PLEASE NOTE: We are able to fully assist you during these difficult times. We are offering our clients and prospective clients the ability to meet with us via telephone or through video conferencing. Please call our office at 914-948-1500 so that we may assist you.

We are pleased to announce the reopening of our White Plains office location for in-office meetings. We are following the applicable New York State regulations for Phase 2 re-openings. These regulations limit in-person gatherings, so although we will hold a select number of in-person meetings, we will continue to encourage telephone and video-conference meetings whenever possible. We have implemented health and safety procedures for all staff, as well as those clients who come into the office. Please click here for in-office meeting procedures.

Elder Planning Isn't Just For The Elderly

Long-term care planning options and how to pay for it

On Behalf of | May 24, 2018 | Care Planning

Estate planning is one of those things that people often neglect to address until it is too late. We encourage New Yorkers to address estate plans early and often because they and their families will be extremely grateful when the time comes for that plan to kick into play. The same holds true with end of life care planning. Although we don’t like to think about aging and the potential inability to care for ourselves, planning for the worst case scenario can give one peace of mind.

When it comes to long-term care, most people want to remain in their own home and receive care from their loved ones. While this usually is the ideal, it oftentimes isn’t feasible. Sometimes it also isn’t in an elderly individual’s best interests because loved ones may not possess the time, education and medical experience to adequately care for him or her. In this situations, it may be wise to consider nursing home care.

Regardless of whether an individual receives in-home care or care through a nursing home, the fact of the matter remains that it will have to be paid for in some fashion. A long-term care plan can help an individual determine how best to pay for the care that he or she wants. Special accounts that hold personal funds, Medicaid and Medicare and even long-term care insurance are options to help cover these expenses. However, it is important to note that a sound long-term care plan will pool funds from a variety of resources, as any one of the above mentioned resources is unlikely to cover long-term care expenses in their entirety.

Thinking about how you want to be cared for as you age is an important consideration. You should carefully develop a plan that suits your needs and desires while at the same time protecting your family’s financial resources. Legal tools exist to help you develop your plan, so discussing the matter with your attorney may prove beneficial.