Estate Planning | Making a Difference One Family at a Time

Income Available for Long-Term Care

  • Total amount of money you earn each month pre-tax. If you are married, include both yours and your spouse’s income.
  • Total amount of money you have left each month on average after you cover your routine expenses. 
  • List the estimated value of your home if you sold it today. If you have multiple properties, include the combined value of all properties. 
  • If you traded your car in today, how much would you receive for it? If you have more than one car, add the value of all cars. 
  • If you’ve pre-paid for funeral arrangements, include the total amount you’ve paid for both you and your spouse. 
  • Looking across all investments like mutual funds, stocks, IRAs, etc, what’s the minimum percent growth or return you expect to receive on them?

COMPLIMENTARY MEDICAID/LONG-TERM CARE CALCULATOR FORM

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Thank you for providing this information. Please feel free to reach out to us if you have questions about your estimate or if you’d like to have a complimentary copy of our report entitled “Set the Stage for Medicaid Eligibility.”

If you went into a nursing home today, we estimate based on your annual rate of return and your total net worth (house and investible assets), that your net worth would need to be at least {{calculation_results}} to cover your annual expenses for a private nursing room without Medicaid help. This estimate is based on an average monthly private room cost of {{ltc_amount}} in the Connecticut.
-If you’re covered, congratulations! Work with your estate planning attorney and financial advisor to protect the wealth you’ve been able to build so it can be passed on to your next generation.
-If your net worth isn’t where it needs to be, you’re not alone. We help families of all levels of wealth plan based on their circumstances so they can qualify for Medicaid without losing all their assets every day.
This type of planning takes time though and if you wait until it’s too late, we may not be able to help you save much of what you have. Call our office (860) 548-1000 to schedule a consultation so we can start your planning today.

Will you be eligible for benefits to help pay for long-term care costs as you age?

Our complimentary long-term care calculator will help you discover if you have the assets needed to pay for your care. Medicaid benefits may be available to help pay for the cost of care, but without proper pre-planning family resources must be largely or wholly depleted first, which means your assets could be lost to a senior care facility and/or the state of Connecticut.

There are many options for long-term care, including Home Care, Nursing Home Care, and Assisted Living, all of which can be very costly.

In Connecticut, the median cost of such care is $16,729 per month.

Seniors and their loved ones are often surprised (and frustrated) to learn that private health insurance and benefits such as Medicare do not cover most of these expenses.

It’s no wonder that most seniors in our area will go through their entire nest egg or life’s savings within the first few years of care!

The good news, however, is that there may be tools or strategies available for your family to help protect assets and offset some of the costs. Seniors may also be able to use planning tools like certain types of trusts to safely protect family assets from the reach of long-term care facilities.

You can find out what options are available to you and the steps to take to secure benefits by starting with our Medicaid Calculator on this page.

Medicaid Calculator

Use this calculator to help determine if the financial resources you have will cover your potential long-term care costs. If you don’t have enough, the next step is to contact us so that we can help you take a closer look at your eligibility for Medicaid, VA benefits, and other asset protection strategies that may be available.

We’ll give you a complete picture so that you are able to make decisions about your personal care needs from a place of empowerment and not pressure.

The time to plan is BEFORE a health crisis occurs. If you wait, you may find that your options are limited in a crisis situation. Contact us so that we can help you plan for a smooth transition as you age, without going broke in a nursing home or handing over your children’s inheritance to the State.