Everyone should discuss the future with an elder law attorney. There are certain contingencies that you may face during the latter stages of your life. You may not be aware of the facts, and negative consequences can result if you don’t act because of a lack of information.
Long-Term Care: Who Needs It?
We are all aware of the existence of nursing homes and assisted living communities. However, when you are younger and capable of handling all of your activities of daily living on your own, it can be hard to imagine residing in one of these facilities.
It is probably safe to suggest that most of the people that are in these facilities on this day felt the same way when they were younger.
The United States Department of Health and Human Services has a website that you may want to visit (LongTermCare.gov) that provides a lot of good information about long-term care. According to the site, some 70 percent of individuals who are reaching the age of 65 are going to need long-term care eventually.
Medicare will not pay for long-term care, and it is extremely expensive. In New York the average annual cost for nursing home care exceeds $100,000. The median charge for a year in a one-bedroom apartment in an assisted living community exceeds $47,000 in New York according to Genworth Financial.
Elder Law Attorneys Provide Solutions
If you want to prepare for long-term care costs, what do you do? The intelligent first step would be to discuss everything with a licensed elder law attorney.
Elder law attorneys focus on matters that are of interest to seniors. The matter of long-term care is typically at the top of the list.
If you consult with an elder law attorney, you can become apprised of your options. Some people purchase long-term care insurance. Others implement Medicaid planning strategies because Medicaid will pay for long-term care.
Identifying the Right Elder Law Attorney
One way to identify a good elder law attorney would be to ask for recommendations among people that you know. Word-of-mouth is often golden when it comes to finding reliable resources.
Now that we live in the age of the Internet you can search the web looking for an elder law attorney. When you do so you should look for professional affiliations.
Our firm is a member of the American Academy of Estate Planning Attorneys.
If you live in the greater Smithtown area, we would like to invite you to contact us to schedule a free consultation if you are looking for an elder law attorney. You could meet us in person, have your questions answered, and decide for yourself if we are the right firm for you.
Mark S. Eghrari, Estate Planning Attorney
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