Do You Have a Long Term Care Plan?

Elderly with health issuesThe government estimates that roughly 70% of Americans over 65 will require some type of long-term care

To anyone approaching that age and for those that love them, that statistic is alarming. It’s now not so much if you will need long term care, it’s a question of when you will need care and more important than ever it brings into focus the need for planning. 

A recent article in the LA Times entitled “Why You Need Long Term Care Insurance and Tips On Buying It” highlights the story of Maria Mascone and her mother, who suffered with dementia while living in an assisted living facility for more than 6 years before her death.  As Mascone tells us, “It made me open my eyes that my husband and I are at this age where we need to think of the long term.  "We need some kind of a plan."

What was equally enlightening is information gleaned from a 2010 poll by the SCAN Foundation and the UCLA Center for Health Policy Research.  Many Americans are still under the mistaken impression that Medicare will be available to help pay for any long term care need.  "When you ask them, 'Does Medicare cover long-term custodial care?' only a third know that the answer is no," says Steven Wallace, associate director of the UCLA Center for Health Policy Research.

As the title of the article suggests, it offers a wealth of information on how and when to purchase long term care insurance.  I strongly recommend that you start your research into any long term care insurance purchase by first reading these tips.  However, insurance is not always an option for everyone.  In that case, timely planning becomes even more vital if your intention is to provide a legacy to your loved ones.  Seek the advice of an Elder Law attorney in your area.

You can learn more about this topic as well as other strategies on our website under the tab entitled: elder law planning in Virginia. Be sure you also sign up for our complimentary e-newsletter so that you may be informed of all the latest issues that could affect you, your loved ones and your estate planning.

Ref: Los Angeles Times, “Why You Need Long Term Care Insurance and Tips On Buying It”




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We've been putting together as many resources as possible so that we can continue to help:

  • If you’re a current client with a signing appointment or a prospective client with a consultation and would prefer that meeting take place in your own home, we can accomplish that with a little bit of pre-planning on our part and with the addition of a laptop, smartphone, tablet or other computer in your home to facilitate this virtual meeting. For those of you that need to sign legal documents, that too can be accomplished with the use of a webcam (FaceTime etc.), so that we can witness and electronically notarize all of your important legal documents.
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Update to our Process

The unprecedented coronavirus pandemic has taken our entire country by surprise. We understand how difficult this time is for America’s businesses and families.  However, we believe it is vitally important that we make every effort possible to continue to offer solutions that avoid disrupting our important partnership with you, your family and friends.  As you know, estate planning is not something that should wait for a more convenient time, therefore the opportunity to address your important goals both during and after this crisis should not wait.  To that end, we have added the option of a ‘virtual consultation’ to our office process.  You will now have a choice of either meeting with us in our office or in the comfort of your own home.