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Financing of
Long-Term Care

Perhaps the biggest challenges faced by the Elderly is how mounting medical costs spike surprisingly with the onset of older age.   Typically, an Elderly person is living on a fixed income, now faces debilitating health problems, and is now scrambling to pay for a nursing home.

The problem is, most Seniors fail to plan for the extremely high costs of nursing home and long term care when devising their retirement plans.

The Alberto Brothers Law Firm helps our Senior clients to explore different long-term care options and financing solutions, including the spending down of assets to qualify for Government assistance from Medicaid.  Notably, Medicaid funding does assist in the financing of certain home-health care services, if the individual does not need full time care in a nursing home.

Other options include purchasing long-term care insurance or the creation of special trusts designed to assist you in paying for long-term care.

Furthermore, children of Elderly parents may also be very concerned because they may live far away or may not have the financial or time resources to personally care for their parents.

It has been our experience that families that have a high level of trust in one another are perfect for this type of planning, because the Elderly parents have a desire to pass on their hard earned money to their children, and the Elderly parents trust their children to look out for their best interests.

Planning for Medicaid eligibility, which is often called Medicaid Planning or Medicaid Spendown Plans, are an extremely complex, and do require the assistance of a knowledgeable attorney.