Studies indicate that the vast majority of people in the United States will need long term care services after turning age 65. Approximately 25% of them will need extensive care likely that it comes from an assistive living facility or a nursing home.
But even though the numbers indicate that more people will need this than ever and longevity shows that people will be living longer and therefore increasing the time period over which they need long term care, there is still no comprehensive long term care system or strategic planning in place to help most families.
Many families end up turning to their loved ones and adult children to help provide temporary long term care services, but those with more advanced needs such as dementia care often cannot be covered by family members. This prompts a stay in an assisted living facility or a nursing home which could be very expensive for families that are unprepared. One of the best ways to guard against this risk is to schedule a consultation with an elder lawyer.
Since approximately 14 million people in the country are already receiving some form of long term care and that number is expected to double in the next 30 years, you can take an important step for your family members by crafting your own long term care plan and having it reviewed regularly by your elder lawyer.
This will also make it that much easier to qualify for Medicaid if and when the time comes. No family wants to find themselves making difficult decisions about long term care based on only the cost of care. Schedule a consultation with a lawyer today to learn more.
Our Pasadena estate planning lawyers know that there are many factors to keep in mind as you plan to pay for long term care in the future. If getting support in a nursing home is a possibility, you want to know that you’ve taken proactive steps to protect your interests. You can start by scheduling a meeting to talk about your options.
