Nursing Home Planning

For nearly 30 years, Dorko Wealth and Estate Planning has provided clients in Berks County and beyond with estate planning solutions. Reach out to our firm today to learn how we can help.

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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

Learn more by scheduling a phone consultation with us! Get in touch today by calling (610) 957-0018 or by contacting us online.

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.

Long-Term Care Insurance

The best strategy for sheltering your assets from nursing home costs begins with obtaining long-term care insurance. The costs of long-term care are not covered by health insurance and 50 percent of us will need expensive long-term care during our lifetime.

At Dorko Wealth & Estate Planning, we can provide long-term care insurance to those who qualify as part of your overall estate and financial plan.

We offer policies from the best-rated insurance companies, including:

  • Mutual of Omaha
  • Nationwide
  • Lincoln Financial

Our clients also hold policies with John Hancock, CNA, and MetLife. If you have an underwriting issue, we do the work to find the insurance company most favorable to your health situation.

Investments with Long-Term Care Provisions

Perhaps you want a money-back guarantee from your insurance company. Or, perhaps, you are not insurable but would like to do all you can to protect your savings from future nursing home costs.

Some other options available to you:

  • Universal Life Insurance with a Long-Term Care Benefit - We can steer you to a life insurance policy with a long-term care benefit as well as a money-back guarantee if you decide to change your mind in the future on this investment.
  • Annuities with Long-Term Care Benefits - We can match you with the appropriate annuity investment, which will provide you with extra income if you need nursing home care. If you never need care, this investment can continue to grow and can also be available to you and to your family after your passing.

Contact us today to schedule an appointment to discuss planning for long term care and asset shelter planning.

Hear from our clients

Reviews
  • I have been doing business with Mr. Dorko since 2005.

    “Great Service, very honest and very friendly.”

    - Sal A.
  • It is a pleasure working with you and your team.

    “Thank you Jeff for ensuring that all our estate plans are in order.”

    - Annarose I.
  • I was very pleased with his work.

    “I had to take care of my mother’s estate from halfway across the country, which I saw as a daunting effort. Because of Jeff’s compassion and professionalism, the entire process went smoothly from start to finish.”

    - Craig D.
  • The whole team was very helpful as we navigated an estate for a friend who passed away.

    “The whole team was very helpful as we navigated an estate for a friend who passed away. The process was made easier for us with everything they did.”

    - Paula M
  • ...went above and beyond answering questions and concerns.

    “Professional and helpful - went above and beyond answering questions and concerns.”

    - Caitlin R.
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success stories

Case Results
  • Wealth Transferred to Children & Grandchildren Family Limited Partnership
  • Successful Transfer of Ownership Business & Farm Ownership Transfer
  • Revised Property and Investment Plan for Trust Family Cottage Trust
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