Roughly 70% of all adults will need some form of long-term care in their lives, and that care can be expensive.
A Nursing home in Ohio can cost in excess of $100,000 per year Moreover, Medicare will not cover most of the costs associated with long-term care.
In order to protect your assets from the costs of long-term care, it is best that you engage in proactive planning while you are still healthy. There are number of strategies that we can use in order to accomplish your goals. These range from the use of long-term care policies to using irrevocable trusts. Every plan is unique and should be designed with you wants, need, and financial concerns in mind.
The one thing we strongly advise against is simply just giving your assets away in order to qualify. These “gifts” could have some very damaging consequences in the future. Therefore, it is important that you consult with a competent elder law attorney, so you can plan correctly for long-term care. Call Sean McCauley today and start protecting your assets from the high cost of nursing home.
Start protecting your assets from the high cost of nursing home