The Law Office of Jeffrey M. Janeiro, P.L.
About The Law Office of Jeffrey M. Janeiro, P.L.
The high cost of long-term care has made planning a critically important issue for seniors and their families. In fact, most seniors will likely require some form of long-term care. Sadly, many of them are unprepared for the significant financial burdens it places on their family’s hard earned savings. Financial devastation looms large for a family facing ongoing care at a rate of $10,000 or more per month.
Long-Term Care Options
While some seniors are able to afford private care, in the majority of cases, the cost of Long Term Care can wipe out a family's savings in a matter of years, or even months. Those who have planned ahead by purchasing long-term care insurance have a degree of certainty and peace of mind, knowing that they have a lesser need to rely on other sources in the future. Unfortunately, many can’t afford the high cost of long term care insurance or worse, because of age of medical condition cannot qualify for long term care insurance altogether. If you do have long-term care insurance, you should be aware of what your policy covers. Many policies have high deductibles or provide for only a short period of care in facility. In fact, many who have long-term care insurance still have to resort to Medicaid to pay for their care.
The other option to pay for care is Medicaid. A joint federal-state program, Medicaid provides medical assistance to low-income individuals, including those who are 65 or older, disabled or blind. Medicaid is the single largest payer of nursing home bills in America and serves as the option of last resort for people who have no other way to finance their long-term care. Although Medicaid eligibility rules vary from state to state, federal minimum standards and guidelines must be observed.
While Medicaid eligibility with respect to long-term care was not difficult in the past, there has been a steady drift towards more complex and restrictive rules, the latest being the Deficit Reduction Act of 2005 which went into effect in 2006. These changes have resulted in complex eligibility requirements for those in need of Medicaid benefits. It’s no longer as easy as reviewing one’s bank statements. There are a myriad of regulations involving look-back periods, income caps, transfer penalties and waiting periods to plan around.
Our law firm has the experience and the expertise to help avoid the financial ruin associated with the high cost of long-term care. Contact us today to start the process of understanding the issues surrounding Medicaid eligibility and to implement the planning and application process.
Areas of practice
- Estate Tax & Gift Tax Planning
- Guardianship/Conservatorship (contested)
- Guardianship/Conservatorship (uncontested)
- Trusts & Powers of Attorney
- Long Term Care Planning for individuals over Age 65
- Planning for Disability for individuals under Age 65
- Administering Special Needs Trusts
- Advising & Drafting Special Needs Trusts
- Attorneys Providing Fiduciary Services
- Contested Estates & Trusts
- Decedent's Estate & Trust Administration
- Disputed Tax Matters
- Elder Abuse/Fraud Recovery Matters
- Estate Tax & Gift Preparation
Jeffrey M. Janeiro, P.L.
Jeffrey M. Janeiro is the Managing Member of the Law Office of Jeffrey M. Janeiro, P.L., where his practice focuses primarily on the areas of estate planning, probate, business succession planning, estate and trust administration, taxation, and real estate. Mr. Janeiro’s interest in this area of the law comes from a desire to work with clients and guide them through the process of developing their estate plan using new and innovative estate, business, and tax planning strategies. Mr. Janeiro’s planning techniques are based on long term goals that provide for both the client and their loved ones during all stages of their life. Mr. Janeiro ensures the firm’s commitment to providing comprehensive, personalized estate planning advice that satisfies his clients’ goals and objectives. In addition to these services, Mr. Janeiro is proud to offer a full service real estate title company and closing office.
Education and Awards
Mr. Janeiro received his Master of Laws in Taxation from New York University, the No. 1 ranked taxation program in the country by U.S. News and World Report. He obtained his bachelor’s degree from Saint Vincent College in Latrobe, Pennsylvania and attended University of Toledo College of Law, where he graduated 3rd in his class. Mr. Janeiro has received national recognition for his excellence in the areas of estate planning, taxation, and real estate.
Mr. Janeiro was an editor of The Toledo Journal of the Great Lakes Law, Science, and Policy, and has received numerous professional and academic awards including the prestigious Mayors Proclamation for Academic Excellence and the Toledo City Counsel’s Outstanding Academic Performance Award. His experiences have allowed him to work for several prominent law firms and corporations in New York, Ohio, Pennsylvania, and Florida. Before entering into private practice, Mr. Janeiro clerked for the Honorable James G. Carr, United States District Court, 6th Circuit, Northern District of Ohio.