The costs of long-term care today are astronomical. One recent study found that, on average, one year in a nursing home costs more than $100,000. Even after years of disciplined saving, nursing home bills or in-home care costs can quickly diminish the assets you worked so hard to build up. There may be a better option.
In fact, through the use of appropriate Trusts and other Estate Planning tools, you may be able to keep your nest egg while still qualifying for important government assistance, such as Medicaid and Veterans’ Benefits. At The Siegel Law Group, P.A., in Boca Raton and with offices throughout South Florida, we help people navigate through this complicated area of law to protect their health care and their assets.
Elder Law attorney Barry D. Siegel watched a family member suffer because she was unaware of the tools available for Long-Term Care Planning. Today, he strives to ensure each of his clients is financially prepared for the road ahead. Call us at 561-955-8515 or 855-FLA-ESTATE for a complimentary consultation.
A major part of long-term care planning is qualifying for government benefits. Even if you live modestly, however, qualifying can be difficult because the sum of your assets must fall at or below a certain — often very low — threshold.
Failing to plan for long-term care causes many people to spend down their assets until they meet the requirements for government benefits. However, through advanced planning under the guidance of an experienced attorney, it may be possible to reorganize your assets in a way that helps you meet the criteria to qualify for benefits. Lawyer Barry D. Siegel has almost 20 years of experience helping people with: