With the aging of the "Baby Boomer" generation, it is estimated that the number of people 65 and older will grow dramatically. By 2030, government estimates are that there will be approximately 72 million Americans or in other words, . . . 20% of the population, will be over the age of 65. Older Americans face unique legal challenges, the least of which is paying for long term care and preserving their assets.
The average cost of nursing home care in New York is currently in excess of $10,000.00 per month and that amount is estimated to triple in just 20 years! In the greater New York City and Long Island areas, the monthly average is already several thousand dollars above the state wide average. With just a short stay in a nursing home, all that you worked hard for and saved will be lost without proper planning.
We help our aging clients and their families with the following:
- Disability and competency planning through Powers of Attorneys, Health Care Proxies, Living Wills and Revocable Living Trusts;
- Protection and transfer of assets through Irrevocable Trust Planning including Medicaid Set-Aside Trusts;
- Guardianship proceedings; and
- Elder Abuse & Neglect
Through our network of other attorney specialists and advisers, we also assist clients with Long Term Care Insurance analysis and purchase, nursing home and assisted living placement, and Medicaid and Veterans' Benefits applications.