Tully Law, P.C. Releases New Guidebook, “How to Plan for Aging Parents 2016”
Report Available to the Public Free of Charge at Law Firm’s Website
Melville, NY — Tully Law, P.C. has released a new guidebook, which provides valuable information for adults on how they can plan for their elderly parents as they age.
“How To Plan For Aging Parents 2016” addresses crucial topics to make sure the elderly are able to afford the quality life care they deserve. Topics include the cost of long-term care; life care planning; Medicare; Medicaid; planning for long-term care; potential Medicaid recovery issues; and the future of long-term care. This report is available free of charge and can be downloaded at www.tullyelderlaw.com.
According to the firm, the cost of nursing home care on Long Island runs from approximately $115,000 to more than $200,000 a year, or approximately $312 to $612 daily. “Studies show that approximately two out of every five people reaching age 65 will need some type of long-term healthcare,” Brian Andrew Tully, Founding Partner, Tully Law, P.C., said. “You are likely one of the many people who would prefer to stay at home, no matter what the cost, but without the proper planning, it may leave you with few alternatives.”
The guidebook also introduces the concept of Life Care Planning, a new specialty of elder law emerging around the country. While traditional elder law or Medicaid planning law firms focus on saving the elder’s money for the next generation, Life Care Planning law firms use the elder’s money and government benefits to maximize his or her quality of life and independence. Life Care Planning helps people find and pay for good care by bundling asset protection, public benefits qualification, care coordination, nursing home advocacy and crisis intervention.
“Contrary to what many seniors believe, Medicare does not cover everything,” Mr. Tully said. “It is imperative that seniors, those approaching retirement age and the families of those needing long-term care take advantage of the planning opportunities that exist today and implement an asset protection plan. As with any planning, a good way to begin is to seek competent advice from a qualified professional.”
A member of the Suffolk County and New York State Bar Associations, Mr. Tully is certified as an elder law attorney by the National Elder Law Foundation and concentrates his law practice on life care planning, elder law, estate planning, Medicaid benefits and asset protection. He has received accreditation from the U.S. Department of Veterans Affairs to represent and assist veterans and their spouses in the preparation, presentation and prosecution of claims for benefits, including the Aide and Attendance Pension.
In 2004, he founded the ElderCare Resource Center, Inc. (www.eldercareresourcecenter.info), whose mission is to be the community resource for support, answers and expertise in regard to advance planning and informed decision-making about present and future long-term healthcare. The Suffolk Nassau Regional Business Partnership voted the ElderCare Resource Center as Educational Business of the Year in 2005.