November is Long-Term Care Awareness Month. Many New York residents may want to take some time in the near future to consider what options they would like to take advantage of in the event that they need such care. The majority of people over age 65 will need long-term care at some point, and planning for care can prove invaluable.
Planning ahead can prove beneficial for the person needing care, and it can also help that individual’s family. According to a recent survey, 75 percent of Americans believe that they will need to care for a family member at some point. In particular, daughters feel that they will have to bear the brunt of this responsibility more than sons. Unfortunately, not everyone feels ready to care for an ailing or elderly parent.
This is where long-term care planning comes in. Parties can indicate whether they want care from family or professionals, and they can set aside funds to ensure that loved ones do not face an unnecessary financial burden when providing care. Over half of the individuals who participated in the survey indicated that they did not want to burden their children with care needs, and creating a plan can help ensure that family members know how care should be handled.
Planning for care can involve looking at many aspects of one’s life. New York residents may want to consider their families’ abilities, their financial situations, their wishes for care and numerous other factors. They will undoubtedly also want to ensure that their plans are effective, and consulting with estate planning attorneys could help parties understand what documents to use to create the most comprehensive plans.