Long Term Care Lawyer in Oxnard, CA Preparing You for the Future
No one knows what the future holds, but planning for it as best you can is always a wise idea. This is especially true when it comes to long-term care. If you don't have a plan in place, you could find yourself struggling financially and emotionally in the event that you or a loved one needs long-term care.
That's where a long-term care lawyer comes in. I can help you plan for the future and make sure you're prepared for whatever may come. I can advise you on the best way to pay for long-term care, as well as how to protect your assets. I can also help you set up a power of attorney or living will, so that your wishes are carried out in the event that you're not able to make them yourself.
Preparing for the future is never easy, but with the help of a long-term care lawyer, it can be a little bit easier. Contact the Law Office of Eric Ridley today to get started. Call the Law Offices of Eric Ridley today at (805) 244-5291 for a free initial strategy session and get the help you deserve.
What Does a Long-Term Care Plan Consist Of?
There are many things to consider when thinking about long-term care planning. It's important to have a plan in place so that you can be prepared for anything that might come up.
A long-term care plan should consist of three main components:
- Financial planning: This includes saving for retirement
- Health care planning: This includes making sure you have the proper coverage in place in case you need it. It also includes staying healthy and keeping up with your health so that you don't need to use long-term care services.
- Housing options: This includes considering where you want to live as you age and what kind of housing options are available to you. It also includes considering how you will pay for your housing.
You should start thinking about your long-term care plan as early as possible. This way, you'll have plenty of time to consider all of your options and make the best choices for your future.
Nursing homes and assisted living facilities can be very expensive but there are ways to make your long-term care dollars stretch. There are three primary methods of paying for nursing homes or assisted living facilities:
- Private-paying with one’s own dollars;
- Using insurance that covers some or all of the cost of long-term care and
- Need-Based Government Benefits, i.e. VA Benefits and the Medicaid program.
Private paying for care often means total indigence. The cost of nursing homes can range from about $4,000 to $12,000 per month. Assisted living facilities are about half the cost of nursing homes but still too much for many to pay without outliving their savings. Many people spend all of their savings in nursing homes and then have nothing left. This is not a very good option!
Long-term care insurance works for some but most people considering nursing home care do not have long-term care insurance and either cannot qualify for the policies or cannot afford the premiums. Long-term care insurance is therefore often not an option.
Need-Based Government Benefits – This leaves Veteran’s Benefits and the Medicaid program. In certain states, Medicaid pays for almost all nursing homes including the finest of facilities (you sometimes need to know the tricks to get in!), and Medicaid increasingly covers assisted living facilities as well. But in order to qualify for Medicaid, applicants must be below $2,000 in savings and below $2,163 in income.
Long-term care planning comes into play here. Elder law attorneys can help people ethically and legally convert “countable savings” to “non-countable” savings so that Elder Law clients can keep their savings and still qualify for Medicaid. This is done not out of greed but of necessity so that the Elder Law client is not left indigent at the cost of long-term care.
Is There Anything I Should Know Before Developing a Long-Term Care Plan?
There are a few things to keep in mind before you develop your long-term care plan. First, think about what kind of care you will need and for how long. Will you need help with activities of daily living such as bathing, dressing, and eating? Or do you have a chronic condition that requires skilled nursing care? The type of care you need will determine what kind of long-term care facility is right for you.
Second, consider your financial situation. Long-term care can be expensive, so it’s important to have a clear idea of how you will pay for it. If you have health insurance, check to see if it covers any long-term care expenses. You may also be able to use Medicaid or other programs if you qualify. I will guide you through the process of meticulously planning long-term care through legal and ethical strategies to ensure you get the care you deserve.
Why Should I Hire a Long-Term Care Lawyer?
A long-term care lawyer can help you navigate the complex process of long-term care planning. I have experience helping clients find the right long-term care option for their needs and budget. I can also help you apply for Medicaid or other programs that may help cover the cost of long-term care after assisting you to qualify.
Don’t wait until it’s too late to start thinking about your long-term care plan. Contact me today to schedule a consultation. I will help you develop a custom plan that meets your unique needs.
Contact the Law Office of Eric Ridley Today for Compassionate and Helpful Service
Long-term care planning is a difficult and emotional process. You deserve to have an experienced and compassionate lawyer by your side. Contact me as soon as possible. Call the Law Offices of Eric Ridley today at (805) 244-5291 for a free initial strategy session and get the help you deserve.