We have seen it all too many times: Without proper planning, substantial savings can be rapidly depleted in old age. Long-term care and serious illness present very real threats to the wealth you earned and hope to preserve.
The cost of a good nursing home in Pennsylvania can reach $10,000 per month or more – costs not usually covered by Medicare. Most people lack long-term care insurance and, while valuable, this insurance covers only a portion of the real costs. Pennsylvania Medicaid is another helpful tool, but not everyone will qualify, and those who do face a complicated process.
Even in the absence of long-term care, a serious illness can drain your assets, no matter your insurance. Add it all up, and you can see that the more you have, the more you have to lose.
Fortunately, asset protection is possible with the right combination of planning and action. From insuring in advance, to qualifying for public assistance, to protecting your loved ones’ inheritance, we are experts in managing cost and risk so that you can enjoy your later years with peace of mind.
Remember, it is never too early, or too late, to protect your assets. Advance planning when possible is the best course of action. But even in cases where clients have already entered a nursing home, we still have asset protection tools and strategies at our disposal. Do not hesitate to call us no matter your situation or stage of planning. We are here to help.