By the time you reach 65, chances are 50-50 that you'll require paid long-term care. If you pay out of pocket, you'll spend $140,000 on average.* The Lowrey Law Firm can help you avoid decimating your assets.
Long Term Care Planning
Long term care is the unsolved problem for an entire generation. Long-Term Care Planning is focused on the prediction of and preparation for medical needs with advancing age. This comes in the forms of both assisting in attaining the client’s desired degree and comfort of care, but perhaps more pointedly: preparing for the costs of such medical care.
Will My Savings be Enough?
For many the immediate question that springs to mind is why they can’t simply rely on their savings, health insurance, retirement, and Social Security. The assumption is that with some basic preparation and existing government programs their future is planned for.
The problem with this line of thinking is that it fails to account for two things: the high out of pocket costs for the growing needs of the elderly and the difficulty of navigating the existing government programs that may well be able to assist.
Stay in my Home -Home Health Care Costs
A 2016 Genworth study cited in a Forbes article highlighted that “nearly a third of Americans (30%) believe home health care expenses are under $417 a month, but according to Genworth’s number-crunching, the national median rate is about nine times that ($3,753 per month). In short? The costs are often far higher than anticipated and, accordingly, merit advance planning to ensure for the care of you and your loved ones.
How the Lowrey Law Firm can Assist You
We help you anticipate the costs and prepare for your needs. Our knowledgeable, dedicated attorneys will work with you to develop a strategy moving forward to best prepare for your golden years. We will help you navigate the bureaucracy of government programs that may serve to benefit you as well such as Medicare and Medicaid. You may wish to visit the page on this web site "Family Asset Protection".
Prudent Planning now before you Need Long Term Care
The reality is that estate planning and preparation for long-term care are growing necessities for Americans. The Lowrey Law Firm is ready to serve our clients by planning for their golden years. If you are in need of assistance or help, we are ready to guide you through the process. We have put together a system and one that makes a tremendous difference in people’s lives. To learn more and to see if our Elder Law services are right for you, set an initial consultation. *Source AARP Bulletin Mar. 2018