Long-term care is an important part of life for many seniors. According to the U.S. Department of Health and Human Services, about 70% of people over age 65 will need some type of long-term care during their lives.  You may be worried about your parent or other loved one whom you had planned to take care of for the rest of their lives but find that their level of care far exceeds what you are able to provide.  Nursing homes costs in Florida can cost up to $13,000 per month and can be financially devastating to families who have not properly planned for the expense.  Many seniors are surprised to find out that Medicare will not cover the bulk of their long-term expenses.  It can be scary to think about losing your life savings to the cost of living in a skilled nursing facility.

We encourage you to plan ahead of time through strategic estate planning using Medicaid compliant tactics.  Pre-planning for Medicaid is the safest, most tax-efficient way to protect your assets long-term as Medicaid eligibility is dependent on the assets and income of each applicant and their spouse.   A Medicaid Planning attorney will be able to strategically move assets and income away from the estate and into Medicaid compliant trusts and other tools while preserving the assets you’ve worked so hard for in order to continue living comfortably in your elder years.

A comprehensive estate plan will cover all of your concerns beyond nursing home care and provide relief to your family when it comes times to make those hard decisions.   If you are ever in need of a skilled nursing facility, long-term care planning will help you avoid the cost of a Guardianship.  Those who fail to plan often run out of money while scrambling to apply for Medicaid once it is already needed.  Don’t wait!