If you or a loved one suffer a physical or mental disability, then emotional distress, economic hardship and loss of control can become realities without proper planning. The right to control and protect your assets and preserve your dignity to the fullest extent possible is one of the major benefits of advance planning.
The prohibitive cost of long term care has intensified. You need to understand your current health insurance coverage. At this most difficult time in your life you will be forced to make decisions which involve your life savings and your assets, including your home. Long Term Care Insurance is available for purchase, but the choices and options can be overwhelming and expensive.
Medicaid can play an important role in the payment for long term care, but there are restrictive eligibility requirements. You need to understand the 36 month look-back period, the transfer of assets penalty and exceptions to the penalty, the community spouse’s income and resource allowances and the application process.
Our office works closely with Henry D. Gartner, an attorney who concentrates in the areas of wills and estates, and he can assist you in developing sound strategies to meet your financial, health and family needs.