With no advanced planning in place, such costs are borne directly by the patient. And so the costs of 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 care scenario: Long-Term Care Insurance, and Medicaid Planning through Trusts.
Long-Term Care Insurance
Medicaid Planning and Trusts
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.