Long Term Care and Nursing Home Planning
A good estate plan should also plan for nursing care expenses. One of the largest final expenses is nursing home care. Increasing costs of medical and long term care, longer life expectancy, and improvements in senior quality of life have created a critical need for planning. Often, individuals incur long term care or in home care expense by necessity, not choice. Families facing nursing care decisions often experience "sticker shock" and significant financial stress. Attorneys at Helsper, McCarty and Rasmussen can help you understand the basis of nursing home debts, as well as the options available to you. In addition, we help those who do not expect to need nursing care for ten years or more get their affairs in order to ensure a smooth transition that minimizes the stress and burden their families may endure.
How do I pay nursing home bills?
This is a question that you may be asking yourself. Perhaps your children or spouse is asking the same thing. Nursing home bills can generally be handled in one of five ways:
- Long Term Care insurance
- Private pay
- Medicaid (public assistance)
- Family members
- Default and/or bankruptcy
Each situation is unique, and without a good plan, the most likely outcome is that individuals entering nursing care will become a financial burden on immediate family. Our attorneys can help you minimize the risk that you will become a burden on your immediate family. The best Long Term Care plan is one that is made ten years before nursing care is needed.
It is never too late to seek legal advice about nursing home bills
Nursing homes generally have a medicaid coordinator who can answer some questions about long term care assistance. However, LTC coordinators are not allowed to give legal advice, and they may or may not have your best interests in mind. The best approach is often to have independent legal advice from an attorney who understands the long term care rules , as well as the rules regarding debt collection methods.