What are your options when facing financial and health issues later in life?
As we age, it’s common to find ourselves in need of nursing home care or other assistance. Elder Law – the field of law that addresses long-term care needs and other issues of our elderly population – lets you plan for your future financial and health requirements.
Without a proper plan in place, long-term care can be so costly it can drain your entire estate, leaving you with nothing left to leave your children. If you wait to plan until the services are needed, you could end up paying out of pocket while a plan is being established.
ILLINOIS ANNUAL MEDIAN COST OF CARE (2019)
| IN -HOME CARE | COMMUNITY/ASSISTED LIVING | NURSING HOME FACILITY |
| Homemaker Services $53,768 | Adult Day Health Care $19,011 | Semi-Private Room $71,175 |
| Home Health Aide $54,912 | Assisted Living Facility $50,040 | Private Room $82,125 |
Resource: https://www.genworth.com/aging-and-you/finances/cost-of-care.html
CHICAGO AREA ANNUAL MEDIAN COST OF CARE (2019)
| IN -HOME CARE | COMMUNITY/ASSISTED LIVING | NURSING HOME FACILITY |
| Homemaker Services $57,154 | Adult Day Health Care $19,141 | Semi-Private Room $98,550 |
| Home Health Aide $57,200 | Assisted Living Facility $56,880 | Private Room $111,325 |
Resource: https://www.genworth.com/aging-and-you/finances/cost-of-care.html
Additionally, it’s very important to determine in whose hands you feel comfortable placing medical and financial decisions. It unfortunately happens all the time; an unexpected accident or illness that leaves you unable to manage your own affairs. And without a plan in place, the court will decide who makes these decisions for you.
For example, a senior interested in updating a will but that has an ailing spouse is better served by an Elder Law attorney well-versed on the impact Medicaid might have on that spouse’s future lifestyle.
Elder Law solves many of these types of issues for the aging population including; retirement, Social Security benefits, estate planning, and power of attorney. This area of law also includes elderly health care situations such as end-of-life decisions, long-term care, Medicare benefits, Medicare coverage, nursing home care, in-home care, and healthcare directives. A reliable Elder Law attorney on your side can help with planning long-term care needs that may require swift action.
Robins & Associates, LLC provides the following Metro Chicago Elder Law services:
- Advice on protecting assets to avoid impoverishing one spouse when the other needs nursing home care
- Filing for Medicaid assistance
- Long-term health matters
- Disability planning through Financial and Healthcare Powers of Attorney
- Incapacity planning through the use of Living Wills and Living Trusts
- Estate Planning through the use of trusts, wills and other legal instruments
- Probate
- Questions about nursing home issues including patient rights and quality of care
We are on your side at Robins & Associates, we can provide specialized Elder Law assistance to address legal issues that our aging loved ones may face.
You’ve worked hard for your life savings and Michael J. Robins is here to help seniors of modest means protect your resources from expensive costs of long-term care and pilot families through the probate process together.
Our expert legal direction can help provide the best possible results and smooth transitions for the elderly community and your family.