Elder Law Solutions

            Today I’d like to introduce to you the concept of Elder Law and how you, a family member or a loved one can save your assets or your family’s nest egg from a rapid spend down from nursing home costs.  Elder Law solutions for our firm are about educating our clients and implementing strategies their assets, their loved one or spouse took a lifetime to build while allowing them to receive the care they need through assisted living or nursing home care.

 

We realize, when a family member whether a loved one or a parent or spouse enters a nursing home facility in Richmond to Williamsburg, Virginia, they’re facing a cost every month, $7,000 to $9,000.  Medicaid requires you to spend your money, your hard earned money first, before Medicaid covers that needed car.  But we’re able to through proper trust planning, through Medicaid trust planning, shield those assets and allow Medicaid to begin paying far sooner before you see the rapid depletion of those assets that took a lifetime to build.

           

            I go into this in greater detail in the report, which I encourage you to download, that book, will outline how your family can save thousands if not hundreds of thousands of dollars through proper trust planning to allow Medicaid to begin paying those bills that will rapidly accrue once you, a loved one, or family member enters a nursing facility.

 

            I look forward to working with you through these Elder Law solutions and I encourage you to read my book on how to protect your assets from nursing home costs and then let’s meet and design the right strategy.  The sooner we meet the more assets we can save.  Here’s the rule: if the loved one that is entering that assisted living facility was a veteran, we can start planning and then the very next day, after that plan is set up, potentially enter them into a facility fully covered by Medicaid.

 

            If, however, you were a civilian, and not in the active military, then we will need to use a civilian Medicaid trust plan and the sooner we do that the better. Let me explain: If your Medicaid trust plan 5 years or more in advance of entering the nursing home facility, I can protect 100% of their assets.  The sooner we get to entering that nursing home facility within 5 years, whether it’s 2 years and then entering that nursing home or 1 year, the fewer assets I can protect. So the sooner we get started the better, I look forward to outlining these issues and challenges and the opportunity to save your assets and your family’s nest egg from rapid depletion of nursing home costs.

 

(Notes)

 

Protecting your family’s assets from nursing home costs.

 

Before you place a loves one in a nursing home, we can ensure your family’s assets are protected from the rapid spend down for nursing home costs.  The cost, per month, of a nursing home or assisted living facility is $7-$9,000.  80% of all nursing home beds are funded by Medicaid.  Medicaid requires, first, that you spend down your assets, unless you craft a Medicaid asset protection trust.  The earlier we develop a plan, the better.

 

Ideally, we would prepare this trust 5 years in advance.  But if less than 5 years before a loved on must enter care, we can start to protect substantial amount of all your family’s assets.

 

Don’t Wait!  The earlier we meet, the more assets we can save from the outrageous cost of nursing home care.

H. Van Smith
Trusted Virginia Family Law Attorney Serving Richmond to Williamsburg