Long-term care in a nursing home is expensive.  Many nursing homes charge $120,000 to $150,000 a year for services and the costs of in-home care services can easily exceed the cost of a nursing home.  The costs of long-term care is something that should not be ignored. There are multiple strategies for dealing with long-term care costs, including purchasing long-term care insurance, gifting assets, transferring some assets to a Medicaid Asset Protection Trust, creating a revocable living trust, or just doing a ladybird deed.  Working with an Elder Law Attorney can help you pick the best strategy to achieve your goals for the type of care setting you want to be in and to help preserve assets.

For married couples where one spouse will almost certainly need long-term care if the well-spouse were to pass away first, we can help you establish a plan that will allow you to preserve assets and have those assets managed for the benefit of the spouse that needs long-term care, all while still allowing that spouse to qualify for long-term care.