If you’re beginning to think about future long-term care, you may feel stressed and overwhelmed. There are many things to consider when planning for this need. Taking the time to carefully plan as early as possible will allow you to better handle the costs and provide more choices than if you wait. Take a look at the following information, to better understand this need. If you have any questions, or if you’d like to discuss long-term care planning, contact an estate planning – elder law attorney.
It’s important to plan for long-term care as soon as possible after you attain the age of 50 (40 if you have early onset dementia in your family). If you put off long-term care planning, you may be unable to afford the care that you deserve.
When beginning to think about future costs, you will need to ask yourself some questions:
- What type of care may I need?
- What are all of my long-term care options?
- Should I invest in long-term care insurance?
- Are there other alternatives to long-term care insurance?
- What are the typical costs associated with long-term care?
- What are my options if I can’t afford care?
- What are my options if I can’t afford long-term care insurance?
- What if I have to sell my home in order to afford care?
These questions can help to stress the importance of planning and researching ahead of time. It can be surprising and upsetting realizing the true costs of care, especially if you have no plan in place.
It’s recommended that you work with an estate planning – elder law attorney. He or she will be able to guide you throughout the process of planning for long-term care. You need to make sure that you’re making smart financial and planning choices, so that you’re protected in the future.