Estate Planning and Business Law Blog
Eugene & Lane County, Oregon
Paying for Long-Term Care
As Americans, especially the Baby Boomer generation, live longer lives there is an increased concern that eventually many of those individuals will require some type of special care or long-term care. Living in a full care facility can cost upwards of $7,000 per month.
This discussion from the Wall Street Journal gives two sides to the argument of whether or not to purchase long-term care insurance. While I don't agree with every point made, I think the article helps to provide some helpful food for thought.
Whether you have long-term care insurance or not, planning for your future is critical and can help to remove the incredible stress placed upon family members when an aging family member requires care -- especially when that family member lacks capacity to participate in their own care decisions. Careful planning with an estate planning attorney and financial adviser can ensure that there is a plan in place to guide long-term care decisions and provide adequate financial resources to execute the plan with minimal additional stress on all parties involved.
Do you have a plan for your future?