It never hurts to plan for your future. People are living longer, diseases and illnesses can pop up out of nowhere, and you can never fully account for all of life’s unexpected moments. As you get older, you may not be able to be fully independent. Unfortunately, many New Yorkers fail to plan for long term care in their old age, such as nursing home living or home health care. It never hurts to plan for your future. People are living longer, diseases and illnesses can pop up out of nowhere, and you can never fully account for all of life’s unexpected moments. As you get older, you may not be able to be fully independent. Unfortunately, many New Yorkers fail to plan for long term care in their old age, such as nursing home living or home health care.
What is Long Term Care?
Long term care is the need of ongoing assistance with some of your basic activities. It is meant to make your life easier as you age. Long term care is about easing daily living by assisting you with tasks such as eating, bathing, dressing, or getting in and out of bed or chair. Long term care can include nursing homes, assisted living, live-in nurses, a home health aide, or even one of your children. It is important to recognize the need assistance and take steps to get the help you need.
Why Plan For Long Term Care?
While most people know, as they age, it will likely become harder to ambulate and fully care for themselves, a majority will assume they do not need a long term care plan. In fact, studies indicate more than 70% of people over the age of 65 will require long term care at home or in a nursing home. The chance of you needing such care will rise if you have disabilities, chronic illnesses, high blood pressure, or if you live alone. It is important to plan for your retirement; however, planning for long term care needs should be considered.
Planning for Long Term Care
You may not know how much or how long you will need long term care when you get older and it is never too soon to plan ahead for this sort of financial expenditure. It is important to speak with your family, your accountant, and your elder law attorney regarding a plan to save and be prepared for long term care options in the future.For more than 40 years, our firm has been helping people like you with long term care estate planning needs – and we bring you the knowledge and resources to protect you and your family. 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.