The Cost of Long-Term Care in Florida
At Safe Harbor Law Firm, we often hear families express shock when faced with unexpected long-term care costs. Nursing homes in Florida typically charge between $11,000 and $19,000 per month. These expenses can drain even substantial savings in a matter of months.
One couple we assisted had $460,000 in home equity and $300,000 in savings. They didn’t anticipate a sudden need for long-term care, nor did they have a Medicaid plan in place. Within months, their nest egg depleted due to high healthcare fees and missteps caused by Medicaid’s strict eligibility rules.
What Happens Without Medicaid Planning:
- Asset Depletion: High monthly fees can erase savings quickly.
- Medicaid Qualification Delays: The 5-year lookback rule penalizes last-minute asset transfers.
- Loss of Your Home: Medicaid estate recovery can claim your family home unless protected in advance.
How Medicaid Planning Protects Your Savings
At Safe Harbor Law Firm, we specialize in helping families preserve assets while qualifying for Medicaid benefits. With proper planning, you can ensure your loved ones receive the care they need without jeopardizing their financial security.
The Role of Asset Protection Trusts
One of the most effective Medicaid planning tools we recommend is a Florida-compliant asset protection trust. When structured correctly, these trusts safeguard wealth from Medicaid spend-down requirements while keeping assets available for your family’s long-term needs.
Key Benefits of Medicaid Planning:
- Retain Your Home: Protect your home from Medicaid liens or estate recovery.
- Avoid Spend-Downs: Safeguard your savings and investments.
- Qualify Without Delays: Ensure Medicaid eligibility without financial penalties.
To avoid Medicaid pitfalls, families with assets like a $500,000 home or $250,000+ in savings should act early. Connect with us to learn more about these essential tools for protecting your wealth. Visit our Medicaid Planning Services page for tailored solutions.
Start Planning with Safe Harbor Law Firm
Navigating Florida’s complex Medicaid rules is not something you want to handle alone. Our compassionate team at Safe Harbor Law Firm creates customized plans that protect what you’ve worked hard to achieve. We’re here to help you understand your options and move forward with confidence.
Protect What Matters Most
Don’t wait until it’s too late to safeguard your home and assets. At Safe Harbor Law Firm, we’re committed to helping families like yours avoid the Medicaid crisis and find peace of mind. Contact us today to take control of your future.
