The Need For Planning

You worked too hard for everything to go to a Nursing Home or the Government.

One of the greatest fears of older Americans is that they may end up in a nursing home. This means a great loss of personal autonomy, and a tremendous financial burden, perhaps losing a life savings. Depending on location and level of care, nursing homes cost between $120,000 and $175,000 a year. Most people end up paying for nursing home care out of their savings until they run out, and then they can qualify for Medicaid to pick up the cost. There is a perception that by paying privately you are more likely to gain entrance to a better quality facility. This is not necessarily the case.

Remember, no matter where you are in the process, even if an individual is in immediate need of care or receiving care, we can use creative, and yes legal, techniques to protect a good portion of the remaining assets.

Careful planning, whether in advance or in response to an unanticipated immediate need for care, can help protect your estate, whether for your spouse or for your children.