You Don’t Have to Go Broke Paying for Nursing Home Care!
Maybe your health is declining or you’ve had a recent “close call” or you’re healthy but are concerned about your family’s history with Alzheimer’s or other illnesses or you’ve seen others have their assets wiped out paying for assisted living or nursing home care And you’re worried about who will care for you and how you’ll pay for that care in your later years.
Click here to learn about the 5 options available for paying for long-term care.
Planning Early is Vital
– You May Qualify for Medicaid to Pay Your Nursing Home Bills, Which Can Save You Thousands of Dollars Each Month!
Due to the limitations of the options available to pay for care, Medicaid is the most popular option for most Americans. The need for nursing home care does not have to catch you off guard. Planning early is vital, if possible you should begin planning at least five years before you need to enter a nursing home. When you plan far in advance, you can work within Medicaid guidelines to create a plan that protects the majority or all of your assets from long-term care expenses.
Benefits of Medicaid Pre-Planning
- Protects Your Family Home – Prevents the Government from taking possession of your home when you die as a result of “State Medicaid Recovery.”
- 5-Year Look-Back Penalty – Minimizes your risk of facing this penalty and being disqualified from receiving benefits, forcing you to spend your nest egg and your kids’ inheritance to pay for care.
- No Gifting Penalty – When you give your assets away to a loved one directly, you may face potential gift tax issues. However there are strategic methods of transferring your assets so they are completely gift tax free!
Our experienced attorneys can help you understand the choices available to you and prepare for the future with a clear plan for how to pay for a nursing home without going broke or losing the family home. Click here to schedule your personal consultation or call us at 212-973-0100.