The average cost of a nursing home in Michigan is around $8,700 a month. Let that sink in! That is just over $100,000 a year! Where is that money coming from? Most likely, your life savings.
Does dementia or Alzheimer's run in your family? It does in mine, so what is my option? Pre-plan! Can you predict if and when you will get a stroke? What if it happens? Can you afford that crisis? Long-term care costs can absolutely destroy the best retirement strategies. Did you know that Medicaid will pay your nursing home costs in Michigan?
There are many truths and myths about Medicaid. The fact of the matter is, you do not have to lose all that you have worked hard for to pay for your long-term care costs. Medicaid is a complex system that many are not properly equipped to navigate. A nursing home social worker has a job to do, and it is to take care of you when you are in a facility. They should not be the ones counseling you on how to properly qualify for Medicaid. They are not the experts!
At Chawla Legal Group, we can put a plan in place to help you preserve between 65-100% of your hard earned life savings and still qualify you for Medicaid whether it is in a pre-planning stage or a crisis.
To find out more about Medicaid pre-planning and planning in crisis situations, call us at 586-273-7157.
Register for our free estate planning workshop today to learn more about estate planning tools and techniques that work for you!
Chawla Legal Group provides clients with strategies and tools to meet their estate planning goals. Register for an upcoming workshop or call to learn more.
Take the Next Steps!
For more information on Medicaid and Long-Term Care planning, please call (596) 273-7157 or register for a free estate planning workshop today.