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., we help people navigate through this complicated area of law to protect their assets.
There are certain legal strategies that can help families protect their hard earned estate. Your attorney should be knowledgeable across all planning disciplines to create a robust asset protection plan that’s specifically to your situation.
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 by clicking below and schedule a free 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 over 20 years of experience helping people with:
Medicaid Planning: Having too many assets now does not prohibit you from qualifying for Medicaid in the future. We can help you avoid the spend-down method through comprehensive planning.
Veterans’ Aid and Attendance Benefits Planning: Many veterans of the U.S. military are eligible for Long-Term Care Benefits but do not know it. We know the laws and can help you meet the necessary requirements to obtain the financial assistance you deserve.
“Great experience: I would highly recommend Barry and his firm to anyone. Its comforting to know that my family affairs are being handled properly and professionally.”
To discuss your Elder Law matter in a no-cost initial consultation, please call us today or contact us online.