Elder Law encompasses a wide range of practice areas, including long-term care planning, Medicaid planning, estate planning, asset protection, and more. We have extensive experience in all of these areas and are committed to helping seniors and their loved ones manage the changes that come with growing older. In particular, we help families cope with the high cost of long-term care.
Managing the cost of long-term care
Americans are living longer than ever before. This is good news, but there is a downside: the majority of us will require long-term care at some point in our lives and 20 percent of us will need long-term care for five years or more.
Long-term care is expensive. How expensive? Consider the following statistics:
- The median cost of nursing home care in the United States for a private room was more than $100,000 per year in 2018
- In certain situations, long-term care costs considerably more, and costs are expected to rise in the future
- Many families exhaust their life savings within two years of a family member entering a nursing home
Fortunately, there are options other than going broke to pay for the cost of long-term care. We can help you qualify for assistance from Medicaid and other sources to obtain the care you need while simultaneously preserving your life savings. We can help you plan in advance for the possibility of needing long-term care in the future. We can even protect your hard-earned assets if you are already in a nursing home or must move to one soon.
Long-term care planning / Medicaid planning
Long-term care planning, also known as Medicaid planning, is for people who are healthy now but want to ensure that if they become incapacitated they will be able to get the care they need without losing their life savings. We can design a plan that allows you to protect your assets and adequately manage your financial and personal affairs in the event of incapacity or disability. With such a plan in place, you ensure that you will be well cared for if you become incapacitated. You will likely enjoy greater peace of mind as well.
A Medicaid crisis
A Medicaid crisis is a situation wherein an individual resides in a nursing home—or must move to one very soon—and has been informed that he or she owns too many assets to qualify for assistance from Medicaid. As you might imagine, finding out that you will have to pay more than $100,000 a year for nursing home care creates a crisis situation for most families. If you have been given news like this, don’t panic. You must understand that information provided by friends, social workers, nursing home intake staff, and even Medicaid workers is quite often outdated or just plain wrong. The laws governing Medicaid eligibility are ever-changing and quite complicated. Few people understand them. We do.
We invite you to contact us at your earliest convenience to discuss your unique needs and goals.