Long-Term Care
For much of recent history, life expectancy for Americans has consistently increased. Many people stay healthy and active into their older years, but as we live longer, we also experience more issues of declining health. Medical techniques have improved to help us live longer, and there are treatments for most ailments, but most of the health issues that arise in late life have treatments but not cures. This leaves millions of Americans unable to care for themselves.
If you own your own home, it can be difficult to decide what to do if you are in the situation of needing long-term care. As you plan your estate, you should consider what your plans are if the situation ever arose that you needed long-term care.
Long-Term Care Statistics
So what is the long-term care situation in the US? Consider some of the following statistics:
- In 1994, 5.5 million people needed long-term care, and by 2000 that number had grown to 10 million
- Experts believe that by 2050, 27 million people will need long-term care
- About 2/3 of those in long-term care are 65 or older
- Although many older adults who require long-term care are able to rely on family or friends for informal assistance, studies have shown that this places a great physical, emotional, and financial strain on the family and friends
Most of us do not want to think of entering some type of long-term care facility, but since it is commonly inevitable, we can have the most control and choice if we plan for that contingency ahead of time. Discussing what you would like to have happen if you must enter long-term care with an estate planning attorney can give you an idea of what will work best for you and your family.
Contact Us
Planning for the changes of later life is the responsible thing to do for our families and loved ones. Contact the Houston living will lawyers of Garg & Associates, P.C., at 800-242-2151 today.
