What is long-term care planning?
Long-term care planning is the process of planning for how to pay for future care (should you require it) while protecting your assets. As we age, common questions arise regarding our futures:
- How am I going to pay for my retirement?
- What if I am unable to take care of myself or my finances?
- Will the expense of skilled nursing care leave me with no savings?
While these questions may seem daunting and difficult to face, planning for all future possibilities will protect yourself and your assets. Because long-term care is very expensive (to put it mildly), the assistance of an experienced elder law attorney is essential to helping you plan for the future.
What are some planning options?
Long-Term Care Insurance. Obtaining this insurance is one option in planning to cover the cost of long-term care.
Medi-Cal Program. Protecting your assets while achieving Medi-Cal eligibility is a complicated process. While there are asset and income limits that determine eligibility, an individual need not be completely destitute to qualify. Instead, changes can be made that will protect some of your assets while allowing you to receive coverage from the program for the cost of long-term care.
Why do I need an attorney?
The eligibility requirements for government care programs are nothing short of complicated. These programs have income and asset requirements for individual coverage that affect the scope of coverage, rules regarding trusts, eligibility for non-citizens, and the recovery policies of the State of California.
We have nearly two decades of experience in advising clients on eligibility for government programs. Let us show you how we can help.
We understand that the planning process can be overwhelming both emotionally and financially. When a loved one may be facing long term care needs, we are able to explain viable options, such as skilled nursing or in-home care. Our experience can ease the stressful nature of long-term care planning and provide you with the comfort of knowing you are protected.