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Long Term Care Planning A substantial portion of our practice is dedicated to long term care planning for people faced with the overwhelming cost of institutional or community-based long term care. Forty-three percent of all Americans who turn 65 in any given year will eventually enter a nursing home. Twenty-five percent of those individuals will stay at least a year, at an annual cost that typically runs $40,000 to $60,000 in Arizona. Many of our clients cannot afford to privately pay for long term care and cannot obtain long term care insurance, yet have too much money to qualify for public benefits through Arizona's Medicaid program, the Arizona Long Term Care System (ALTCS). For more information on Arizona's Medicaid program see www.ahcccs.state.az.us We provide legal and financial advice that allows our clients to preserve for themselves or their family as much of their savings as possible, while at the same time hastening their eligibility for ALTCS benefits. For more information on eligibility requirements, see BASIC NUMBERS . A long term care plan is formulated at a comprehensive initial consultation and may be followed up with a written plan at the client's request, referrals to appropriate professionals and on-going advice. We have a former ALTCS eligibility worker on staff full time who can prepare and process a client's application and other paperwork through the ALTCS agency. In addition, we prepare trusts related to Medicaid/ALTCS planning. The "income only trust" allows an individual whose income exceeds the monthly ALTCS limit to still qualify for the program. A trust for a disabled individual under age 65 can protect that person's assets while ensuring eligibility for ALTCS or SSI benefits. For over age 65 adults, transfers can be made to an irrevocable trust, that permits eligibility after a waiting period. Assistance is also provided to help shield the estates of deceased recipients of ALTCS benefits from state recovery claims, including liens. In many cases, the family home can be protected from claims and lien recoveries made by the State after death. The purchase of a single premium annuity can be an effective strategy for preserving assets while qualifying for ALTCS benefits, particularly for a married applicant. Mr. McLaughlin is licensed to sell annuities and therefore these services can be provided in house independently of Mr. McLaughlin's law practice. For those persons that are concerned about long term care costs but are still healthy long term care insurance may be a good option. Mr. McLaughlin is also licensed to sell long term care insurance, also provided independently of his law practice.
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