Cherry Hill Long-Term Care Planning Lawyers
When the time comes that you need assistance with daily care, the cost may be as high as $10,000 a month. Is your family prepared?
At The Law Offices of Nancy M. Rice, we are committed to helping clients maintain a high degree of financial independence even when the time comes that they require long-term care. Planning for asset protection and the most effective use of private and public resources for daily and skilled nursing care is essential. Contact our Cherry Hill long-term care planning attorneys to discuss your situation.
New Jersey Estate Planning Attorneys - Cherry Hill and Linwood
If you are currently in good health, a fundamental part of your estate plan should be long-term health care insurance. Yes, it is expensive - but it insures against the biggest risk you face - poverty due to poor health. If you are fortunate you will never need benefits from the insurance policy. Meanwhile, you will know you have done all you can to protect your family.
Our elder law attorneys will also determine how to protect your assets so that you can enjoy the highest possible quality of life in the event you need assisted-living or nursing home care. We design, draft, and in some cases administer special needs trusts/supplementary care trusts. These trusts ensure that in the event you need to rely on Medicaid to help with your care, you will be able to purchase services and products that provide you with a higher level of dignity, independence, and comfort.
Sometimes, you or a family member may become uninsurable due to a diagnosis of dementia, a serious stroke or heart attack, a physical handicap, or another condition. If this happens, we will help you become eligible for Medicaid as quickly as possible without impoverishing your spouse. We will refer you to professional geriatric care managers who will help you find the best providers available.
At every milestone in your life you should revisit your basic estate plan, so that your durable general power of attorney, your Advance Medical Directive (living will), the terms of any trusts, and your will provide for the administration of your estate as you direct in the event you are unable to manage your own affairs.