Medicare. Medicaid. Veterans Aid and Attendance. Veterans Base Pension. Spenddown. Lookback period. Independent living. Assisted living. Skilled nursing. In-home care. Home health. Respite care. Palliative care. Hospice.
As you may already know, navigating the never-ending list of long-term care terminology is mind-boggling. Most of us have friends or family with an opinion of the best route to take, the best way to save money, or the best way to obtain assistance paying for care. But with all the opinions and ideas swirling around, your choices for your own long-term care plan hang in the balance. What is the best option for YOU?
A personalized care plan is crucial to your success in navigating the many competing systems and developing the best plan for you and your family. At Parks & Jones, we are here to help you find the best possible combination of services and benefits and help you understand what your options are and how those options apply to you in your situation.
You cannot expect what worked for your aunt or your neighbor to work for you. Many factors drive the direction of your plan—Do you have long-term care insurance? Did you or your spouse serve in active duty during a wartime period? Do you already know what facility you want to live in? Would you prefer to stay home as long as possible? What is your income? Do you have a good relationship with your children? Do they live nearby? Do you have retirement funds or other after-tax investments? Do you own real estate? Do you require assistance now or can you wait at least 5 years? The answers to these and many more questions fuel the design of your individualized plan, giving you peace of mind knowing you have a plan in place as you approach the possible need for long-term care in the future.
You may be saying, “That won’t be me. I won’t be a statistic. My kids promised they will never put me in a nursing home.” I hope this is true for you, but statistics tell us at least 70% of people age 65 and older will need long-term care at some point for an average of 3 years. I meet with families on a daily basis who want so desperately to keep their loved one at home, but because of medical need or dwindling finances, they have no choice. Let us help you plan for the worst, so you can hope for the best.
If you or someone you love has reached retirement and has not planned for the potential of long-term care, contact us for a FREE 90-minute consultation. We will take the time to get to know you and your family and allow you to know your attorney, so together we can design a plan unique to your goals, your family, your assets, and your health. Call today at 417-823-9898 to schedule your appointment, so you can breathe a sigh of relief and age fearlessly. The choice of a lawyer is an important decision and should not be based solely upon advertisements.
Kara N. Ransom, Attorney at Law
Partner at Parks & Jones, Attorneys at Law
We Listen. We Care. We Build Relationships.