Aging is no Joke

Aging brings loads of problems. For ourselves and for our children. One of these problems is the high cost of long-term care. Nursing homes in our area are approaching, if they are not already there, $10,000.00 a month. That’s $120,000.00 a year. How long could your savings hold out? Would you lose your home? What would become of your wife or husband?

When you retire, Social Security and Medicare are there to help. But if you are “lucky” and live long enough to become frail and sick and in need of long-term care, then there is no government program that automatically steps in. Over the last thirty years, the government has tinkered with Medicaid, making it the default long-term care insurance of middle class Americans. But there are barriers. Like the Medicaid spend-down. Like the 5 year look-back period. Like penalties for making gifts. If you are not aware of how this system works, you should be. Qualifying for Medicaid for long-term care may be the only thing standing between your wife or husband living in poverty if you need nursing home care.

But Medicaid for long-term care may be going away. Congress and the White House are struggling to find ways to cut benefit programs. Medicaid for long-term care, the long-term care insurance for the middle class, is on the chopping block. If it goes away, your wife, your husband, your family will be out of luck if you need nursing home care and run out of money.

Does this mean that there is nothing you can do? No it does not!

By planning early – and by early I mean before you need long-term care (because by that time it will be too late) – you can protect yourself and your family. Our PROTECT YOURSELF seminar will show you how.

Learn the 7 SECRETS to preparing yourself for an uncertain future:

• An “enhanced” power of attorney.
• A trust to protect your home.
• A trust or trusts to protect your other assets.
• The right kind of will or living trust.
• A medical directive and living will.
• Proper beneficiary designations for insurance policies, annuities, and retirement plans.
• Long-term care insurance with a five year term, if appropriate and
  affordable.

Planning ahead is important because the high cost of long-term care is often more than the average person can pay from income or other resources. By planning ahead, you can preserve the quality of life of your wife or husband. You can leave an inheritance for your children. You can lessen the emotional stress and financial burden on your family.

Who will most benefit from attending the PROTECT YOURSELF seminar:

• Husbands and wives who want to protect each other in case one of them goes into a nursing home.
• Unmarried individuals who want to leave a legacy for their family.
• Parents of a disabled child who want to make sure that child is taken care of when they are gone (Tip: Do not disinherit a disabled child!).

Planning ahead for long-term care often gets put off. It is human nature not to worry about something until it happens. Most people only deal with long-term care when either they or a loved one needs it. By then, options are limited by lack of information, by an urgent need for the care, and by not having enough money to pay for it. Planning gives you control over your future.

How many times have you said to yourself, “I know I should plan for my old age but I don’t want to think about it right now.”

It’s time to think about it.

It’s time to learn how you can:

• Receive nursing home benefits from the government without losing your life savings and your home no matter what changes in the law come down the road.
• Protect your spouse.
• Protect your home.
• How to properly gift money or property to your children.
• How a living trust alone is not good planning for long-term care.
• Protect you and your spouse from a Medicaid spend-down.
• Tap into long-term care benefits for war-time veterans.

An important note: By protecting your assets you are insuring greater independence and options if you need long-term care.
If you are out of money, you are out of options. Preserving resources allows you to stay at home as long as possible. If needed, you will be able to go to the assisted living facility or nursing home of your choice.

Why must you attend the PROTECT YOURSELF seminar? Because the information we will give you is practically secret. It is information the government really doesn’t want you to know about.

Try this test. Google “long-term care planning.” Most hits will be websites selling long-term care insurance. The others will be sites of government or private agencies that will give you some good general information on long-term care, including how to pay for it. You’ll find that your financial options are limited to your savings, long-term care insurance, and a reverse mortgage. What you won’t find are any sites that tell you how to use federal and state laws and programs in order to protect your assets and still get the long-term care you need when you need it. The typical reference to Medicaid goes something like this: “Medicaid pays for some long-term care services, but only if you qualify for the program because you have limited income and financial resources.” This comes from the website for the U.S. Department of Health and Human Services. Compare this situation with the IRS not going out of its way to tell you about tax deductions you may be able to take advantage of. That is what your accountant is for. We have the knowledge you won’t find on the internet.

All of the planning strategies that we use to protect you are legal. They are also time-tested. We have been practicing eldercare law exclusively for sixteen years. We know what does and does not work.

Give us an hour of your time. We are making this information available in as easy a way as possible. We are nearby in Havertown. We have plenty of free parking. We will limit the seminar to one hour. In order to do this, we will not take questions during the seminar, but we will spend as much time as it takes to answer questions afterwards. There will even be snacks and door prizes. We hope you will be entertained as well as informed.

Don’t let the government force you to go broke. Learn how to protect yourself, your spouse, and your family. Avoid the most expensive mistake of your life – failing to plan for your future. Lack of knowledge is your enemy.

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