Crisis Planning in Tennessee

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Many Tennesseans develop estate plans as they age, but they may not realize how quickly long-term care such as nursing home expenses can deplete their funds and assets.

Contact the Law Offices of Charles R. Frazier at 615-267-0125 to speak with a Nashville Medicaid planning attorney about crisis planning for your future.

Tennessee Medicaid and Long-Term Care Planning

Long-term care to cost upwards of $9,000 per month which can deplete an entire estate, leaving your parents destitute and without a legacy or inheritance to pass to their loved ones. 

TennCare rules enable families to get the best of both worlds. Your parents can get the care they need without leaving themselves impoverished.

As you age, you will likely need long-term care, such as in a nursing home or assisted living facility. You may have to pay for this care using:

  • Your own money or assets
  • Long-term care insurance
  • Medicaid, known as TennCare in Tennessee
  • VA benefits

What Role Does Crisis Planning Play in Tennessee Medicaid Planning?

Crisis planning involves developing an immediate plan for implementation to pay for long-term care now or within two to three years. According to Genworth, annual long-term care costs in Tennessee in 2022 include:

  • $56,559 for a home health aide
  • $50,738 for an assisted living facility
  • $88,348 for a semi-private room in a nursing home
  • $94,739 for a private room in a nursing home

TennCare is the most common long-term care payment option. However, the state will seek to collect repayment for your care when you pass away, and qualifying can be difficult if you have high-value assets.

If you haven't previously planned for rising nursing home costs and need to enter a nursing home or assisted living facility due to deteriorating health, our Medicaid planning lawyer with the Law Offices of Charles R. Frazier can help you with crisis planning.

How Can a Tennessee Medicaid Planning Lawyer Help with Crisis Planning?

At the Law Offices of Charles R. Frazier, we offer experienced Medicaid planning with crisis planning for sudden illness or incapacity. Our Medicaid planning attorney can help you determine what late-in-life care you might need and how your long-term care expenses could affect your assets.

Many people believe they must sell their homes or large-value assets to qualify for TennCare Medicaid. However, we can help you protect your assets in trusts, where they won't contribute to your TennCare qualifying asset evaluation.

You can also protect assets in trusts to leave to your family as inheritance after you pass away. Some trusts protect assets from claims by the state for Medicaid repayment.

Contact Our Crisis Planning Attorney at the Law Offices of Charles R. Frazier

Call our crisis planning attorney at the Law Offices of Charles R. Frazier to take your next steps toward long-term care without the fear of losing everything you've spent your life working hard for. We can guide you through the steps of qualifying for TennCare while protecting your assets so that your family members can receive their inheritance after you are gone.

Call us at the Law Offices of Charles R. Frazier in Nashville, Tennessee, at 615-267-0125 to schedule an appointment to speak with our crisis planning attorney.

Tax and Estate Planning Lawyer serving clients in Tennessee, Michigan and Texas

At the Law Offices of Charles R. Frazier, we help businesses avoid or resolve tax problems and we protect families with cost-effective estate planning services. As a former IRS agent and veteran of the U.S. Army, Charles R. Frazier has the experience and understanding to find the right solution for your needs. We provide counseling and representation to business owners facing difficulties with the IRS or State Department of Tax Revenue. We also develop plans to help families preserve their hard-won assets so they are prepared in case of death or incapacity. Schedule Now

Middle Tennessee Main Office

4007 Hillsboro Pike Ste B
Nashville, TN 37215

Rutherford County, Tennessee

5258 Murfreesboro RD, #B
La Vergne, TN 37086