Long-Term Care Planning

What It Is

One of the issues most of us will face as we get older is the possibility of a critical and/or debilitating disease that may limit our independence, ability to experience a high quality of life, and increase the risk that we will outlive a fixed income. This is where long-term care planning comes in. A long-term care plan encompasses all the resources available to an individual – whether it be a long-term care insurance policy, Medicare, Medical Assistance, or Veteran’s Administration benefits – in order to address covering the cost of care (which may include home care, assisted living, skilled nursing, or any other institution that provides the necessary level of medical care). For married couples, long-term care planning focuses not only on care needs of the ill spouse, but also helps protect the couple’s finances so the healthy spouse can live comfortably as he or she ages.

How It Works

Our attorneys will meet with you to get a solid understanding of your situation, including your age, health concerns, eligibility for various programs, insurance benefits and existing income streams. Because we understand the intricacies of programs such as Medicare, Medical Assistance, Veterans’ benefits, long-term care insurance policies and how they all work together, we can help you put a plan in place that maximizes your benefits while protecting your income. By planning for the worst-case scenario and having multiple options available to you, you can feel confident that you will receive adequate medical care when you need it.

How It Helps You

We all hope that we will not experience a long, painful illness as we age, but statistics indicate that a high percentage of the population will require long-term care for at least a period of time. Having a plan in place for such a possibility gives you the peace of mind and confidence that you will be taken care of in a manner that is consistent with your values and needs.

To learn more about long-term care planning, call us at (952) 925-4147 or send us a quick email. We welcome the opportunity to meet with you to discuss your specific situation.