Five Numbers

80%: The likelihood that a person age 65 will need nursing home, assisted living, home or community care during their lifetime.[1]

$90,000: The average cost per year of a private room nursing home in California in 2012.[2]

2.5 years: The median length of stay in a nursing home (901 days).[3]

$225,000: The average cost per year of a private room nursing home multiplied by the median length of stay.[4]

$5,518: Median household wealth remaining after a family member lives in a nursing home for six months or more.[5]

[1] Brooking/ICF Long Term Care Financial Model, 1995.

[2] Genworth Financial, 2012 Cost of Care Survey

[3] Centers for Disease Control, 1999 Nursing Home Survey

[4] Employee Benefit Research Institute, “Effects of Nursing Home Stays on Household Portfolios,” June 2012

• Author
• Recent Posts

Caprice Collins

Attorney Caprice L. Collins is a top rated Harvard Law School graduate. She has 34 years of legal experience with a successful law practice devoted exclusively to Estate/Business Planning and Trust Administration. Attorney Collins is a well-respected keynote speaker on Wills, Living Trusts, Estate Planning, Business Planning and Trust Administration. She has appeared on California’s Real Estate Radio Station KTLK AM 1150 as a legal expert on Estate Planning and Living Trusts among many other notable media appearances.

Latest posts by Caprice Collins (see all)

• Planning for California’s Proposition 19 - December 1, 2020
• Living Trust Protections for African Americans Against Medi-Cal Recovery - October 13, 2020
• Don’t Let the State Take Your Child’s Inheritance Just Because They’ve Gone to Jail - October 13, 2020