It is human nature to some extent to avoid subjects that are not especially pleasant. The problem with this is that ignoring the harsh realities of life doesn’t make them go away, and this is certainly true when it come to the eventualities of aging. But anytime that you face any challenging situation, it is much better to enter it totally prepared than to be suddenly thrust into it without any knowledge or information that you can draw from.
With the above in mind, we would like to suggest that you consider the possibility that you may need long-term care at some point. This is something that the majority of people are going to require but too many people take the attitude that it does not apply to them. The U.S. Department of Health and Human Services asserts that some seven out of every ten senior citizens are going to need assistance with their day to day needs at some point in time. 25% of people 85 years old and up are living in nursing homes, and believe it or not this is the most rapidly growing age group in the United States.
The thing about long-term care is that you probably don’t want to first start looking for a suitable facility after you find out that you need it. If you do, you may not be the one who makes the decision. The wise course of action is to be proactive and do some research and visit some communities that sound like possibilities after you have made some calls and asked a lot of questions. There is a very useful resource on the Medicare website called the Nursing Home Compare tool that you may want to utilize.
If you have done the legwork beforehand and identified a long-term care facility that you like, you leave nothing to chance and you can ease into your new lifestyle with confidence should you need living assistance at some point.
- Common Mistakes in Estate Planning – IV - June 14, 2023
- Common Mistakes in Estate Planning – Part III - June 7, 2023
- The Not-So Transparent Corporate Transparency Act - May 30, 2023
