Elder Law & Long-Term Care Planning
Representing Burlington, WI | Kenosha, WI
Perhaps the most pressing issue for the aging community remains long-term or nursing home care, and how to pay for it. Long-term care planning is the process of arranging your assets in a way that protects some or all of your assets from the devastating cost of long-term or nursing home care. It is critical that nursing home care, Medicare/Medicaid, and healthcare documents be prepared ahead of time to help minimize costs and stress on loved ones. The average cost of nursing home care in Wisconsin is over $100,000 a year. We are here to assist you in getting all of your affairs in order so that you have the legal tools and protections necessary to preserve your legacy and ensure your wishes are respected if you become incapacitated or disabled.
Reasons you should have a long-term care plan in place:
- To preserve independence and dignity during the later years of life.
- Health insurance often does not cover long-term care needs.
- To protect loved ones from the physical, emotional, and financial toll that long-term care can wreak on the family.
- A power of attorney allows you to choose someone you trust to manage your affairs.
- You can plan ahead for the cost of nursing care and facility arrangements.
- A long-term care plan can help you preserve your assets for future generations.
We at Terry & Nudo, LLC know that aging can be difficult, but with a comprehensive estate plan, a financial plan, and a family plan, it can be more carefree.
Elder Law Services We Offer
- Medicaid Crisis Planning: Medicaid Crisis Planning is appropriate when a person is in need of immediate financial relief from long-term care services, which are either already being provided or need to be provided soon. Those who failed to engage in Pre-Planning may have little choice but to engage in the Medicaid application process which can be overwhelming.
- Medicaid Planning: Medicaid can provide much-needed coverage for nursing home programs. We can help you navigate the program requirements and organize your assets to maintain eligibility.
- Long-Term Care Insurance: Since traditional health insurance may not cover nursing care costs, long-term care insurance is a great option that can help cover those costs.
- Medicaid Application Support: Qualifying for Medicaid is only half the battle—next comes actually applying for and obtaining benefits. Whether you’re new to Medicaid planning or you have too many cases, we have a solution. Perhaps you’re overwhelmed with the process or you simply don’t have enough time to take on the Medicaid application. With Terry & Nudo, LLC on your side, you can rest assured you’re in good hands.
- Funeral Expense Trusts: A funeral expense trust (FET) is a small whole life insurance policy that protects funds for funeral and burial costs. A Funeral Expense Trust provides asset preservation for future funeral costs along with peace of mind for your loved ones.
- Disability Planning: When you are alive and able, you can make your own life decisions. But what if this decision-making ability is lost to disability or incapacity? Many are under the mistaken impression that a spouse, parent, or adult child can automatically step in and make decisions on their behalf if they become unable to make decisions on their own. However, Wisconsin Law offers no such default for anyone 18 years old or older. These documents are deceptively complex and can cause many unintended results if not drafted and executed properly.
- Special Needs Planning: We can help you create a plan for your special needs loved ones, including how they will manage their daily activities, government benefits, and other care.
