Nursing Home expense seems to weigh on the minds of many seniors as they age, however, proper planning can reduce and sometimes eliminate the expense of nursing care altogether.
Although many seniors fear "Medicaid taking my house” or "losing my money to the nursing home," these concerns can be eliminated by proper planning. In some cases, even in a crisis or emergency situation, there are planning techniques that will preserve much, if not all, of the family assets and protect the family savings from the cost of nursing home care.
Planning for a nursing home in Milwaukee stay involves a number of considerations:
- Can I protect my house from the nursing home?
- What is the difference between assisted living and personal care facilities?
- Will a Revocable Living Trust protect my assets from the nursing home?
- Can I still buy long-term care insurance?
- Can I qualify for Medicaid?
- How do I spend down my assets to qualify for Medicaid?
- What is an Irrevocable Trust?
- Do I qualify for Veteran Benefits?
- Can I use a caregiver agreement to transfer assets to my child?
- Which facilities should be considered?
- Will Medicaid pay for Assisted Living facility or Home Health Care?
- Can an Annuity help protect my assets from long-term care expenses?
- Will I incur a Medicaid penalty period if I transfer or gift assets to a child?
An elder care firm is invaluable to families facing these issues. For more information, contact Heritage Law Office at 414-253-8500 for help in Wisconsin, Minnesota, and California.