When you look into the subject you may be quite surprised to find out just how expensive it is to spend some time in a nursing home or assisted living community. Costs are rising year-by-year, so the current state of affairs is one thing but what you may be looking at in 20 or 30 years is another.
Presently a single year residing in a nursing home in the state of New York averages well in excess of $100,000.
There are those who take this with a grain of salt because they expect to be enrolled in the Medicare program when they attain senior citizen status. In truth, Medicare will not absorb these costs.
Where do you to turn if you are a senior citizen in need of long-term care who simply does not have hundreds of thousands of dollars to spare? The answer for many people is Medicaid.
If you plan ahead well in advance you may be able to qualify for Medicaid while positioning your financial resources in the optimal manner given the program’s requirements.
We have prepared an informational report for people here in the Long Island area who are interested in Medicaid planning. To obtain access to this valuable report click the link that follows and take a moment to complete the form that you see on the right of the page:
Most senior citizens are going to need long-term care eventually, so you would do well to read this report. If you have questions after reading the report please feel free to give us a call at (631) 265-0599 to set up a free consultation.
Mark S. Eghrari, Estate Planning Attorney
Latest posts by Mark S. Eghrari, Estate Planning Attorney (see all)
- Have You Considered a Living Trust? - March 12, 2019
- How Do You Qualify for Medicaid? - March 7, 2019
- Grantor Trusts Provide Flexibility and Ease - February 28, 2019
