Elder Law FAQs: Does the Nursing Home Get Half of My Assets?

When you are planning ahead for your elder years, you should have a thorough understanding of the lay of the land when it comes to nursing home care. There is inaccurate and incomplete information out there, and sometimes people come away with mistaken impressions. If you discuss everything with an elder law attorney, you can go forward in a fully informed manner. With the above in mind, let s look at a commonly asked question that stems from a misconception. Nursing Home Care Nursing homes are very expensive, and Medicare does not pay for nursing home care. In New York, the average annual cost for a room in a nursing home is over $100,000, so we are talking about a significant expense. If you enter a nursing home without any insurance coverage that will pay for your care, you are entering into an agreement with a private entity. You will be asked to sign a contract, and the terms of the contract will be clearly stated. It is the same type of situation that you have encountered all of
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