Long-term care planning involves addressing a multitude of issues, including legal, financial and medical matters. It can include putting aside money, purchasing an insurance policy and drawing up a health care directive or durable power of attorney. In addition, it is going to require some decisions concerning living arrangements and being able to meet daily needs and solving problems that might arise along the way.
When you were young, long-term care issues probably seemed a million miles away. However, now that you are in full swing adult mode and your parents are well past the age of retirement, it may be time to start considering what kind of long-term care your parents might need. Here are a few things to consider while planning for the long-term care talk.
Options other than nursing facilities
While some people need full-time care from a nursing staff, not all individuals in their later years require that level of aid. For some, an assisted living situation or an apartment in an active senior community in New York can provide an appropriate amount of care while still allowing your parents their independence. For others, a day nurse of live-in health professional might be the best option. There are a number of possibilities available depending on the level of care your parents need.
Make decisions sooner rather than later
The best time to have a talk about long-term care is before your parents' health begins to deteriorate. In other words, it is best not to delay the decision-making process. This is especially true when dealing with the financial and legal aspects of such planning. For instance, if your parents have more than one investment account, it might make things easier to consolidate these into one brokerage account. Legal and financial issues should be addressed before your parents begin to show failing mental capacity.
What makes the talk so hard
No one likes to talk about aging and death. No one like to spend a lot of time thinking about the end of their life. This makes the discussion about long-term care planning and end-of-life matters very difficult. Furthermore, this is not a one-time conversation. Instead, this is an ongoing discussion that will come up multiple times as changes need to be made or documents updated. One of the ways you can combat the anxiety and difficulties that come with such talks is by focusing on the benefits that can come out of long-term care planning instead of the negative aspects of getting older.
If it is time to start talking to your parents about long-term care planning, the above can help you. Getting older is inevitable, so planning for the future is something that should not be delayed. Early planning can help you ensure your parents have the care they need and continue living their lives as comfortably as they wish.