Elder Law
Estate Planning for the Elderly, including protecting and preserving assets for loved ones who require care in a nursing home.
What if your loved one is no longer able to care for themselves and needs 24 hour care? With the average cost of long term skilled care being nearly $7,0000.00 per month in the state of Michigan, most individuals’ assets will be depleted within months, not years. However, you do not have to spend all your money on long term care. With proper planning you can protect your loved ones’ estate and still qualify for Medicaid benefits. For a single individual, you can protect anywhere from one-half to two-thirds of your loved ones assets. For a married couple, 100% of their assets can be protected.
Michigan Elder Law Blog - Elder Law
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