Resources
Estate Planning Update – 02.23.21
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A Long-Term Care Strategy That Provides More Than Hope
By: Isiah Robinson
Growing up, my parents would frequently reiterate that hope is not a strategy. Although I did not always adhere to this guidance, their mantra has been confirmed more often than not. As my family is currently structuring long-term care plans for a loved one, I am reminded of the importance of an actual strategy in long-term care. In other words, hope is not an appropriate strategy for addressing long-term care planning either.
As my family has learned, long-term care is a necessity. According to the U.S. Department of Health and Human Services, 70% of people turning age 65 will need some type of long-term care service. In the same study, results demonstrated around 48% of people turning age 65 or older will need some type of paid long-term care services. These percentages suggest the need for a long-term care strategy more definite than hope.
Many families do not anticipate long-term care needs until a family member needs it immediately. While crisis long-term care planning is possible, the best time for thinking about long-term care is before you (or a loved one) need it. Planning for the potential need gives you time to learn about the wide variety of services and their costs. It also allows you the authority to make significant care decisions while you are still capable, as opposed to another person making the decisions for you.
What Is Long-Term Care?
Long-term care encompasses a broad spectrum of services and supports necessary for an individual’s personal care needs. The care involves day-to-day help needed by people with illnesses that endure over time. These illnesses tend to be chronic, physical infirmity, or cognitive disability — reducing the individual’s capacity to care for themselves. Long-term care is usually non-medical care that helps with a person’s Activities of Daily Living (ADLs) such as:
- Personal hygiene (bathing/showering, grooming, nail care, and oral care)
- Dressing (the ability to make appropriate clothing decisions and physically dressing or undressing)
- Eating (the ability to feed oneself, not necessarily including the capability of preparing food)
- Maintaining continence (proper use of the restroom)
- Managing a home
- Managing medication
For more information on long-term care strategies, click Read More for the full article.
Estate Planning Resources
Your Medical Directive
Any complete estate plan should include a medical directive, which can encompass a number of different documents. The exact document or documents will depend on your state’s laws and the choices you make…
The Top Eight Mistakes People Make With Medicaid
Medicaid planning can be a difficult and confusing process. Getting assistance from a qualified attorney will help you avoid these common mistakes…
Annual Long-Term Care Survey Finds Steep Rise in Assisted Living Facility Costs Amid Pandemic
All long-term care costs, particularly assisted living, rose sharply in 2020, according to Genworth’s latest annual Cost of Care Survey. The rises were due in part to increased costs brought on by the coronavirus pandemic…
Also check out…
Amy Boulware to Present in 2021 Demystifying Death and Dying Enrichment Program
Amy Boulware, Chambliss elder care and special needs care manager, will join Welcome Home of Chattanooga and The Chattery for their spring enrichment program, Demystifying Death and Dying. Amy will virtually present, “Getting affairs in order and you can’t make this stuff up!” Click here for more information.
What Do You Need to Know About COVID-19 Variants?
Visit the Hamilton County Health Department’s FAQ page for answers about COVID-19 variants and more. Click here to visit the website.
Coping With COVID-19
Older Adults: Care for Yourself One Small Way Each Day
Source: Center for Disease Control and Prevention
