Long-Term Care Planning
For over a century, Bacon Wilson has been a trusted resource for individuals, families and businesses in the Pioneer Valley. Our mission is to provide unparalleled service to clients who need informed legal advice at every stage of their lives, including retirement and beyond.
Many Americans will need long-term care services at some point in their lives, and for many families, long-term care facilities can be prohibitively expensive. The need for this type of care can be a devastating financial blow, as costs often exceed $100,000 per year. Our estate planning attorneys understand the stress of this situation, and we are here to help. As one of Western Massachusetts’ largest, most established elder law practices, we have helped countless families navigate the legal challenges that come with aging, and make practical, sustainable plans for future care.
We use a variety of tools to help you achieve your goals. Our lawyers can help you or your loved ones:
- Evaluate whether long-term care insurance is within your means and likely to provide appropriate security
- Determine what types of trusts may be useful for maintaining control of your assets and property, should a major health issue arise
- Qualify for Medicaid should you need it for nursing home care or other services
- Protect your hard-earned assets for your heirs while minimizing what you have to pay for long-term care expenses
Parental Care Agreements
When an aging parent needs assistance to continue to live at home, many children opt to provide the care personally. This “caretaker child” arrangement begins when a child provides a parent with care similar to that of a licensed facility.
When a child provides care for a parent, it is best to establish a care agreement. This is a contract between the parent and the child, and possibly the child’s spouse, in which the parent agrees to pay the child a monetary sum (in either a lump sum or on an ongoing basis) or to finance an improvement to the child’s home. In return, the child agrees to care for the parent until either the parent passes away or is no longer able to perform activities of daily living, including bathing, eating, dressing, moving about the home, and toileting.
When establishing a care agreement, there are numerous considerations and potential pitfalls to be addressed. Our experienced legal team can help.
Contact Bacon Wilson
If you have concerns about the cost of long-term care, we can help you understand your options and plan appropriately. Please call 413-693-2787 or contact us online to take the first step in planning for a healthy and fulfilling future.