One of the most important reasons to include nursing home planning in your comprehensive estate plan is the cost of that care. As of 2021, the national average for a year in long-term care was over $100,000. North Carolina residents paid just under that, on average, that same year. Moreover, the cost of LTC is predicted to at least double in 20 years. Considering that the average length of stay in LTC is three years, needing to pay out of pocket for the cost of nursing home care could put your hard-earned assets at risk.
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