How to Keep your Elderly Parents' Care Affordable: Practical Strategies for Families

Written By Kevin McKernan

1. Take a Hard Look at Cost- and Alternatives 

  • Home Care 

  • Assisted Living 

  • Family and Community Resources 

Pro Tip: Many local religious, immigrant, and cultural organizations in Brooklyn have volunteer caregiver networks - these can be a valuable, often-overlooked support. 


2. Know (and Maximize) Every Public Benefit 

  • Medicaid for Long-Term Care 

  • MLTC (Managed Long-Term Care) 

  • Supplemental Security Income (SSI) and Social Security 

  • Veterans Benefits 


3. Get Creative: Shared and Innovative Living Options 

  • Shared Elder Living or Board-and-Care Homes 

  • Accessory Dwelling Units (ADUs) 

  • Adult Day Programs

4. Legal Planning to Protect Family Assets 

  • Irrevocable Trusts 

  • Power of Attorney and Health Care Proxy 

  • Estate Planning 

This document is designed for general information only. The information presented in this document should not be construed to be formal legal or tax advice nor the formation of a lawyer/client.

For further information please contact me at www.kmckernanlaw.com kevin@kmckernan.com or 718-317-5007.

Kevin McKernan
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