Protect Your Home & Savings from Nursing Home Costs
Will you be among the 70% of Americans who become impoverished within one year of entering a nursing home?
Did you know 69% of Americans who will need long-term care for an average of 3 years?
Did you know that the average cost of a long term care in Louisiana is $5,536?
A lengthy nursing home stay can wipe out your life savings quickly.
But it doesn’t have to be that way if you plan today.
During your Free Medicaid Asset Protection Assessment we will go over your situation and I’ll show you how to best protect your assets and your family.
The process is easy. All you have to do is click the button on this page and fill out the questionnaire. Once I get it, I’ll review it and reach out by email to schedule a call with you to go over your results.
Myrna E. Arroyo, Baton Rouge Attorney
Whether for yourself or your aging parents, I can help you plan for the financial, medical, and legal challenges that come with growing older. I’ll help you develop a comprehensive plan to ensure your wishes and preferences are honored, along with protecting your home and life savings if your health fails as you get older.
Who Needs Long Term Care Planning?
Long-term care is growing more expensive every day. In fact, some studies estimate that nearly two-thirds of families will run out of money within the first year or two of moving into a nursing home. Unfortunately, most private health insurance plans and Medicare don’t cover long-term care costs—which can average $4,000 to $12,000+ per month in the U.S., depending on where you live and what level of care you require. In Louisiana, a nursing home costs an average of $5,232 per month.
Asset Protection Strategies
With proper planning, you can rest assured that you and your loved ones will have the proper safeguards in place to keep you at home as long as you desire, cover the expenses of your care and receive the maximum quality of care, when it’s needed. We can also help you qualify for Medicaid and other benefits to help cover these ongoing expenses. Using trusts and other asset-protection strategies, you and your loved ones may be able to take advantage of government benefits without “spending down” all of your assets or losing everything you own. Our elder law attorneys can help you create a comprehensive plan that allows you to live out your golden years without worry or financial hardship.
Additional Elder Law Issues
Elder law involves a number of issues that are intertwined with traditional estate planning. For example, it’s essential to have your durable power of attorney, will, living trusts, and advanced directives reviewed by your Family Business Lawyer®. There are special provisions that need to be present in these documents that—if not included—can create unnecessary obstacles for your estate planning attorney. We can provide the legal assistance you need to navigate this and other elder law issues, such as probate or interdiction.