Preservation Associates prides itself in being a one stop financial shop for retirees and transitioning a loved one into a long-term healthcare environment is part of our many services. We help families understand the financial, legal and tax implications involved in determining who is responsible for paying for long term care.  Figuring out if Medicare covers anything or if you qualify for a Veteran’s Long Term Care policy is essential in starting the process.  There are legal ways to help qualify your family member for long term care in conjunction with long term care insurance and government programs without having to spend down their entire nest egg.


Having one place to turn for all of your questions and getting straight forward answers is what Preservation Associates is all about when it comes to servicing its clients.  Typically in these times of stress we turn to neighbors and friends for information, but unless their situation with their loved ones are exactly the same, (same state, same assets, same health) the advice a lot of times is of little use.  Call us today for a FREE Consultation to find out how we can make this emotional time in your life less stressful and know that you are doing the right thing for your family.  


Our team of financial advisors and tax accountants, and attorneys can evaluate your situation and determine if any government assistance is available to reduce or eliminate the out-of-pocket money that so many families find themselves spending.


Did you know that certain veterans, their spouses, or their surviving spouses can receive up to $25,440 per year TAX FREE to help pay for care…at home, assisted living, memory care or nursing care?
VA Aid and Attendance Rates:
Married Veteran…………$2120/month
Single Veteran………….…$1788/month
Surviving Spouse…………$1149/month

Services Available:


·       Medicaid Planning

·       VA Aid and Attendance application and qualification

·       Retirement and Income Planning

·       Social Security Planning

·       Medicare Supplements and Advantage programs

·       Estate Planning and Trusts

·       Pre-Paid Funeral Trusts

·       Tax Preparation and Planning

·       Annuities and Life Insurance

·       Long-term Care Insurance

·       Alternatives to Long-term Care products

·       Elder Law and Legal Consultation



New to Indiana - Spousal IRAs Are Exempt from Medicaid Spend Down


Call us today to see how this affects your eligibility for Medicaid and what you can do if the nursing home spouse has an IRA (which must be spent down).  We help you understand the financial and legal tools you can use to ensure that your (or your spouse’s) retirement programs are secured for exactly that - retirement - and that they are not used to pay down long-term medical or care costs.


Who Pays for Long-Term Care?


Many seniors mistakenly believe that Medicare will pay for long-term care expense.  In fact, Medicare will only pay for rehabilitation services and only up to 100 days.  The first 20 days following a hospital stay of more than 3 days (excluding day of admission and day of discharge) are paid at 100%.  The next 80 days have a $144.50 per day co-pay (usually paid by Medicare supplement insurance).


After discharge from rehabilitation, you will be responsible for all long-term care charges.  Methods of payment include long-term care insurance, privately paying, VA benefits, and Medicaid.  DO NOT ASSUME that you have to spend down to the state mandated $1500 level of assets.  There are legal and financial instruments that may allow you to retain more of your assets and MOST IMPORTANTLY, provide for the needs of your spouse or a dependent or special needs child.  Let us help you retain as much of your estate as possible.