Want to explore long-term care options for you and your spouse? Continue reading to learn how the elder law attorneys in Michigan at the offices of Sean Patrick Cox can help.
Let’s face it, a good majority of us would like nothing more than to live for today. While tempting, the problem with this idea is that most of us don’t realize how quickly time can pass by. Before you know it, your children have all grown up and moved on to start their own families. Eventually, the time will come when you and your spouse must start planning for your retirement.
No one can really be prepared for the emotional and financial challenges that come with long-term care planning. This is a major reason why we at the offices of Sean Patrick Cox encourage people to start exploring their options for long-term care as soon as possible with the help of our experienced elder law attorney in Grand Rapid, MI.
The 3 Options for Long-Term Care You Can opt for
With a knack for elder law in Grand Rapid, MI. We know of a few very efficient options that you can consider right now when planning for your spouse’s inevitable long-term care.
1. Long-Term Care Insurance
Now you may already have an active insurance plan. Those measures may not be enough to cover your spouse’s potential long-term care in the future. Therefore our elder law attorney in Michigan encourages people to opt for a suitable long-term care insurance plan. This plan can serve as an additional layer of protection for your spouse. These types of insurance plans can cover medical costs that are not typically covered by Medicaid or Medicare.
2. Shared Care
Another great option would be to opt for shared care insurance policies. These types of long-term care insurance plans allow married couples to have a separate plan with an added privilege. They also have the option to benefit from their spouse’s plan. For instance, if the insurance policy of one spouse runs out of benefits, they can access funds from their partner’s plan. This insurance covers Nursing home costs, assisted living, home care, Hospice care, etc.
3. Asset Protection Planning
Long-term care planning and asset protection are joined by the hip. Most elderly folks must begrudgingly fall back on their life savings to pay for their long-term care. With the expertise of an elder care attorney in Michigan, however, you can devise an asset protection plan that allows you to protect your assets from long-term care costs. Here at Sean Patrick Cox, we offer elder law services in Michigan that entail analyzing your personal assets and preparing a plan to best protect them from the inevitable expenses of long-term care.
The Bottom Line
The problem with planning for the future is that nobody can know for sure what lies ahead. You need a proactive, strategic approach to preparing for your inevitable future health needs. That is what Sean Patrick Cox has done with resounding success for many years now. We are considered the most trusted law firm for senior citizens in Michigan for a reason.
Call us now or book an appointment with the best elder law attorney in Michigan today.
Sean Patrick Cox is a lawyer. Sean practices in two main areas, family law, and elder law. he has represented clients in complex divorce cases since 1994.
