There is increasing worry and planning by families to preserve family assets from catastrophic health care costs and avoid unnecessary taxes. Medicare, Medicaid and government recovery of health care costs are crucial issues.
Real estate occupies a special place in the government's scheme.
The problems are easy to underestimate until they hit. Basic nursing care costs are typically 30 to 35 thousand dollars a year and round the clock personal care is over 100 thousand dollars a year. The average stay in a nursing home is 30 months. It is estimated that 50 percent of married couples and 57 percent of single people go broke trying to pay nursing home costs. Medicare, V.A. and private insurance usually do not take care of long term custodial costs.