No one wants to end up in a nursing home; however, if you do, it is best to have planned ahead.
People who need nursing home care do not usually have a choice. Unfortunately, one of the big problems is that staying in a nursing home for any length of time is incredibly expensive, and it is also likely to get more expensive as the population ages.
The government will actually pay for some people's nursing home stays. However, before the government will provide assistance, a person needs to essentially have no assets or only have protected assets, according to the Brentwood Home Page in "Long-term planning for long-term care."
There are ways around this problem; however, planning needs to be done well in advance. For some people, purchasing an insurance policy will be an option but long-term care insurance is not always available. Other people will need to find more creative solutions. Another challenge is that proper planning needs to be done at least five years before a person enters a nursing home.
Figuring out how to plan for your long term care can be solved by visiting with an experienced elder law or estate planning attorney.
Reference: Brentwood Home Page (May 28, 2018) "Long-term planning for long-term care."
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