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Long Term Care Planning Archives

Talking to elderly parents about their long-term care planning

When most people think about estate planning and covering costs for long-term care, they probably think just about themselves. But, the reality is that many people will need to have these discussions with their parents as well, particularly when those parents are getting older. Unfortunately, some people may shy away from these discussions because they find the topics uncomfortable.

Paying for long term care will be unique to your situation

Long term care planning may be important for you and your family. Many Pennsylvania residents make the smart move of planning for the future, which, in most cases, means serious financial planning and estate planning. However, there may be one aspect of retirement or growing older about which some people have not thought -- the potential need for long term care.

What is 'elder law' and how can it help Pennsylvania residents?

Long term care planning is only one area covered by attorneys who practice "elder law." What is meant by that term? Most Pennsylvania residents are familiar with some of the most common areas of law: personal injury, medical malpractice, divorce and criminal law, for example. But, for those thinking about estate planning, long term care planning and how they will be able to accomplish their financial goals as they get older, the area of "elder law" may be something with which to become more familiar.

Don't let your mom battle dementia alone

Your mom is pretty much a superhero. When you were younger she taught you, disciplined you and nurtured you. You will never forget that time you fell and scraped your knee on the pavement. It bled, and she scooped you up into her arms as if you weighed nothing at all. Your mom bandaged your knee and held you close. She soothed you, humming in that special way only mothers can.

Protecting your loved ones at a nursing home

Long term care planning can help to protect you and your family. As we age, the possibility of needing long term care becomes more likely. While this is a lifestyle change for which no one wishes, dealing with the logistical details of you or your spouse moving into a nursing home involves much more than just leaving your home. There are also many financial elements that are of great concern.

Exercise your estate planning muscle

The wellbeing of your estate likely rises to the top of mind as life's milestones pass. Indeed, having the right plan in place as you age is important. What does the future hold for you and your estate? If you don't already know the answer to this question, know that what happens to your estate relies somewhat on what happens to you as you age. How do you find vitality for both you and your estate?

How do people typically pay for nursing home care?

Long term care planning can be important since many people in Pittsburgh, Pennsylvania, may have to spend their last years living in a nursing facility. One thing that nursing facilities generally have in common, however, is price, with the average cost being $321.95 per day in 2017. This means that long term care planning is important when people in Pennsylvania start thinking about financing nursing home care.

We help people planning for long term care

Long term care planning is an issue that many Pittsburgh residents must face when dealing with the needs of their older relatives for assisted living or nursing facility care. Planning for long term care is something that should be done sooner, rather than later. It is also never too early to begin preparing for one's own possible long term care needs. When making these preparations, it is a good idea to follow some best practices.

Trusts could be the way for long term care planning

Long term care planning may involve the use of irrevocable trusts. Why are these trusts useful vehicles to protect your assets? Irrevocable trusts take the assets out of your name and control, which can protect them from being exposed to paying for your long term care.

Helping you with your Long Term Care Planning needs

Long Term Care planning usually involves the review of how one could pay for long term care in the event of disability and/or incapacity. This review may involve an elder law attorney, an accountant, a financial planner and/or a long term care insurance broker. One way that long term care can be paid for is by using your income and retirement funds as well as your savings. However, since the average cost of nursing home care is now between $9,000 and $10,000 per month, a lifetime of savings can be depleted quickly.

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