• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • Our Firm
    • About Our Firm
    • Attorney and Staff Profiles
  • Services
    • Asset & Business Planning
    • Dental Practice Law
    • Estate and Gift Tax Figures
    • Estate Planning Services
    • Family-Owned Businesses & Farms
    • Financial Planning Assistance
    • Incapacity Planning
    • IRA & Retirement Planning
    • Legacy Planning
    • LGBTQ Estate Planning
    • Medicaid and Elder Law
    • SECURE Act
    • Special Needs Planning
    • Trust Administration
  • Elder Law
    • Coping With Alzheimer’s
    • Emergency Medicaid & Nursing Home Planning
    • Guardianship & Conservatorship
    • Hospice Care
    • Medicaid Planning
    • Veteran’s Benefits
  • Resources
    • DocuBank
    • Elder Law
      • Elder Law & Medicaid Definitions
      • Elder Law Reports
      • Elder Law Resources
        • Carmel, Indiana Elder Resources
        • Fishers Indiana Elder Law Resources
        • Greenfield, Indiana Elder Law Resources
        • Greenwood Elder Resources
        • Indianapolis Elder Law Resources
        • Lawrence Elder Law Resources
        • Plainfield Elder Resources
        • Zionsville Elder Law Resources
    • Estate Planning
      • Estate Planning Checkup
      • Estate and Gift Tax Figures
      • Estate Planning Definitions
      • Estate Planning Reports
        • Advanced Estate Planning
        • Basic Estate Planning
        • Estate Planning for Niches
        • Trust Administration
      • Incapacity Planning Definitions
      • Is Your Estate Plan Outdated?
      • Top 10 Estate and Legacy Planning Techniques
    • Free Estate Planning Worksheet
    • Frequently Asked Questions
      • Asset Protection Planning
        • Business Succession Planning
      • Elder Abuse
      • Elder Law
        • Medicaid
        • Medicaid Planning
        • Planning for Long-Term Care
      • Estate Planning
        • Avoiding Estate Taxes
        • Estate Planning for Parents
        • Frequently Asked Questions for Families Without an Estate Plan
        • LGBTQ Estate Planning
        • Women and the Need for Estate Planning
      • Financial Planning
      • Incapacity Planning
      • Legacy Wealth Planning
      • Pet Planning
      • Philanthropy in Your Estate Plan
      • Probate
      • Power of Attorney
      • Small Estate Administration
      • Trusts
        • Trust Administration
        • Trust Administration
        • Serving as Executor
      • Understanding Your Social Security Retirement Benefits
      • Wills
        • Contesting a Will
    • Newsletter
    • Pre Consultation Form
    • Probate and Trust Administration
      • Bereavement Resources
      • How to Know if You Need Extra Help With Your Grieving
      • Loss Of A Loved One
      • Probate Resources
        • Carmel, Indiana Probate Resources
        • Greenfield Probate
        • Greenwood Probate
        • Indianapolis Probate
        • Plainfield Probate
        • Indiana Probate
        • Zionsville Probate
      • Things You Need To Do When a Loved One Passes Away With a Trust
      • The Mourner’s Bill of Rights
      • Things You Need To Do When a Loved One Passes Away With a Will
      • Trust Administration & Probate Definitions
  • Reviews
    • Our Reviews
    • Review Us
  • Areas We Serve
    • Boone County
      • Lebanon
      • Zionsville
    • Hamilton County
      • Carmel
      • Fishers
    • Hancock County
      • Greenfield
    • Hendricks County
      • Brownsburg
      • Plainfield
    • Johnson County
      • Franklin, Indiana
      • Greenwood
    • Marion County
      • Central Indiana
      • Indianapolis
  • Blog
  • Contact Us

Frank & Kraft, Attorneys at Law

Indianapolis Estate Planning Attorneys

CONNECT WITH US TODAY(317) 684-1100

Attend a Free Workshop
Home » Why is Nursing Home Planning So Important?

Why is Nursing Home Planning So Important?

July 4, 2017Elder Law, Uncategorized

Indianapolis Nursing Home Attorneys

Indianapolis nursing home attorneys can provide help with making a nursing home plan. Making a plan is important not only for people who believe that the need for nursing home care is imminent, but also for people who may some day need to get care in a nursing home environment. 

Frank & Kraft will work with individuals and families to determine both if a nursing home plan is needed and to determine what legal tools should be used in the creation of a plan. It is best to make your plans long before you actually need care, and there are many key reasons why making a plan is so vital. Some of the reasons for making a plan include the following.

There is a High Likelihood Care Will Be Needed

One of the biggest reasons why you should have a nursing home plan in place is because there is a significant chance that you will some day need nursing home care. The Wall Street Journal wrote that more than 70 percent of people who are 65 years of age or older will end up requiring nursing home care. A person who has turned 65 has a 40 percent chance of needing to spend time in a nursing home. That same 65-year-old has a 20 percent chance of needing to spend five years or more in a home environment.

