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Making sure your estate plans include the cost of long-term care

On Behalf of | Jun 7, 2018 | Estate Planning | 0 comments

Estate planning will be different for each Pennsylvania resident. Some people will want to include a trust, while others may be satisfied with a simple will and power of attorney documents. Varying needs lead to varying solutions when it comes to estate planning. However, one important area for most people to address in their estate plans is the need for long-term care at some point, including the associated costs of long-term care, which can be quite high.

Lifespans in Pennsylvania and throughout the country are getting longer as people make better choices when it comes to their health, decreased smoking levels and advances in healthcare technology. This is obviously a good thing, but it also means that there are more people of advanced age in our society than ever before. As people get older, they are more likely to need continuing healthcare for certain conditions, illnesses or even injuries, which is where long-term care comes into play.

Long-term care at personal care homes, assisted living facilities, rehabilitation centers or nursing homes can be just what people need to have higher quality of life in their advanced age. Unfortunately, paying for these facilities and the assistance they can provide can be extraordinarily expensive. People who incorporate plans for these expenses into their estate plans will be much better prepared to shoulder the financial burden.

At our law firm, we understand that our clients are looking for the best information about their own unique financial and family circumstances. With the right information, our clients can make the best decisions for their futures. For more information about how our law firm can help Pennsylvania residents who want to consider the benefits of including long-term care costs in their estate plans, please visit our website.