As a result, the need for senior care, or simply eldercare, will continue to grow.
What Is Elder Care?
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
Medicaid Planning and Trusts
Here For Your Elder Care Legal Needs
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.