Should I sign a nursing home contract?

While most people prefer not to enter or place a loved one in a nursing home, there are times when, despite one’s best intentions, one has no alternative. Because nursing home care is so expensive, typically between $4,000 and $6,000 a month, it is essential to consider the potential impact of nursing home care on one’s finances and to take advantage of whatever planning opportunities may exist. By doing so, you will maximize your options to protect the family assets and ensure that the community spouse is not left destitute.

Nursing homes have tremendous expenses, and their contracts are designed to protect the nursing home as much as possible. Although there are laws that protect nursing home residents and their families from over-bearing contracts and abuse, it is up to you to seek professional guidance and review of the contract before you sign it. You also want to be sure not to assume personal liability for the resident’s nursing home expenses. By obtaining professional legal advice before you sign anything, you will allow your attorney to show you how to avail yourself of income and asset protection planning opportunities that may no longer be available after the contract has been signed.

The quality of care your loved one receives at a nursing home depends a great deal on how much time you spend visiting and talking with the care-givers. The less interest you show, the greater the likelihood of neglect.

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