Elder Law

According to the Centers For Disease Control and Prevention (CDC), Americans are living longer. Because of health care innovations and improvements in our country, the life expectancy for the U.S. population is 78.7 years. Additionally, the number of people who are 65 years or older is expected to double by the year 2060 from 46 million to 98 million.

As a result, the need for senior care, or simply eldercare, will continue to grow.

What Is Elder Care?

Eldercare is specialized care designed to meet the needs and requirements of senior citizens (age 65+) at various stages of life. Rather a broad term, elder care encompasses services such as assisted living, nursing homes, adult daycare, and home healthcare.

Such elder care is commonplace and costly!

Research shows that 4 million Americans provide unpaid care to aging loved ones. In New York, the cost of elder care can be exorbitant. The regional average nursing home facility rates begin at $12,000 a month.

Paying For Elder Care

With no advanced planning in place, elder care costs are borne directly by the patient. For many Americans, such care can wipe out a lifetime of savings in a short amount of time. A nursing home facility may even put a lien on a patient’s home for nonpayment.

In general, there are two options to prepare for a long-term elder care scenario:

  • Long-Term Care Insurance
  • Medicaid Planning and Trusts

Long-Term Care Insurance

Not all persons have the foresight, health, or disposable income to procure long-term care insurance. Further, individuals may not qualify for long-term care insurance because of age or medical conditions, and there may even be shortfalls for those already with coverage.

Medicaid Planning and Trusts

Through specialized planning by way of living trusts, individuals can qualify for Medicaid, a joint federal and state program that assists low-income individuals with nursing home costs. There is a myriad of timeframes and guidelines to establish such eligibility. If your facts and circumstances suggest this is a prudent strategy for you, start the process as early as possible if there is a familial history of longevity coupled with the need for nursing home care.

Here For Your Elder Care Legal Needs

Life can be unpredictable, so it’s never too early to begin the discussions about eldercare either for you or a loved one. I understand the emotion and complexities that may arise when navigating elder care law. My firm can help you and your family explore options and how to plan for the future.

My firm is here for all your elder care legal needs. Whether it’s creating the appropriate living trust for Medicaid, a Will, power of attorney or healthcare proxy, my firm can provide you with the expertise and guidance to ensure that you or your loved ones are protected.

Here are a few elder care areas my firm specializes in:

  • Drafting the appropriate estate planning documents (living trust, Will, power of attorney, healthcare proxy, living will, etc.) for elder care
  • Administration and management of estates and trusts
  • Estate planning, probate, trusts, wills and other estate planning documents

Contact me to discuss your elder care needs and how we can make the process much easier to navigate.

Conte Legal is one of the areas leading estate planning and elder law firms. With locations in both Westchester County and New York, we are accessible and connected to the community.