LONG TERM CARE PLANNING
Long-Term Care Planning That Protects Your Assets and Your Dignity
What would happen if you—or a loved one—needed extended health care tomorrow?
The cost of at home care or if you need care in a facility can average between $12,000- $70,000 per year. Unfortunately, Medicare often doesn’t cover long-term care. Without a plan, families are forced to make rushed decisions and drain their savings just to pay for care.
Long-term care planning gives you peace of mind—knowing your health needs will be met without sacrificing your financial security or burdening your loved ones.
Why Long-Term Care Planning Matters
- Protects your savings, retirement, and your home from overwhelming medical cost
- Helps ensure you get quality care—on your terms
- Eases the burden on your family or caregivers
- Makes you eligible for government assistance (like Medicaid) without going broke
We help individuals and families develop a custom strategy that covers care costs while preserving as much of their estate as possible.
The True Cost of Long-Term Care: Why Planning Ahead Matters
As we age, the likelihood of needing long-term care increases—and so does the cost. Whether it’s in-home assistance or care in a facility, services can easily cost $5,000 to $7,000 per month, adding up to $70,000 to $100,000 or more per year.
Over several years, that can deplete even the most carefully planned retirement savings.
Unfortunately, Medicare typically doesn’t cover most long-term care expenses. Without a plan in place, families often find themselves making stressful, last-minute decisions—resorting to liquidating assets or dipping into retirement funds to cover care.
When applying for assistance to cover long-term care costs, you may be required to "spend down" your assets to qualify. Which can wipe out your retirement savings.
Planning now can make all the difference later. Let’s build a strategy that ensures your care needs are covered—without compromising your financial future.
Assets Included in a Long-Term Care Spenddown
Most states impose strict limits on the value of assets you can keep—often around $2,000 for a single person.
Here are common assets included in the spenddown calculation:
- Cash, savings, and checking accounts
- Stocks, bonds, and mutual funds
- Retirement accounts (e.g., 401(k)s, IRAs)
- Real estate other than your primary residence
- Second vehicles
- Certificates of deposit (CDs)
- Life insurance with cash value (over a certain amount)
- Annuities (depending on structure)
These assets must often be used to pay for care until you meet financial eligibility requirements. Without planning, this can lead to the forced liquidation of retirement savings or even the sale of family property.
What We Can Help You With
Without proper planning, you could be forced to sell your home or drain your life savings to qualify. We help you avoid that with smart, legal strategies tailored to your unique situation.
- Reviewing your current financial and care situation
- Exploring long-term care insurance options
- Explaining Medicaid eligibility and application process
- Creating a spend-down strategy that protects assets
- Coordinating with elder law attorneys and financial advisors (if needed)
You don’t have to figure this out alone—and you shouldn’t wait until it’s urgent.
Plan Ahead With Confidence
Whether you’re planning for yourself, a parent, or a spouse, starting now can make a huge difference in the future.
Your next step? Let’s talk.
We offer a no-obligation consultation to review your needs and give you clarity about your options.