Most people are deterred from buying long-term care insurance due to the high cost of the premiums (and the hope that they...Read more
With nursing home care in some parts of the country costing as much as $10,000 a month, a long-term need for care can deplete even the best-planned estate. Buying long-term care insurance can be crucial for a senior needing care, as well as for his or her spouse and children. One great advantage of this insurance is that most policies now cover care in the home or at an assisted living facility as well as in a nursing home.
The biggest problems with policies are the cost of the premiums, which are out of reach for most seniors, and the refusal of insurance companies to guarantee their rates. Another problem with long-term care insurance is that by the time many people decide to purchase policies, they are uninsurable due to health problems. One solution to this problem, of course, is to purchase policies while you are young and healthy. The other solution is to shop around; every company has its own underwriting criteria.
Local Elder Law Attorneys in Ashburn, VA
Judith Mtinick is well known for acting as a guardian, conservator, trustee or agent on behalf of clients or by court appointment. This experience gives her a wide perspective and extensive practical knowledge that she uses when advising clients in drafting their planning documents. Her experience, as a court appointed...
Attorney Samantha Simmons Fredieu is an associate at Hale Ball. Ms. Fredieu graduated magna cum laude from Vermont Law School where she was the symposium editor on the Vermont Law Review, a production editor on the Vermont Journal of Environmental Law, and a member of the Moot Court Advisory Board. She has clerked for...