Have you structured your estate plan to consider the possibility that you may need assisted living or long-term care in the future? Many older adults will require long term care at some point in the future, whether that is to recover from an injury or surgery or permanently.
It can be very difficult to make the decision about putting a loved one in assisted living or a long-term care facility, but chief among the concerns on that list during that time is whether or not you will be able to pay for this care.
One recent study found that by 2033, over 11 million middle income seniors who are aged 75 and above may not be able to qualify for assisted living, and yet will also not meet the qualification requirements for Medicaid. The study was completed by NORC at the University of Chicago.
Many in this group will not qualify for Medicaid assistance because this eligibility is based on modified adjusted gross income. You may need to consult with an experienced and qualified Medi-Cal long term care planning attorney to discuss how to structure your estate plan for the possibility of assisted living and long-term care expenses. If you’re not yet sure whether or not you qualify now or would qualify in the future for Medi-Cal payments for a nursing home or other care facility, you should consider all strategies to help you explore your options.
Set up a time to meet with a lawyer to make sure that you understand all of the options available to you and can select a strategy that works for you.
