You may need an elder law care attorney to help protect your home from long term care expenses. In Connecticut, when your spouse needs nursing home care for a debilitating condition, it is going to cost you over $12,600 per month. If you can afford this expense, congratulations. If you own a home, you have worked hard to keep it in good shape. It is also your wish to pass your property to your heirs. Since neither medical insurance, Social Security nor Medicare will pay for nursing home care, your choices are to exhaust your nest egg or go through the process of applying for Medicaid. Connecticut Title 19, or Medicaid, is a safety net for people who are not wealthy and are looking down the barrel of financial ruin to receive long term nursing home care. To apply for Medicaid, there are hoops to jump through to qualify… not to mention penalties, asset restrictions and time limits. Your attorney can recommend you ask the court to put your estate in a trust to protect your home from the State.
Now take a moment to look at your spouse’s medical prognosis. You own a home that you would like to pass to your family, and enough savings to purchase long-term care insurance to ease the burden of care. The statistics tell us there is a very good likelihood that most of us that survive into our eighties may find themselves in need of nursing care. Long Term Care prepares you for the devastating reality of nursing care. Consult with the friendly staff at the Cafro Agency and see if the option for Long-Term Care insurance may be more attractive than the alternatives. Call 860-779-DAVE today for an appointment.