Law Office of Richard M. Russell
197 Palmer Avenue
Falmouth, Massachusetts 02540

This site does not provide legal advice. Please visit the Law Office of Richard M. Russell for information specific to your circumstances.

Planning for Long-Term Care

Long-term care is expensive. One way in which families plan to meet the cost of long-term care is to explore benefit programs that the government offers to assist in meeting these costs. Individuals and families who plan their affairs to meet the eligibility requirements of these programs often find that substantial assistance is available. While the eligibility rules are complex, the following is a brief summary:  

The Home: Specific rules apply to the home. While ordinarily one need not sell his or her home to obtain government assistance to meet the cost of long-term care, the home is nevertheless at risk to satisfy costs after a long-term stay, as without planning the government retains the right, upon a nursing home resident’s passing, to sell the (former) home to satisfy the costs of care provided during lifetime.

Couples: Specific rules apply to couples. Generally couples can retain the home and substantial assets, yet assets beyond the amount permitted will, without proper attention, disqualify a spouse from government assistance. Dealing with these "excess" assets presents several planning opportunities.

Individuals: Unlike couples, ordinarily almost all an individual’s property (other than the home) constitutes "excess" assets. Again, planning is available to preserve at least some excess assets for the family.

Advance Planning: For those who wish to protect the home or excess assets, advance planning is available to preserve these assets for the family or others. This planning, however, is time sensitive, and anyone considering planning for the cost of long-term care should act promptly.

Please consult the Law Office of Richard M. Russell for advice on these complex matters.