Although you probably hope to spend your final years in the comfort of your own home, the reality is that the longer you live, the better your odds are of needing long-term care. To help you plan for that reality, the Indianapolis Medicaid planning attorneys at Frank & Kraft explain how you can prepare for the possibility that you will need long-term care. Evaluate your health. Although most people cannot predict the need for long-term care (LTC), evaluating the state of your health … [Read more...] about How to Prepare for the Possibility That You Will Need Long-Term Care
Although most of us prefer to envision living out our retirement years in our own home, the reality is that long-term care could be necessary at some point which makes planning for how you will pay for that care an important part of your estate plan. The Indianapolis Medicaid planning attorneys at Frank & Kraft discuss the advantages and disadvantages of purchasing long-term care insurance to cover the high cost of long-term care. Why Do I Need to Plan for Long-Term Care? The … [Read more...] about What You Need to Know about Long-Term Care Insurance and Medicaid Planning
October is designated as “Long-Term Care Planning Month” each year in the United States. For all of us, it provides an excellent reminder of the need to have a long-term care (LTC) plan in place as well as the perfect opportunity to review your plan if you do have one in place. Before the month of October comes to a close, make a point of looking over your LTC plan and making an appointment with your estate planning attorney to go over the plan and/or make any changes that need to be made. The … [Read more...] about Celebrate Long-Term Care Planning Month this October by Reviewing Your Plan
Over your lifetime, you will undoubtedly work toward amassing a sizeable enough estate to see you through your retirement years with enough left over to pass down to your loved ones when you are gone. Amassing assets, however, is only the first step. You must also protect the assets you acquire. One potential threat to your assets that you may never have considered is the cost of long-term care. To ensure that you plan accordingly, the Indianapolis asset protection attorneys at Frank & … [Read more...] about Protecting Your Assets Requires Planning for Long-Term Care
Approximately 70 percent of Americans over the age of 65 will need some level of long-term care services in their lifetime with 40 percent needing care in a nursing home. If you find yourself, or someone you love, in need of long-term care, it is important to also understand the rules and regulations that apply to LTC facilities. To get you started, a Carmel elder law attorney at Frank & Kraft explains long-term care transfer and eviction rules you need to know.. Your Federal and State … [Read more...] about Long-Term Care Facility Rules You Need to Know
Like most people, you undoubtedly hoped that you and your spouse could live out your retirement years in your own home without the need for long-term care. If, however, one of you reaches a point at which the type of care provided by a nursing home is necessary, you will also have to face the reality of the high cost of that care. One option may be to turn to Medicaid for help paying the bill; however, qualifying for Medicaid comes with its own set of obstacles and concerns. One of those … [Read more...] about What Assets Can a Spouse Keep on Medicaid?
Nursing home attorneys can work closely with you to help you create a plan in case you must go into a nursing home. It is important to be prepared for the possibility to avoid stress for your family, financial hardship and the possibility of ending up in a nursing home that will not provide the high quality care that you both need and deserve as a senior. Frank & Kraft can help you to craft a comprehensive and detailed nursing home plan that allows you to be … [Read more...] about Why Seniors Face Problems if They Don’t have a Nursing Home Plan
Carmel nursing home attorneys can help you to prepare for the possibility that you will some day need to move into a nursing home. Around 70 percent of people who are aged 65 or older will end up needing nursing home care during their lifetimes, according to Wall Street Journal so it makes a lot of sense to prepare in advance for what happens if you become one of the majority of seniors who needs care. By planning in advance, you spare your family from having to scramble to find … [Read more...] about How to Choose a Nursing Home That Provides High Quality Care
If you’re like most people, you probably haven’t given much thought to things like long-term care for yourself or your spouse. Chances are, you’re just too busy living to spend much time thinking about things that might or might not be important later on in life. If you’ve had a health scare or a recent injury, however, that dynamic may have changed. There are times in life when our own frailty and mortality can simply no longer be ignored. If you have started thinking about the possibility that … [Read more...] about Confused About How to Pay for Nursing Homes in Indianapolis?
Long-term care can seem like something that is only relevant to others, but in reality, everyone should take the matter seriously. We all get older, and you should prepare for the eventualities of aging so that you are not confronted with any unpleasant surprises as a senior citizen. Most people will qualify for Medicare coverage at the age of 65, but Medicare does not pay for long-term care. Since nursing home care can cost $100,000 or more per year, this is a very significant hole in the … [Read more...] about Medicaid and Long-Term Care: A Brief Primer