Elder Law Services
There is a very high probability that you or your spouse will need skilled nursing care on a long term basis. The average stay in a nursing home is now about 22 months and the average cost of nursing home care is more than $5,000 per month.
You and your family members are encouraged to have a consultation with us to discuss long-term care planning. Through the years we have assisted a number of our clients in preserving hard earned family resources for their children and grandchildren. We can assist you in determining what benefits may be available to you and your family members through medicare, personal care contracts, longterm are insurance, veterans benefits, medicaid and asset protection trusts.
Asset protection trusts have the following advantages:
- Preserves net income from the trust for life;
- Preserves the capital gain exclusion on sale of your home and date of death step-up in cost basis;
- Starts the “five year clock” for purposes of qualifying for medicaid benefits;
- Avoids the cost, delay and publicity of probate;
- Protects you and your family from claims of creditors; and
- Provides for centralized management of family resources.