Tailoring A Long-Term Care Plan According To Your Unique Needs
When the time comes that you need assistance with daily care, the cost may be as high as $12,000 a month. Is your family prepared?
At Rice & Quattrone, PC, 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. Our attorneys have the insight and compassion you need to help you create a realistic plan that addresses your unique concerns and financial goals.
Contact our Cherry Hill long-term care planning attorneys to discuss your situation.
Considerations To Keep In Mind
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 that you need assisted living or nursing home care. We design, draft and, in some cases, administer special needs trusts/supplemental benefits. These trusts ensure that in the event that 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 that you are unable to manage your own affairs.
Begin The Conversation Today
You do not need to face this overwhelming task alone. Our lawyers are ready to help you determine the correct approach for your situation. You can reach us online or over the phone at 609-398-3447 or 856-673-0048.
Our offices are conveniently located in Cherry Hill and Linwood. We provide skilled representation to clients in Pennsylvania and the greater Philadelphia metro area. Connect with us today.