Elder law is about helping clients plan in the event they need long-term care in a nursing home, assisted living facility, or in their own home. Many people want to remain home in their golden years. In order to increase the likelihood that remaining at home is feasible, it is important to consider Medicaid and long-term care planning options as early as possible.
The average cost of a nursing home is between $12,000 and $15,000 per month. Twenty-four hour care at home can cost the same amount. Very few people can afford to privately pay these costs for an extended period of time, and most people do not want to lose their life savings to the nursing home.
There are numerous planning options available as part of an elder law or Medicaid plan. The options most suitable to you depend on numerous factors – current health status, age, income, assets, and risk tolerance to name a few. Are you in good health at present? Are you interested in protecting your home or savings for your children and grandchildren? Do you need only a few hours of care a day or do you need continuous care? Do you have family members who live locally and are able to assist you?
If you are interested in learning more about your options, how to preserve your assets, and whether you may be eligible for Medicaid, please contact me for a consultation. I am available to meet with you during regular business hours or by appointment on weekends and evenings.