Our office is in Mt. Clemens, so we have many clients from nearby Troy, Michigan. It is a larger, bustling city, so there is a vibrancy in the air at all times. People flock into town from all over the metropolitan area to enjoy the huge malls and great shops, and it is also a hub of commerce.
This community is thriving, and it is a rich repository of history that was originally established in 1827. The past is certainly celebrated via the Troy Historic Village, which is in essence a museum of history that explains the progress that has been made over the years.
Business minded students do not have to leave home to get a good education, because highly regarded institution of higher learning Walsh College is located within the city limits. There are also satellite campuses of a number of different colleges in town, including Central Michigan University.
Troy is a world-class city, and we are proud to be able to serve its residents. When you have all of your bases covered with regard to elder law and estate planning matters, you can go forward with the knowledge that you have taken the appropriate steps to preserve your legacy.
Prepare for Long-Term Care Costs
You should definitely address the potential for long-term care costs when you are planning ahead for the future. Unfortunately, there are a couple of different reasons why people often ignore the subject entirely. One of them is the simple fact that it can be hard to envision a time when you will need help with your activities of daily living.
The other is the logical assumption that Medicare would pick up the tab if you ever do need living assistance.
With regard to the first notion, about 70% of senior citizens will eventually need some daily help. Since the life expectancy for someone that reaches the age of 67 is 85 at minimum, many people will spend their final days in nursing homes. Moving on the second one, Medicare will not pay for the custodial care you would receive in a long-term care facility.
Medicaid is another government health insurance program that does pay for living assistance. You are probably aware of the fact that it is only available to people with limited financial resources. In spite of this, most seniors that are in nursing homes are enrolled in the Medicaid program.
This is our area of expertise as elder law attorneys. If you take the right steps, you can maintain your financial comfort as you prepare yourself for Medicaid eligibility in the future. It is a complicated process, but we can help you navigate it successfully.
While you are preserving your legacy, you can also make decisions with regard to how you want to pass your resources along to your loved ones. There are many options available to you, and the right choice will depend upon the circumstances. We can gain understanding of your financial situation and your estate planning objectives and help you establish a custom crafted plan that is ideal for you and your family.
Schedule a Consultation Today!
As you can see, there are some important matters to take into consideration if you are looking ahead toward your senior years as a Troy, Michigan resident. If you are ready to discuss the future with one of our attorneys, our doors are open. We offer free, no obligation consultations, and you can send us a message to request an appointment or call us at 586-493-7661.