Is it Necessary to Wipe Out My Family’s Assets
to Pay for Nursing Home Expenses?
Moving a loved one into a nursing home is not an easy decision. We want to make sure our loved ones receive the best in medical care and are as comfortable as possible with the transition.
There are numerous factors to consider when a family member can no longer live alone because of medical tragedies such as Alzheimer’s, a stroke, a heart attack, or Parkinson’s disease. Not only will we consider the care facility’s services and environment, but the decision will also involve finances: What is affordable? How long will our savings last with all the economic turmoil? Can we consider qualifying them for government benefits?
This guide is provided as a starting point to familiarize you with the topic of planning for long-term care and various government benefits available and their qualification criteria.
The following information will explain how Medicaid works. This guide also includes an introduction to the Veteran’s Aid & Attendance Benefit—a benefit many veterans are unaware of that may help offset the costs of medical expenses.
Understanding government benefits is critical to anyone who has a family member in a nursing home or is concerned with the cost of long term care.
There are legal ways to avoid being impoverished by nursing home costs. In this stressful time, it’s important to make educated decisions. The information in this guide will answer many of the questions that arise when long-term care is needed.
These are the same questions which elder law attorneys and health care professionals deal with on a daily basis.
If You or Your Loved One Is in Need of Long-term Care,
I Recommend You Read This Guide Immediately.
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