My Spouse Just Entered a Nursing Home. How Can I Protect My Assets?
With appropriate planning, an estate can be protected. This includes a residence. A properly implemented plan may include retitling of assets, gifts, or the creation of a new trust. Many options exist.
With rare exceptions, Medicare does not pay for the cost of long-term care. At most, it will pay for only a portion of your stay. Long-term care insurance can be expensive, and it may be difficult to obtain. Medi-Cal is a government program that will help you pay the cost of a nursing home once you qualify.
Here is the bottom line: there are many planning options.
Note: This article provides information, it does not constitute legal advice.
Gilfix & La Poll Associates LLP attorneys practice elder law and estate planning and are available to answer any questions about Trusts, Durable Powers of Attorney for asset management, Advance Health Care Directives, and any other appropriate planning options.
Why Choose Gilfix & La Poll Associates LLP?
Unparalleled Experience, Knowledge & Strategies
-
Certified Specialists in Estate Planning & Elder Law
-
Co-Founder of the National Association of Elder Law Attorneys
-
Pioneers in Elder Law & Estate Planning
-
Hundreds of Millions of Clients' Dollars in Taxes Saved
-
Thousands of Families in the Community Served
-
Over 35 Years of Serving the Bay Area
Real People. Real Feedback.
Hear What Our Past Clients Have To Say
-
"Your letter to the Medi-Cal office did the trick. They are no longer threatening to put a lien on my house. I cannot thank you enough for helping me protect my home."
Your letter to the Medi-Cal office did the trick. They are no longer threatening to put a lien on my house. I cannot thank ...
D.S. -
"I now understand why the trust will save our family a fortune in tax!"
Thank you for the help in setting up the trust for our family. After my husband's death, I saw how tremendously valuable it ...
M.M.G. -
"When my husband passed away, my attorney at Gilfix & La Poll Associates LLP explained all the steps that have to be taken, saw to it that all steps were taken, and literally held my hand through the process."
When my husband passed away, my attorney at Gilfix & La Poll Associates LLP explained all the steps that have to be taken, ...
J.T. -
"I want to express my gratitude for your professionalism and your invaluable assistance during our recent meeting on behalf of my parents."
I want to express my gratitude for your professionalism and your invaluable assistance during our recent meeting on behalf of ...
J.J. -
"I heard of the Special Needs Trust before, but I never understood it until you so patiently and clearly explained it to me. We now have one in place for our son."
I heard of the Special Needs Trust before, but I never understood it until you so patiently and clearly explained it to me. ...
A.M. -
"Absolutely superb, respectful and very compassionate in the manner that you spoke to my parents about a very difficult situation."
I will never forget you. I have passed your name on to numerous friends with similar situations. You are absolutely superb, ...
K.S.M.
