What is Elder Law?

One of the greatest fears of older Americans is that they may end up in a nursing home. Going into a nursing home means a great loss of personal freedom, but also has tremendous financial cost. Nursing homes cost between $35,000 and $150,000 a year, depending on location and level of care.

Most people end up paying for nursing home care out of their savings, at least until the savings run out. Then, Medicaid will pick up the cost. Some of the advantages of paying for care yourself is that you are more likely to get into a higher quality facility and it eliminates or postpones dealing with your state’s welfare bureaucracy an often demeaning and time consuming process. The major disadvantage is the expense.

Careful planning, in advance or in response to an unanticipated need for nursing home care, can help preserve your estate for your spouse or for your children. You can protect your estate by purchasing long term care insurance or by making sure you receive the benefits to which you are entitled under the Medicare and Medicaid programs. Veterans may also seek benefits from the Veterans Administration.

For more information see the Elder Law Key Terms and the FAQ and Articles section.