As your loved one ages, they may need more help completing daily tasks. Planning for long-term care can ensure that your relative’s needs do not outlast their assets, allowing them to maintain their independence and quality of life for as long as possible.
Understanding available long-term care options and associated costs can help when you are developing a plan for your aging relative.
In-home care
While hiring someone to provide in-home assistance can be costly, it has unique benefits. Aging in place allows your loved one to remain in their home with minimal disruption to their routine. Consider their needs and available resources when developing a long-term care plan.
While the cost for in-home care varies depending on how much support your relative requires, preparing ahead can help them manage the expense.
Assisted living facilities
These facilities can offer a home-like environment for your aging family member. Staff at assisted living facilities can provide necessary medical and personal care. When creating a long-term care plan, consider consulting an expert in elder law to help protect your loved one’s assets when determining how to pay for assisted living.
Palliative care
When your loved one reaches the end of their life, they may require hospice services, which focus on maximizing their comfort and minimizing pain. In some cases, Medicare can help cover the cost of a hospice facility.
Planning for long-term care in advance gives you time to consider all the available options for your relative’s unique situation. Being proactive can help ensure your loved one has the resources necessary to cover the costs while protecting significant family assets.
