Meurer & Potter Law Office, Denver, Colorado
It’s not a subject matter that anyone wants to talk about, but nursing home planning should be dealt with early and comprehensively to prevent your loved ones from taking on the burden of choosing a facility and then trying to pay for it. Did you know that nursing homes can cost anywhere from $4,000 to $12,000 every month? At the Meurer & Potter Law Office, we understand that it might be a bit of a sticker shock to see these numbers, which is why we offer a number of strategies for proper nursing home planning.
You may think that your private insurance, supplemental insurance, veterans assistance, Social Security and even Medicare is enough to make the monthly cost of nursing home care manageable. Unfortunately, it’s often not enough. What it may come down to is qualifying for Medicaid, which scrutinizes all aspects of your finances and assets, and has requirements that must be met according to your age, marital status and where you live.
With the help of the Meurer & Potter Law Office, nursing home planning will include strategies to qualify for Medicaid such as using specific annuities paid to your spouse (community spouse), paying down debts and expenses, or acquiring assets that do not affect eligibility. We’ll also explore other options such as using a reverse mortgage or transferring assets to a special purpose trust.
For nursing home planning, call or contact our offices today to schedule your free consultation: 303-991-3544