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Long Term Care Planning: Where do we start?
Long term care planning is a multidiscipline approach to educating and presenting planning options that apply to an individual’s long term care goals. Nearly every American will need assistance with at least one activity of daily living (ADL) such as bathing, dressing and toileting, etc. as they gracefully age.
Several factors can raise the need of long-term care assistance such as:
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Medical History – Individuals may need more assistance at home or in an assisted living facility depending on their previous conditions or problems.
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Aging Conditions – Cognitive impairments, mobility and other aging elements can increase the need for assistance with care.
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Gender – Generally women live longer, and some will need caregiving help as they age.
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Marriage – Married couples can tend to each other’s needs and are less likely to use caregivers.
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Life Choices – Unhealthy habits of poor diet, smoking or drinking increase the risks of health-related conditions causing the more care needs.
Long term care planning can also involve implementing asset protection trusts to protect an individual’s hard-earned assets from creditors, predators and nursing homes, or qualifying a client for government benefits to help them pay for long term care.
A recent study from the Department of Health and Human Services (DHHS) in 2019 found that over 70% of older adults will require some long-term care. Without the proper planning, families
and caregivers can have unrest and stress placed upon them.
Contact Kristi with Elder Care Advisors today at kristi@eldercareadvisors.org or by phone at 636-395-0877 to discuss solutions.