Long-Term Care Planning
While most people don’t like to think about getting older, waiting to plan for elder care can limit your options when it comes to lifestyle, budget and wellbeing. Your need for long-term care could impact the financial viability of your spouse. Or you may wonder whether a parent’s assets will outlast their long-term care needs.
For the cost of just one or two months of nursing home care, a TuckerAllen attorney can provide peace of mind by helping you put in place a long-term care planning strategy based on your needs and wishes.
How Will You Pay for Your Long-Term or Nursing Home Care?
Start by asking yourself these questions:
- If needed, do you want in-home care or nursing home care?
- Can you afford in-home care?
- Can you afford the nursing home of your choosing?
- Is having a private room important to you?
- How can you save for future care?
- How can you qualify for government benefits such as Medicaid?
- How do you protect your assets for your surviving spouse and family?
The Earlier You Plan, the Better Your Options
Legally and emotionally, long-term care planning is a complex issue. Long-term care insurance can be expensive, and policies can be confusing. There are also strict laws associated with Medicaid qualification, including income limits and wealth transfer laws that could exclude you from benefits.
Working with a TuckerAllen elder law attorney experienced in nursing home planning enables you choose the right type of planning for your specific situation. In the maze of confusion, there is a solution.
Long-Term Care Planning Pricing
Long Term Care Planning Will Package
If you don’t have immediate concerns about long-term care, but want to preserve the ability for your family to do more advanced planning in the future, the Long-Term Care Planning Will Package may be right for you. This package includes: Last Will & Testament, Healthcare Directive (Living Will), Medical Power of Attorney, HIPAA Release, Long Term Care Planning Financial Power of Attorney, and Beneficiary Deed.
Long Term Care Planning Trust Package
If you are concerned about preservation of assets for your spouse or family in the event you need long-term care, and would like to help your loved ones avoid a lengthy probate process, you may wish to choose the Long Term Care Planning Trust Package. This plan offers the ability to ensure you can leave a legacy for your spouse or children without disqualifying them from receiving eligible public benefits. This package includes: Advanced Planning Revocable Trust, Pour-Over Will, Healthcare Directive (Living Will), Medical Power of Attorney, HIPAA Release, Long Term Care Planning Financial Power of Attorney, and Beneficiary Deed.
Medicaid Asset Protection Trust
A critical component of the MAPT Package is an irrevocable trust to begin the process of shielding your assets by starting the clock on Medicaid’s five-year look-back period. This package includes: Medicaid Asset Protection Trust, Last Will & Testament, Healthcare Directive (Living Will), Medical Power of Attorney, HIPAA Release, Long Term Care Planning Financial Power of Attorney, and Warranty Deed.
View our complete pricing list.
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