How Safe Harbor Helps You Save on Nursing Home Expenses

Protect Your Assets While Receiving Long Term Care with Help From Safe Harbor Estate Law

Whether you or a loved one are in need of care now, or are looking into how to pay for care in the near future, Safe Harbor can help you to protect your assets and manage the costs of long-term care. Attorney Michael Teeter explains in this video how Safe Harbor can help you set up plans that will help prevent you from spending all of your assets on care.

Thinking about a nursing home or another form of long-term care for you or a loved one? Don’t wait to reach out! Call us at 612-615-9535 or visit our contact page for more options. We’re here to help you find peace of mind. Thanks for stopping by.

What You’ll Learn FROM THIS VIDEO

  • How Safe Harbor can help you save on long-term care in the nursing home, assisted living, or at home.
  • What options are available to protect your assets.
  • Why it’s important to speak with us today about protecting your assets!


Michael Teeter: Hello, my name is Michael Teeter, and I’m here to answer a question that we often get at Safe Harbor Estate Law. That question is, “Will I have to spend all of my money on the nursing home?”

The answer to that question is a resounding “No.”

As an attorney, I assist my clients to protect as much of their assets as possible from having to be spent on nursing home care expenses.

In this area of asset protection, we deal with two different types of clients.

The first type of client we deal with is someone who is in relatively good health and expects to have at least 5 years before needing care. For this type of client, we often recommend something called a Medicaid Asset Protection Trust. Until recently, the state of Minnesota did not permit these types of trust to be used. Recently, I was able to help win a victory at the Minnesota Court of Appeals authorizing the use of these trusts in the state of Minnesota. I am one of the few attorneys in the state of Minnesota who has experience with using these types of trusts to protect assets from the nursing home.

The second type of client we deal with is somebody who is already in need of care, or already in the nursing home. In this situation, it is not too late to protect your assets from having to be spent on the nursing home. We have a number of tools, most notably something calls a Gift Annuity Plan, which can often preserve at least half of a person’s estate from having to be spent on the nursing home.

Whether you are in good health and worried that you are going to have to spend all of your hard-earned assets on the nursing home, or are already in need of care, we will be able to formulate a plan to protect as much of your assets as is legally possible.

Please schedule an appointment with me today so you don’t spend any more on long-term care expenses than you have to.

Author Bio

Margaret Barrett is the Founder and Owner of Safe Harbor Estate Law, a Saint Paul, MN, estate planning law firm she founded in 2013. With almost 15 years of combined experience in litigation and Minnesota estate law, she is dedicated to representing clients in a wide range of estate law matters. Her practice areas include estate planning, asset protection, elder law, and more.

Margaret received her Juris Doctor from the William Mitchell College of Law and is a member of the Minnesota State Bar Association and the Ramsey County Bar Association.

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