Who Will Pay for the Nursing Home?
Call our Estate Planning Lawyer today. we will help you manage this problem. Serving Dutchess, Westchester, and Putnam Counties.
The average annual cost of cost of a nursing home ($166,872.00) can devastate a family. Planning for who will pay for a nursing home can easily be the single most important financial decision a person or family might ever make.
If you or a relative requires nursing home care who will pay for it? The average fee in the Westchester, Putnam, Dutchess (Northern Metropolitan Region) area is $166,872.00 per year. This is an expense that needs to be paid. The question is, who is responsible for paying this fee?
Options for Payment
$166,872.00 is the average annual expense of a nursing home in the Westchester, Putnam, and Dutchess area.
Options to pay include:
- The patient can pay out of his or her own funds;
- The patient’s family can pay; or
- If the patient qualifies, Medicaid will pay for the nursing home.
I want to obtain nursing home care, if necessary and preserve my family’s assets. I need to be eligible for Medicaid so that family’s assets are preserved. I need an Estate Plan.
To discuss the specifics of your case with our Dutchess County Estate Planning Attorney, schedule your free initial consultation today.
Understanding the role of Medicaid
Medicaid is a government program that, under the right circumstances, pays for a patient’s nursing home costs. Typically, a person must have less than $15,000.00 in assets to qualify for Medicaid assistance. Medicaid will review an applicant’s financials for the previous five years to determine if they are eligible.
If not eligible, the costs of long-term care (Alzheimer’s disease or paralysis caused by stroke, etc.), results in a great expense to the patient’s family. This can eventually devastate a family’s hard-earned assets.
To be most effective, an Estate Plan needs to be in place five years before a Medicaid application is completed.
What Our Clients Are Saying
At Martin Law PC, your satisfaction is our priority! See for yourself what our clients have to say about working with us.
-
I have used the Martin Law Firm for over 20 years. The service has been excellent handling real estate transactions, lawsuits and Estate Planning.- Fred Cantor
-
“strongly recommend him to anyone who is in need of legal counsel”- Sharon and George Gillen
-
My husband and I have used Martin Law on several occasions and have always been very pleased. In addition to receiving excellent advice, Michael and his staff are extremely professional and thorough. I would not hesitate to recommend Michael Martin (and have).- Risa Getman
-
“Martin Law makes their clients a priority and is there when you need him. They always provided sound legal advise. I am very grateful for all their help over the years.”- Christine Murray
-
“It was the best decision I ever made. Each time I had a question about something, they were there with the answers.”- Robert Beahan