Many people don’t make plans for the possibility of needing care, even though the chances are good that it will some day be required. The result of this is that seniors or their families end up scrambling to find a home with an open bed after a medical emergency makes it impossible for the senior to continue living independently. The immediate aftermath of a stroke, a fall, or another serious health incident is no time to be making important decisions on care.

Nursing Home Care is Expensive and Not Covered By Most Insurers

The costs of nursing home care are also a big reason why a plan should be made in advance in case such care is necessary. Nursing homes can cost more than $100,000 per year. This cost is not affordable to the vast majority of families.

Unfortunately, while many seniors assume that Medicare will pay for their nursing home, this is not likely to happen. Medicare covers brief durations of time spent in skilled nursing facilities to receive specialized care. It doesn’t cover custodial care at all, even though most people who go into a nursing home do so because they require custodial care.

Options for covering the costs of nursing home care are very limited if Medicare won’t pay. Long term care insurance is often prohibitively expensive and the coverage may not be comprehensive. Paying out of pocket or getting Medicaid to pay for care could be the only two viable options. Unfortunately, Medicaid will pay only after you’ve spent much of your wealth– unless you make plans in advance to protect your assets while still qualifying for Medicaid coverage. Making a nursing home plan allows you to protect your money and property and get Medicaid to cover you when you need care.

Nursing Home Abuse is a Very Real Risk

According to the National Council in Aging, one out of every 10 Americans aged 60 and older has been victimized by some kind of elder abuse. While most cases of abuse are not reported, it is clear a substantial number of nursing home residents are neglected or are abused physically, emotionally, financially or sexually.

Making a nursing home plan before you need care can allow you the time to research care facilities in your area so you can find a high quality home with a good reputation where there is less of a chance that you will become the victim of abuse.

Getting Help from Indianapolis Nursing Home Attorneys

Indianapolis nursing home attorneys at Frank & Kraft can provide the comprehensive assistance that you need in finding a nursing home that will provide high quality care. Our legal team will also assist you in taking steps to ensure you can afford to pay for care when you need it.

To find out more about the ways in which our legal team can help you, join us for a free seminar. You can also give us a call at 317-684-1100 or contact us online to get personalized advice from Indianapolis nursing home attorneys with experience. Give us a call today to get your plans in place before it is too late and you suffer a medical event that necessitates you go into a nursing home.

  • Author
  • Recent Posts
Paul A. Kraft, Estate Planning Attorney
Paul A. Kraft, Estate Planning Attorney
Paul Kraft is Co-Founder and the senior Principal of Frank & Kraft, one of the leading law firms in Indiana in the area of estate planning as well as business and tax planning.

Mr. Kraft assists clients primarily in the areas of estate planning and administration, Medicaid planning, federal and state taxation, real estate and corporate law, bringing the added perspective of an accounting background to his work.
Paul A. Kraft, Estate Planning Attorney
Latest posts by Paul A. Kraft, Estate Planning Attorney (see all)
  • Understanding the Annual Exclusion - January 31, 2023
  • Updated Federal Gift and Estate Tax Figures for 2023 - January 26, 2023
  • Why Estate Planning Is Important for Multi-National Couples - January 24, 2023

Other Articles You May Find Useful

caregiver
What You Need to Know If You Are a Caregiver
Alzheimer’s Awareness Month
November is Alzheimer’s Awareness Month
Indianapolis elder law attorneys
A Pre-Paid Funeral Plan Might Not Be a Wise Choice
Indianapolis elder law attorney
How to Find the Right Caregiver for a Parent
Indianapolis elder law attorneys
What You Need to Know about Elder Financial Exploitation
Indianapolis elder law attorneys
What Options Are Available for Elder Care?

Primary Sidebar

Frank & Kraft, Attorneys at Law

Download our free Estate Planning Worksheet

There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.

Follow Us

  • Facebook
  • Twitter
  • Linkdin
  • Youtube

Blog Subscription

Where We Are

Frank & Kraft Attorneys at Law
135 N. Pennsylvania Street Suite 1100
Indianapolis, IN 46204-2485
Phone: (317) 684-1100
Fax: (317) 684-6111

See Larger MapGet directions

Office Hours

Monday8:00 AM - 5:00 PM
Tuesday8:00 AM - 5:00 PM
Wednesday8:00 AM - 5:00 PM
Thursday8:00 AM - 5:00 PM
Friday8:00 AM - 5:00 PM

Map

frankkraft_sidbr_map

Footer

  • Advantages of Working With Our Firm
  • About The American Academy
  • Disclaimer
  • Privacy Policy
  • Sitemap
  • Contact Us

Connect with Us

  • Facebook
  • Twitter
  • Linkdin
  • Youtube
footer-logo

Frank & Kraft Attorneys at Law
Attorney Advertisement

© 2023 American Academy of Estate Planning Attorneys, Inc.

© 2023 · American Academy of Estate Planning Attorneys, Inc. | Disclaimer | Privacy Policy | Sitemap | Contact Us