Long term care planning can help to protect you and your family. As we age, the possibility of needing long term care becomes more likely. While this is a lifestyle change for which no one wishes, dealing with the logistical details of you or your spouse moving into a nursing home involves much more than just leaving your home. There are also many financial elements that are of great concern.
Staying at a nursing home comes with a huge financial impact. In Pennsylvania, the average cost of living at a long term care facility is approximately $9,000 to $10,000 per month. For many families, this figure is incredibly daunting. There can be fear that your estate will be adversely affected by paying for such care or that your assets are insufficient to pay for such care.
This is where having proper representation is crucial. At Sikov and Love, P.A., our talented attorneys have been dealing with elder law matters for more than 25 years and have a solid foundation of experience with such situations. Our team can work with you to develop a plan of action to help protect your assets and your estate while helping you get the care that you need. Through irrevocable trusts, long term care insurance, immediate annuities, gifting, and other methods, our firm can help to protect you and your family if long term care is needed in the future or in a crisis.
You may find it beneficial to speak with a law firm familiar with elder law and long term care issues to discuss your options and help to determine what types of planning you and your family may need. For more information, please visit our long term care planning page.