Isn’t medical technology amazing? New medications and devices have helped extend life expectancies significantly, allowing us to care for our aging parents and grandparents for years to come. Yet for many people, a discussion of our family member’s wishes or planning for our long-term care (LTC) doesn’t happen until it’s an emergency. Long-term care of a loved one can be a life-changing experience, and being prepared is the best way to alleviate stress and financial strain.
“As the need continues to grow—the U.S. government estimates that 70 percent of Americans who reach the age of 65 will require some form of LTC—a disciplined approach to planning for your own longevity needs as well as those of loved ones should be a priority, not an option,” says Steve Sperka, vice president of long-term care at Northwestern Mutual. Despite these staggering numbers, only a third of these people have made preparations for personal LTC. For some reason women are more likely than men to believe they will need extended care, but they’re less likely to make plans. Possibly the biggest concern is that the Sandwich Generation (i.e. people who are in their thirties or forties) are the least prepared for LTC.
No matter how far you get into the conversation about long-term care, you’ll still be further along than those who do nothing. Making your LTC plans in advance is not just better for you but for your family as well. Here at AlerStallings, we assist hundreds of families throughout Ohio with this difficult process. So whether you’re already providing long-term care to a loved one or you’re planning for your own long-term care in the future, contact us or give us a call at 877-912-3464. We have attorneys that are ready to help you and your family today.