Navigates the many insurance, trust and other products to create a personalized plan to ensure monies and resources will be available when needed.
- Why Plan? Consider:
Family caregivers experience more physical ailments than non-caregivers
- Family caregivers are more likely to experience severe stress, depression, and cognitive problems
- In 2007, caregivers spent approximately $2400 on the care of a loved one
- Caregivers are more likely to seek reduced work hours or quit altogether. Hence, limiting their opportunity to build their own retirement or long term care savings.
The process of long-term care planning involves the following four principles:
- Knowledge Is the Key to Success
- Professional Help Is Crucial in Saving Time, Money and Stress
- When Money is Available For Care, Caregiver Stress Is Reduced And Care Options Are Expanded
- Success Is Assured through a Written Agreement with All Parties Involved
Some steps involved in Planning for Long Term Care…
- Put important documents in place such as a Will and Power of Attorney
- Get financial counseling to thoroughly explore your financial options in order to effectively plan for LTC costs
- Choose a Medical Advocate in the event you can no longer make decisions for yourself due to an extended illness
- Investigate home healthcare services that provide at-home care.
- Investigate reputable long-term care facilities
- Put your plan in writing
92% of Americans are without plans for their long-term care.
A good rule of thumb is to develop a plan no matter what your age. If you are a parent, create a strategy in the event you need long-term care.
“Avoid the potential of financial devastation and loss of dignity by planning.”