Consider creating a long-term care plan for your older years

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Carl S. Goode |

No one wants to consider becoming too fragile to remain independent. This is why many leave loved ones unprepared for assuming the role of caregiver.

Exploring long-term care planning options now prepares your family for that time when you can no longer administer to your own needs. Crafting such a blueprint as part of your estate plan should provide you and your loved ones with peace of mind.

Decide the type and location of care

Part of planning for future health issues includes deciding the type of care preferred. For instance, if the physical or mental condition necessitates constant care, is a home healthcare nurse adequate or will a nursing home prove more beneficial. Absent these decisions, your family or a judge may choose for you.

Budget for the expense required

A financial shortfall is likely if you do not make arrangements. Consider a trust fund that pays healthcare costs in case you cannot do it. Medicare and social security may pay for inpatient facilities, but that money often runs out quickly. Making necessary financial arrangements may save loved ones the burden of trying to come up with the money.

Alert family as to the plan

Informing your family of your long-term healthcare plan may help alleviate their worry. It also lets them know who you want making decisions on your behalf when you no longer can. Having this conversation and preparing them may help avoid infighting and hard feelings.

The benefits of having a long-term care plan in place far outweigh any discomfort with doing so.

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