Secure your future by starting your plan today.
Planning ahead for the possibility that you will at some point in your life need long-term living services can greatly increase your options for the way you will receive support, services, and care when the time arrives. It will allow your family and friends to know your preferences and ensure that your preferences are carried out.
Planning ahead also provides you the opportunity to financially prepare for the cost of services, plan your housing options, and preserve your financial standard of living for yourself and your family.
There are major reasons why planning today makes sense.
Everyone's situation is different, yet there are common reasons people choose to make a plan before it's needed.
- Financial security: The high cost of long-term care can quickly deplete your savings and strain your income. Everyone wants to protect their standard of living and that of their families and spouses. Also, no one wants to be a burden to others.
- Leaving a legacy: Some people want to pass on a legacy or inheritance. The legacy could be the family business, a home, money or other financial resources. The need for long-term care could affect decisions you make about the inheritance you want to leave.
- Freedom of choice: Having the freedom to choose is central to personal independence. Choosing a particular home- and community-based provider, or facility can be less stressful if financial concerns are not the only consideration.
- Depending on government funding: Some people feel an obligation to care for themselves and do not want to receive financial assistance from the government to pay for services.
- Peace of mind: Knowing that you are prepared gives you the opportunity and the ability to make a decision when you are not in a crisis. It also ensures that your wishes are respected in the event that you need long-term care.
Take these simple first steps.
These planning steps can help you think through the issues and develop a plan of action for your long-term care.
