Planning to Protect Your Assets
Smart legal planning helps individuals or married couples who are currently healthy and want to put together a plan in case the real possibility that someday one or both will become incapacitated and require long-term care won’t deplete their savings or the assets they want to leave for their loved ones.
Although you’re healthy now, there is a real possibility that one or both of you will require assisted living or nursing home care. Recent studies suggest that over half of the population currently over 65 today will find themselves with that need…and that cost.
Unfortunately, skilled care like that is expensive. At current rates, nursing home costs are over $7,000 per month or more. One year of care can exceed $84,000, which will likely deplete your hard-earned savings…money that you probably need, and counted on, for the healthy spouse, or which, if properly protected, can be left to family and loved ones, rather than spent down in your care.
We can help by working with you to develop a comprehensive asset protection plan that contains the right structure in case you become disabled and are unable to make your own decisions. We can help you put a plan in place today that contemplates a long-term nursing home stay and gets you qualified for Medicaid as quickly as possible, while protecting as much of the assets as possible…legally.
In addition, the estate planning documents that non-elder care attorneys will draft tend to focus on after-death distributions and sophisticated tax planning, with little or no thought paid to how your affairs should be managed in case of disability. We work to help you create a holistic plan that details how you will be cared for during any periods of incapacity.
The most important thing in Pre-Crisis Planning is giving you peace of mind. We know the law, and we will work with you to learn about your family and your personal goals. Together, we develop a plan that will work when you need it. Our goal is to help you sleep soundly at night after you know that you have a plan in place that will protect your assets when the unthinkable happens.