Center for Elder Law & Estate Planning
May 8th, 2023
The statistics are clear: there’s a good chance that you’re going to need long-term care at some point in your life.
This may include a stay in a nursing home or some sort of in-home care, but regardless of the type of care that you may need, your savings are likely to take a hit unless you’ve properly planned to cover these expenses.
Unfortunately, even those who are proactive in engaging in long-term care planning make mistakes that put not only their financial future at risk but also the financial future of their loved ones. If you want to avoid that outcome, you need to know what those mistakes are so that you can avoid them.
Avoid these five long-term care planning mistakes:
- Failing to plan
- Thinking that a basic estate plan has you covered
- Believing that it’s too early or too late to plan
- Neglecting your plan
- Navigating the law on your own
You don’t have to be alone in your journey to protect your future…
We know that thinking about the possibility of ending up in a nursing home or some other long-term care facility can be scary. But with sound planning, you might be able to put your mind at ease by knowing that you’re prepared to secure the kind of long-term care that you want should the need arise. To make sure you’re covering your bases and fully protecting your future, you might want to think about discussing what you want with an attorney of your choosing. Just be careful when you pick your representation, as not all law firms in the realm of elder law are created equally.
Center for Elder Law & Estate Planning
