The statistics speak volumes: almost one in two women and one in four men find themselves in nursing homes at some point in their lives; the average cost for a private room in a nursing home exceeds $71,000 a year in Mississippi; Medicare will not pay for a lengthy nursing home stay; and, worst of all, two out of three families run out of money within the first year of a prolonged nursing home stay.
So are you destined to go broke if you or a loved one requires nursing home care? Not necessarily. At Courtney Elder Law Associates, we can put a number of powerful legal tools to work on your behalf to prepare in advance for a nursing home stay, or help you qualify for assistance from Medicaid, Veterans Benefits and other sources.
Pre-planning, also known as non-crisis Medicaid planning, is for people who are currently healthy but want to ensure that if they do become incapacitated, they will be prepared and able to protect their life savings. We can design an estate plan that allows you to preserve your assets and manage your personal and financial affairs in the event of incapacity or disability. Promissory notes, life estates, annuities, irrevocable trusts… we can put these and other powerful tools to work on your behalf to protect your assets, help ensure that you will be well cared for if you become incapacitated, and enjoy the peace of mind that comes from having a plan in place for the future.