Elder Care May Be More Expensive for Your Loved Ones Than You Intended

Having to pay out of pocket for nursing home or assisted living facilities can be expensive given that the median cost for a private room in a nursing home is over $100,000. This means that elder care often falls to family members first so long as family members are able to cover the basic needs.

It can be too expensive to put someone in a nursing home or get them the outside care that they require. But millions of Americans find themselves in the situation of having to move their loved one into their home or care for them directly.

Dementia, slips and falls, and general safety concerns bring about a lot of emotional grief and while the vast majority of Americans would prefer to live with a loved one in their older years, many of them may not recognize the emotional and financial caregiving costs. For example, your family members may have to stop working or adjust their work schedule down to part time in order to help support you in your older years.

This can also take a toll on their own family members and that person’s individual level of stress. Being mindful of how to consider these important issues can help you to create an elder care and long-term care plan that supports you and protects your interests without putting the burden on your loved ones directly. For more help on creating a long-term care plan, consult with an experienced estate planning lawyer.

Our Pasadena estate planning law firm regularly helps area residents to create plans for their own future. Protect what’s important to you with the right documents and strategies.

 

 

 

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