Nursing home care costs in the U.S. averaged approximately $74,000 per year according to a 2005 Met Life study. Just like other health care costs, the cost of nursing home care continues to rise at an alarming rate, with projected annual costs in 2010 reaching over $123,000. Faced with the prospect of enormous nursing home bills, some retirees and their families do not take advantage of high quality skilled nursing home care because they believe they cannot afford it, or that their family's life savings will be exhausted paying for such care.
The truth is that with proper legal advice an asset protection plan, nursing home care is available to almost everyone without spending the family's life savings. This means that you or a loved one can enjoy the best skilled nursing care available and still keep most, if not all, of your family's life savings for the family.
A one-hour meeting with one of the attorneys at Mosteller & Holmberg, P.C. will put you well on your way to making the proper provisions for protecting your family's assets. You will discover that most, if not all, of a person's assets are potentially at risk - even joint bank accounts and life insurance policies.
During your consultation, we will help you identify the value of the assets at risk. With this knowledge, our firm will craft the best possible asset protection plan for your family's needs.
This asset protection plan will maximize the assets that can be sheltered, and minimize what must be spent on nursing home care.
If a loved one is already in the hospital or nursing home and it appears they will not be able to return home, then you probably have numerous questions about what will happen to their assets. Due to new more stringent laws that govern the payment of nursing home care, immediate action is required in order to identify any potential problems.
Call us today at 1-800-798-0997 to speak with one our attorneys.
