Our office seeks, first and foremost, to apply the law for the benefit of our clients. The goal is always to provide peace-of-mind solutions to the greatest extent legally possible, and with the highest possible moral and ethical standards. Why? To protect a lifetime of savings through hard work and to ensure that we are providing for those we love.
Americans are living longer due to advances in modern medicine and healthier lifestyles. With Americans living longer comes an increase in the likelihood that they will outlive their ability to care for themselves and end up in a nursing home or needing some other form of long term care. Without proper planning, the lack of available services and the staggering price of long term health care, financial ruin for many families is the reality as they face the prospect of outliving their money and assets.
A recent study revealed that 2 out of every 5 individuals reaching the age of 65 need long term care. In Michigan, the average cost of nursing home care is approximately $87,600.00 per year (and in Southeast Michigan, where our main office is located, the cost is closer to over $100,000 per year)!
For those wishing to remain living in the comforts of their own home, the cost is almost $200,000 for 24/7 at-home care. What many falsely believe is that health insurance and Medicare will cover the cost of long term care, whether at-home, in an assisted living facility, or in a nursing home. Medicare does NOT cover the cost of long term care ... it is a personal responsibility. There are only two government programs which may provide benefits for those seeking long term care - Medicaid and Veterans Benefits.
Contrary to popular belief, you do NOT have to spend down all or most of your assets in order to qualify for Medicaid or Veterans Benefits. Our Michigan estate planning team is here to help with these matters.
In fact, major changes in Elder Law often allow a qualified Medicaid & VA Accredited Attorney to preserve and protect an applicant's assets. Unfortunately, there is a significant amount of misinformation, which often leaves families losing a lifetime of savings to the costs of long term care.
VA Accredited Estate Planning & Elder Law Attorney Nicole Wipp at the Family & Aging Law Center specializes in the areas of Estate Planning & Elder Law, Medicaid assistance and Veterans Benefits planning.
She provides answers and unique solutions to families faced with the high cost of long term care, ensuring her clients protect everything they own and everything they love.
Contact our Michigan estate planning team by calling (248) 278-1511 today for a consultation to discuss your particular needs and concerns.
Or, submit your contact request here.