Whether for you or for your aging parents, Long Advisory can help you and your loved ones plan for the financial, medical, and legal challenges that come with growing older.  We can create and implement a plan that allows you to protect and control your assets if you become incapacitated and require assisted living or nursing home care. 

 

Thanks to enhanced medical technology, life expectancies in the U.S. are at an all-time high.  But, consider the following statistics:

 

• Approximately 25% of men and one out of every two women, will require nursing home care at some point in lives

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• Nursing home care costs average $4,000 to $12,000 per month and up in the U.S., depending on where you live and what level of care you require.

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• Stroke is the leading cause of serious, long-term disability in the United States. Each year, approximately 795,000 people suffer a stroke.

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• 10 percent of adults age 65 and older has Alzheimer's disease. About one-third of people age 85 and older (32 percent) have Alzheimer's disease.  Many Alzheimer’s patients will eventually require long-term care.

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• In 2014, only 11 percent of Americans had long-term care insurance.

 

With the proper customized plan in place addressing the possibility of incapacity and the need for long-term care, you and your loved ones will 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. The plan we design and implement for you can help you qualify for Medicaid and protect your savings for the benefit of your spouse and other loved ones.

 

Whether through illness, injury, or mental decline, a person may require a guardian and/or a conservator to care for them if they become mentally or physically incapacitated. If the proper estate planning is not in place, a guardianship is established through the courts. Guardianship of an adult involves making decisions about the ward’s place of residence, physicians, medical treatment, and a host of other personal issues. Conservatorship involves decisions about the person’s income, legal actions, assets, insurance claims, and many other financial matters.

 

Contact Long Advisory today for elder law attorneys who can help you put the proper plan in place, or if a plan has not been put in place and a court process is necessary, allow Long Advisory to guide you through this often complex and emotional process.