Nursing Home Planning

When to plan for Long-Term Care

A good elder law attorney will provide Long-term Care and Nursing Home planning and advice in the following common situations:

  • An individual or couple is currently healthy, but wants to make a gift under existing elder law to avoid the possibility that the funds or property might be lost if they need long-term nursing home care. 
  • One spouse needs long-term nursing home care, while the other remains in the community.  
  • A surviving spouse or single person needs long-term nursing home care.

What you need to know about Long-term Care and Nursing Home planning

There are four things every person needs to know about long-term care and nursing home planning.

  • There is no "magic bullet" or one size fits all solution for long-term care planning. Rather, long-term care and nursing home planning are much like construction work: from project to project, different tools may be used, or the same tools may be used in different combinations. We choose from over a dozen distinct "tools" to create a plan specifically tailored for each situation. 
  • Expert advice on elder law is essential when dealing with long-term care eligibility. The wrong plan can have very serious unintended consequences, or result in significant missed savings for the family.
  • Proper nursing home planning can provide tremendous cost savings. With proper planning, many families can save $50,000-$100,000 or even more compared to doing nothing.
  • Any fees for proper planning can be paid out of funds that would otherwise be used for nursing home care, so planning for services for long-term care needs are essentially free.

The planning process

The planning process for a nursing home or other long-term care starts with an initial meeting.  This meeting is informational.  The goal is to help the family understand the long-term care planning process and the range of possible planning options available, and for us to get to know the family and gather some basic information. Depending on the situation, this meeting may be with the person who needs care, spouses, or the whole family.

 

The next step is to work out a comprehensive plan.  To do that, we need a complete financial picture, medical information, and an understanding of the family's goals.  We provide the family tools to assist in gathering this information, and in some cases help gather it ourselves.  We then put together a comprehensive written financial plan and present it to the family.  Sometimes, this plan consists of a single recommended course of action; more often, it gives a series of recommended options.  

 

Once the family settles on a course of action, we help make the changes necessary to put the plan into action. This includes assisting with asset transfers, filing the applications for benefits, and working with the County to get the application approved.  We also assist with post-eligibility issues and asset transfers. 

Costs and fees

As with our other work, we never charge for our initial informational meeting with the family.  That is simply our chance to meet and see whether going forward with the llong-term care planning process makes sense. 

 

At that meeting, we provide a flat fee quote for creating the comprehensive plan.  We always guarantee that we will find savings for the family of five times or more our fees, or the plan is free.  

 

Our fees to turn the comprehensive plan into reality are quoted as part of the plan. We structure our fees so that most or all are paid out of funds that would otherwise be paid for long-term or nursing home care, maximizing the savings for the family.  

How to get started

To get started, call us to schedule an informational meeting. That meeting can be held at our office or at a person's home, and can include some, all, or no family members in addition to the person who needs or is planning for nursing home care. There is no need to bring anything to the meeting--it is simply our chance to help each other understand the situation and decide whether the planning process makes sense.  Contact us today!

Lauterbach Legal LLC

2417A Post Road, Suite C

Stevens Point, WI 54481

Phone: 715.544.8393

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