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Law Office of Gary R. Swavely, Jr. Blog

Saturday, August 29, 2020

‘Til Medical Divorce Do Us Part

In the traditional wedding vows, couples pledge “to have and to hold from this day forward, for better, for worse, for richer, for poorer, in sickness and in health, to love and to cherish, till death do us part.” Due to the rising cost of healthcare, it might be time for us to rethink this list of promises.

Some couples in the Reading, Pennsylvania area have discovered that the best way to love and cherish one another in the face of a serious illness — and all its associated medical costs — is to get a divorce. This is because splitting up on paper, even if you continue to live with one another, may unlock certain benefits the government otherwise considers you too wealthy to qualify for.

Whether you and your spouse would be in better financial shape if you split up depends on your current income, your assets, and the benefits you think you may need. As an attorney that practices both family law and estate planning, Gary R. Swavely, Jr. in well-suited to helping families make tough choices and find a path forward.

There are many factors that are relevant in these cases, and there is no one-size-fits-all solution for a family that is trying to figure out how to handle the financial burdens associated with a heartbreaking medical diagnosis, but here are some of the more common issues and things to consider. Taking a look at this list, and thinking about your specific situation can make your initial consultation with Attorney Swavely more productive.

What Sort Of Insurance Coverage Do You Have?

Depending on your age and your employment status, you may be better situated than you think. Having Attorney Swavely take a closer look at your existing insurance policies, and comparing them to the benefits you would get from a government-funded program can help you figure out where your gaps in coverage are, and how to fill them.

Do You Anticipate Needing Long-Term Care?

In 2020, the average cost of a semi-private room in a nursing home is around $7,500 per month, or $245 a day. But this cost can vary greatly depending on the demand for care in your area, the length of stay, and the type of specialized care required. Private rooms cost even more.

Attorney Swavely can help you determine if you already have insurance coverage for long-term care, and what options are open to you if you need help paying for care. He can also discuss alternatives to nursing home care, which are sometimes more affordable and allow aging or sick individuals to continue living in their own homes.

Have You Already Done Some Retirement Planning?

The retirement lifestyle you planned to lead, and the steps you took to put that plan into action may dictate what options are still available to you when it comes to moving money around to cover healthcare costs. Gathering your current financial documents so Attorney Swavely can take a look at them is a helpful first step.

Fighting For The Results You Need

If you or your spouse are facing uncertain medical expenses, and you want to make sure all the options are on the table as you plan for the future, Attorney Gary R. Swavley, Jr. is here to help. Gary has been assisting clients in the Reading area and beyond with difficult estate planning questions for over 25 years. His experience as a divorce attorney means he can also counsel and represent you if it turns out the best way to love and cherish one another is by getting a medical divorce.


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