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Berks County Nursing Home Planning Attorney
Helping You Afford the Long-Term Care You Need
If you are concerned about losing your life’s savings or your home to the cost of long-term care, or if someone you love is facing a nursing home stay or is already in a nursing home, Dorko Wealth & Estate Planning can help.
Our firm can help you with the following nursing home financing matters:
- Identifying ways for your loved one to receive the care they need, whether it is in their home, a personal care home, or a nursing home
- Exploring your family’s payment options including Medicare coverage, long-term care insurance, Veteran’s benefits, private payment, and Medicaid
- Developing a plan to protect your family’s assets and qualify your loved one for Medicaid as quickly as possible without having to “spend-down” to $8,000
- Protecting most or all of the assets of a healthy spouse still living at home using planning tools such as a Medicaid Qualifying Annuity or commonly misunderstood community spouse protections
- Ensuring the home is protected from a Medicaid Estate Recovery claim
Planning for Sheltering Assets
Nursing homes now cost over $400 per day, or in excess of $146,000 per year. Medicare only pays nursing home costs in limited situations – even in those cases, only as many as 100 days are covered.
Medicaid – or Medical Assistance as it is called in Pennsylvania – does pay nursing home costs. However, Medicaid is a joint federal-state program for the financially needy. Therefore, there are certain maximum asset levels that the person must “spend-down” to before they will qualify for Medicaid.
Medicaid law is extremely complex and can have many pitfalls for those not familiar with it. There are also significant opportunities to legally protect assets from nursing home costs for those well-versed in the Medicaid law.
We have helped hundreds of families navigate this maze. Our team can explain the law and how it applies to your situation. We will present you with the options available to you or your family to legally shelter your hard-earned savings.
Successful Transfer of Ownership Business & Farm Ownership Transfer
Revised Property and Investment Plan for Trust Family Cottage Trust
Wealth Transferred to Children & Grandchildren Family Limited Partnership