Jonathan Secrest

Protecting against nursing home costs

With appropriate legal planning, you can protect a lifetime of diligent savings

The biggest threat now in old age to the savings of most people is nursing home costs, which start at more than $100,000 per year. Long-term care can easily wipe out a lifetime of careful savings.

The good news is that, with some careful legal planning, much can be done in Vermont to protect your savings for your spouse and heirs.

There is much misinformation, even among legal and financial professionals, about what options are available to protect your savings. I would encourage individuals interested in learning more about their legal options in this area to work with an attorney well-versed in the intricacies of the Medicaid rules, tax laws, and other facets of elder law.

* * *...

Read More