“It is a widely held false belief that asset liquidation is required when an elder goes into a nursing home, in order to pay for nursing home costs. There are definitely other options for seniors and their families and we are champions of those options.”
—Elder Law Attorney Philip C. Amaru
By planning ahead you have the greatest opportunity to protect your assets before nursing home care is needed. People who preplan are typically not currently in a nursing home, but are concerned that they may need nursing home care in the future.
Some elders would simply give their assets to their children. There are pitfalls to doing this. For example, you no longer control your assets; if you child is sued, your assets will be taken; if your child gets divorced, their spouse may be entitled to a share of those funds; or, if your child dies, your funds may not go to the individuals you want them to. Most important, transfers or gifts are subject to look back periods and penalties. If planning has not been done properly and if any of the gifted funds are spent or lost, and a loved one goes into a nursing home, there could be serious consequences based upon newly signed federal regulations. Proper planning is essential.
It’s never too early to plan. With a properly drawn pre-plan, we are able to protect 100 percent of your assets, including first and second homes and vacation properties, stocks, bonds, retirement plans, cash and more. Most importantly, you also retain control of all of your assets. Protecting your assets is complicated, but we help make is simple.
Just as every person’s situation is different, every plan is customized.
As specialists, we are very familiar with the constantly changing legislation.
No matter how old you are or the state of your health, we can help.
Everyone is different. You have different assets; your situation is different and your goals are different. During your consultation, we will your specific facts and circumstances to see what type of planning might be appropriate for you.
Contact us at 800-705-1415 for a Consultation
