Long-Term Care Planning in Charlotte
Plan Ahead with a Charlotte Elder Law Lawyer
At least 70% of Americans over the age of 65 are expected to need some
type of long-term care. Although most people assume that Medicare will
pay for ongoing long-term care, that is not the case. Further, most private
health insurance plans will not cover long-term nursing home care.
For 2015, the private annual cost of long-term care in North Carolina is
between $80,000 and $90,000. So everyone other than the very wealthy who
end up needing long-term care will most likely need to apply for Medicaid
at some point. Those who fail to plan will be forced to expend most of
their assets paying for long-term care before becoming eligible for
Long-term care planning with the assistance of a Charlotte elder law attorney
can allow you to protect some of those assets, so that you can pass on
some of your hard-earned savings to your loved ones.
Proactive planning involves an evaluation of assets and implementation of effective strategies
before the need for long-term care arises. Due to the nature of Medicaid
laws, effective strategies implemented at least five years before application
will allow an individual to protect most or all of his or her assets.
The sooner the planning begins, the more strategies that are potentially
Further, most people are concerned about becoming a burden on their family
if they are no longer able to care for themselves. Proactive planning
allows you to ensure that your care will be paid for and also allows you
to direct how future decisions will be made, thereby relieving family
members from making those arrangements during a time of crisis.
Crisis planning is necessary when the need for long-term care is imminent. This is often
the case when a loved one is unexpectedly hospitalized and then needs
to be released to a long-term care facility. In other cases, family members
may have been caring for an individual whose condition has recently deteriorated
to the point of needing facility care.
In these instances, it is extremely important to contact a Charlotte elder
law attorney prior to applying for Medicaid. Although there are fewer
options with crisis planning versus proactive planning, KYA Elder Law
clients can usually protect about half of their assets and still qualify
for Medicaid quickly. Additionally, as long as the individual needing
long-term care is still competent to make his or her own decisions, legal
documents can be prepared to determine decisions and decision-makers in
the event the individual later becomes incapacitated.
Contact our elder law firm in Charlotte to learn more about how our firm can help you.