Senior citizens have overcome a lot of risks in life to reach an advanced age. But the biggest risk seniors face is a lack of quality long-term care. Every year, thousands of elderly individuals suffer because they failed to plan for long-term care, even though most will need it. Long-term care can include nursing homes, assisted living, home health aides, or live-in nurses.

Needing Long-Term Care

According to the U.S. Department of Health and Human Services, about 70% of Americans who reach 65 or older will require some form of long-term care during their lifetime. But, many people fail to plan ahead for the expensive costs of long-term care. As you age, it becomes more difficult to take care of yourself, without the assistance of someone else. Long-term care facilities, and in-home alternatives help the elderly and the disabled to receive needed support.

Care and Needs of the Elderly

Many elderly people have the same goals and priority in how they want to live out their lives. They desire independence, good health, good healthcare, and having the funds to support themselves properly. Unfortunately, planning and preparing in the event that long-term care is needed is not often a priority. When you consider how many people actually need it, it is plain to see why this can be an issue. Much like the taboo about writing a Will, no one wants to think of themselves as helpless and needing assistance. But, much like a Will, it is important that preparations are made.

Does Long-Term Care Mean Losing Independence?

For many elderly individuals, moving to a nursing home can feel like a tragic loss of independence. But with the right planning and preparation, the transition doesn’t have to be rushed. For many families, moving a loved one to a nursing home can be a hasty decision after a bad fall, the emergence of a major health issue like dementia, or a stroke. But when you plan ahead, you can look into facilities or plans that work for you. You can choose the long-term plan option that makes the most sense for you, and for your needs. With the right plan, you can chose homecare or one can find a facility that meets your needs.

The Costs of Care

Long-term care costs can be significant. Luckily, there are many of ways to plan ahead. Planning ahead with your attorney is a great way to ensure that there are funds established for the likely event that you will need some form of long-term care in the future, however distant. Assisted living in areas like New York City can be upwards of $7,000 a month, and nursing homes can cost even more. It is never too late to start planning for your future, even the parts you may not be looking forward to.

For more than 40 years, our firm has been assisting people like you with long term care and estate planning needs. We bring you the knowledge and resources to protect you and your family. Armstrong & Lamberti, PLLC does not provide tax, legal, or accounting advice by articles. This material has been prepared for informational purposes only and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. Call 718.477.7700 or contact us online to schedule a free initial consultation with an estate planning attorney at Armstrong & Lamberti, PLLC. We proudly serve Staten Island, Brooklyn and the other boroughs of New York City.