Planning For Long-Term Care
Like it or not, many of us will face the reality of moving an elderly loved one into a nursing home someday, or possibly moving to one ourselves. The average cost of a nursing home in Minnesota is nearly $62,000 annually. Even with a healthy bank account and significant assets, the cost of care will deplete your life savings in a hurry.
Fortunately, there are federal and Minnesota state laws in place that allow families to avoid the depletion of generational assets through Medicaid planning. If you reside in the St. Paul east metro area and are considering placing an elderly spouse, parent or grandparent in a long-term care facility, make sure you talk to a lawyer who understands how Medicaid planning laws work.
Call attorney Greg Dittrich of Dittrich Law Firm, P.A.. For more than 20 years, he has been helping families with a full range of elder law, estate preservation and probate law services. He will explain the rules for transferring assets into a trust, how early you need to start taking steps and what nursing homes in your area accept Medicaid funds for payment.
We can also help you with your complete estate planning needs, including:
- Conservatorships and guardianship petitions
- Living wills, advance health care directives
- Legal, financial and medical directives, powers of attorney
- Setting up trusts, drafting wills
Call Today To Discuss Long-Term Care Planning With Greg Dittrich
There are important timelines that must be followed and Minnesota laws get tougher every year. Delaying is never a good idea. Call the firm at 651-315-8002 or send an email with a description of your situation. Serving clients in St. Paul, Woodbury, Stillwater and communities throughout the Twin Cities metro area.