sick. Our approach leaves no stone unturned.
Unlike many Law firms, we refuse to use a “Cookie Cutter”, One-Size-Fits-All Approach. Every plan we write starts from scratch, handcrafted page by page to meet your specific needs. At our law firm, no two plans are ever the same.
We know planning for the future can be uncomfortable, that's why from the moment you step foot in our law firm you can rest assured knowing you'll be treated like family. We take the time to listen to what you want for your future, and write a plan around that future.
Drach Elder Law Center
500 Third Street
Wausau, Wisconsin 54403
Will I lose my house if I need Medicaid?
The straight answer to that question is no. Let’s break it down into a couple of parts. First of all, husband and wife; if one spouse is in a nursing home, the other spouse can claim that community spouse’s house, home, the principal residence, as exempt. There is a limit of $750,000 so if the house is more, than $750,000, then there may be an issue but we have very, very few homes here in Central Wisconsin that have value in excess of $750,000. So the short answer for the community spouse is no, you won’t lose your house. That doesn’t mean that we don’t have to do some planning about the house the fact is that Wisconsin has enacted some provisions and statutes that allow the Department of Health Services to come after the house as part of the surviving spouse’s __________, after the surviving spouse passes away, which could be five or ten or twenty-five years later, so we still have to do some planning to protect that house but as long as the community spouse is alive, the house is protected and Social Services cannot put a loan against it. Now, for single persons, the rules are different. If you’re a single person, the house maybe made temporarily unavailable, and you would do that by maybe perhaps listing the house for sale with a broker. If you do that, then the house is not going to be a problem in terms of the medical assistance application. It’s unavailable, it’s not counted, and so if you otherwise qualify, then the house won’t be a problem. However, at some point, the house will be sold, and when it is sold, the proceeds then would go on to pay for the cost of care which would mean, if the house is sold while that person is still in the nursing home, then they would have more assets than they would be entitled to under the exemption requirements, and so then they would have to go off of medical assistance until those assets were used up.