Long-term care planning is about more than making sure you have the support you need when you age. Perhaps more importantly, it’s about protecting the people who are going to care for you the majority of the time: your family.
Did you know that around 70% of retirees end up needing long-term care services of some kind? That means that seven out of 10 people will need some support for at least a short time. It’s a gamble not to have a plan in place because the likelihood is that you’ll need support as well.
Why does setting up a long-term care plan matter?
Setting up a long-term care plan gives you the opportunity to discuss your wishes with your family, to prepare for injuries and illnesses and to address what happens if you can’t take care of yourself. You may select a nursing home or assisted-living community in advance, and you can start setting aside the funds needed to get the care you need at home or in a facility.
In your long-term care plan, you should consider how your life will impact those around you. What happens when your children become your caregivers and cannot handle your needs any longer? Do you have a plan for handling long-term care needs rather than short-term needs after a minor or moderate injury? These are things to think about as you start your planning process.
Your attorney can help you with your long-term care planning, so you have the guidance you need. Our website has more on what you can do to start planning sooner, so you have a solid plan in place as you age.