Plan for Long-Term Care Costs TODAY!
Ten years ago, federal estate taxes were the main concern for many families. Now that the exemption amount for estate taxes is over $5 Million per person (at least for now), most people do not need estate tax planning. The new estate planning is long-term care planning and asset protection for you and your loved ones. With nursing home costs and long-term care costs skyrocketing, are you putting you and your family at risk without proper planning?
The Law Offices of Jeremy A. Wechsler develops asset protection plans for families in the Philadelphia Pennsylvania area designed to ensure that part of your estate is never spent on long-term care. With soaring government deficits, you can be sure that the Commonwealth of Pennsylvania will be more stringent on qualifying for long-term care benefits through Medicaid (Medical Assistance or MA in Pennsylvania).
Below are a few questions to ask yourself about your long-term care plan. If you answer yes to three or more, it’s time for a check-up.
- Are you older than 50 years old?
- Have you or your spouse had health problems in recent years?
- Does your family have a history of health problems that have led them to seek long-term care?
- Do you have over $500,000 in investable assets and real estate?
- Do you have children or grandchildren that you wish to ensure receive an inheritance, even if you need long-term care for several years?
- Have you decided traditional long-term care insurance is too expensive but want to find other ways to plan for long-term care costs?
- Do you have a proper elder law power of attorney that permits proper gifting and other provisions that may be essential for long-term care planning?
- Do you need to update your Will or trust, or need updated living wills/advanced health care directives?
Now is the time to plan! Call me today at (215) 706-0200 to schedule your consultation before the end of the year.