In many families, there comes a time when, despite their affection for an elderly loved one, the demands of the elderly person’s care are greater than the time, energy, and/or skill the family has to offer.
When that situation occurs, the elderly (or disabled) person moves into a nursing home.
Nursing homes are expensive.
So, what sources of fund are available to the nursing home when they are out of money?
The most common sources of nursing home funds are:
Your own money.
VA benefits for those who qualify.
Planning for the nursing home is at the center of Elder Law.
The three purposes of Elder Law are:
1. Assure that the elderly or disabled person receives the care he or she needs
2. Keep the family in control of the assets and care decisions.
3. Assure that the elderly or disabled person qualifies for any and all possible public benefits, such as Medicaid or VA benefits.
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