Estate Planning Calculator
Minimum Monthly Needs Calculator
Medicaid calculates how much income the spouse of a nursing home resident - the "community" spouse – needs to survive. It is a standard formula, but can vary between the states. This calculation determines how much of the nursing home spouse’s income the community spouse may keep.
Patient Pay Amount Calculator
Generally, the nursing home resident must pay all of his or her income to the nursing home, minus a small personal needs allowance, an allowance for a spouse or a dependent child living at home, and any health care expenses, such as health insurance premiums. Use this calculator to estimate how much your Medicaid receiving nursing home resident would have to pay to the nursing home each month (call the Patient Pay Amount “PPA”). This calculation is merely an estimate as it varies from state-to-state.
Special Needs Calculator
The goal of completing this calculator exercise is to raise your awareness of the amount of money an individual with special needs might need if both parents are deceased. It is designed to help you plan for lifetime care AND quality of life so that you can determine how to fund a special needs trust, and provide you with some idea of how much you will need. Keep in mind that the goal is to ensure enough money will always be available without depleting principal.
The attorneys of Elder Law of Louisville (formerly Walsh & Wilson, PLLC) assist clients in Louisville, Kentucky and surrounding counties of Jefferson, Oldham, Shelby, Spencer, and Bullitt. Our Office also serves Southern Indiana and the towns of New Albany, Jeffersonville, and Clarksville.