Long term care
planning is an often overlooked (or ignored) aspect of estate planning for
many clients, even though it is many times foremost on their minds.
Whether for
ourselves or our parents or our grandparents, consideration must be given to
how the cost of paying for care in the home, at an assisted living facility,
or in a nursing home, is going to be handled (from available resources or
through insurance). Who in the family is going to be the primary caregiver
and will that interfere with that person’s own employment, family
responsibilities, or personal time. Should arrangements be made to provide
compensation for that person or should arrangements be made outside of the
home for someone else to be the primary caregiver should the need arise.
We can help you
structure your estate with long term care planning in mind. For those
clients over sixty five whose long term care needs have come a bit sooner
than expected and are faced with mounting expenses, we suggest reviewing the
Medicaid section of this website and scheduling an appointment to meet with
an attorney before the financial burden spirals out of control.