Discover legal strategies to protect your home and life savings from being depleted by long-term care expenses, including trusts, the five-year rule, and crisis planning options.

From Columbia University alumni built in San Francisco
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From Columbia University alumni built in San Francisco

Lena: Hey there, welcome to another episode of Smart Money Moves! I'm Lena, and I'm joined as always by my financially savvy friend Miles. Today we're tackling something that keeps a lot of people up at night—how to protect your home and assets from potentially devastating nursing home costs.
Miles: Absolutely, Lena. And this is such a critical topic because the numbers are pretty shocking. The average nursing home stay is about 485 days—that's over a year—and can easily cost upwards of $150,000 in total.
Lena: Wait, $150,000? That's more than many people have saved for retirement altogether!
Miles: Exactly. And what's even more concerning is that about 70% of people who turn 65 today will eventually need some type of long-term care. So this isn't just a "maybe" scenario—it's something most families will face.
Lena: I think what scares people most is the idea that a lifetime of savings could just... vanish in a matter of months. Is there really anything people can do to protect themselves?
Miles: There absolutely is, and that's the good news we're sharing today. With proper planning, there are several legal strategies that can help shield your assets while still qualifying for assistance. Let's dive into the specific tools and techniques that can protect your family's financial legacy from being wiped out by long-term care costs.