Everyone who is retired, or approaching retirement age, should have a plan for long term care. If nursing home care is required for you or a member of your family, how would you pay for it?
You have worked a lifetime to provide for yourself and for your family. Without a plan for care, your life savings could be used up within a few short years, if admission to a nursing home becomes unavoidable.
Our long term care planning coordinates all of the resources that are available in your unique situation. We work with you, your family members and your financial advisors to prepare strategies can include:
- Trusts that protect you home and other assets from being counted by Medicaid during your lifetime, and then transfer those assets to your children upon death, without the need for probate proceedings. Medicaid Trusts can be designed so that you have the use and income from these assets during your lifetime.
- Trusts that build a bridge over the 5 year ineligibility period imposed on asset transfers by the Medicaid long term care rules
- Annuities that provide benefits to your spouse or loved ones
- At home care resources, including services paid for by Veterans benefits and other sources
- Real estate deeds that protect the equity of your home or income producing property
- Long term care insurance that protects your home equity and provides flexibility for care at home
- Caregiver contracts that protect family relationships and preserve assets.
To get started, download our Long Term Care Planning Organizer in WORD or PDF. For help with planning, call us at 567-5600 for a long term care planning appointment.