How can I pay for nursing home care?
Nursing home care is getting more and more expensive. Some facilities are charging over $10,000 per month!! I would say that the average is around $9,000 per month right now. That can deplete you life savings very quickly. There are legal planning options available.
Protecting assets from the nursing home is a very complicated area of the law. Very few attorneys practice in this area. I have been protecting assets from nursing homes for 20 years. I have handled hundreds of cases.
Basically, what you are trying to achieve is to protect your assets and qualify for Medicaid. Medicaid is a State program that will pay for nursing home care IF you are under the income and asset limit. There is a 5 year look-back period in Michigan. This means that if you give ANY assets away within 5 years of applying for Medicaid, you will be penalized. The penalty is that Medicaid will not pay for the nursing home care for a period of time.
There are several ways to protect assets. Usually, for married couples, I can protect 100% of their assets. For single persons, I can protect at least 50% and sometimes much more. Every situation is different.
It is much to complicated to discuss here. I would suggest you come in and meet with me to see what can be done.
Please call our office to set up a consultation and see how we can help you.