When it comes to elder law, basic estate planning, long-term care planning, and life care planning are crucial types of planning that every elder needs to consider. That said, if you are not a lawyer, then it can be difficult to know what is involved with making each of these plans. Many people have some understanding of basic estate planning, but lack awareness of the other two types of plans.
In today’s post, we will explain the essentials of long-term care planning and how it can benefit elders in Silicon Valley. At The Law Offices of Janis A. Carney, our long-term care planning attorneys take a holistic approach to helping the elders in our community plan for the future. Whether you need planning in Saratoga, Palo Alto, Santa Clara, or somewhere else in Silicon Valley, our attorneys can help.
What is Long-Term Care Planning?
Long-term care planning often sounds relatively self-explanatory, but it covers more areas of planning than many people realize. This becomes evident when you begin the process. Long-term care planning requires you to take a comprehensive look at your legal situation, financial circumstances, and your general standing in life.
By evaluating every aspect of the life of an elder, it becomes easier to develop a comprehensive plan for their long-term care. Good long-term care plans include a blueprint for how to handle most contingencies. It is difficult to tell what exactly the future holds for an elder, so it is crucial to be prepared for common or perceivable possibilities.
When you create a long-term plan for an elder, you ensure that they will be taken care of regardless of the type of care they require. A comprehensive long-term care plan will also take into account the public benefits available to elders and make it straightforward for them to secure those benefits. Simply put, a long-term care plan is a way to ensure that elders are legally, financially, and physically cared for throughout their entire lives.
Common Decisions People Face
One of the most difficult aspects of long-term care planning involves all the decisions you must make while creating a long-term care plan. For example, where will you live as you grow older? It is challenging to determine whether your current residence, another residence, or something like assisted living is the best option for you. We will discuss some common decisions people must make while creating a plan, but consider talking with an expert in long-term care planning to ensure that you have made all the crucial decisions necessary to make.
One of the biggest areas to focus on when making a long-term care plan for yourself is your own personal health. Are you healthy? What would you want to happen if you became seriously ill or even disabled? These are significant questions to ask yourself, but they are things that should be answered. You should talk to your doctor about the current state of your health and be certain that you have an idea of the checkups and procedures you will need to be prepared for as you age. By making good decisions about your personal health, you can delay the need to use your long-term care plan.
Two other areas of long-term care planning that you will need to make many decisions about are the financial and legal situations you will face as you age. On the financial side of things, you will need to decide which public benefits you will utilize, when you will retire, how much you need to save for your retirement years, what types of insurance to have, and a few other things. With respect to legal matters, you will need to do some basic estate planning, establish durable power of attorney, create health care directives, determine how to protect your assets, and ensure that your children or grandchildren will not face legal troubles after you pass away. There is certainly a plethora of things to consider when creating a long-term care plan, but thankfully, there are people who can help.
What is a Long-Term Care Planning Attorney?
At this point, it should be rather apparent that long-term care planning can be difficult, especially if you are expected to do it on your own. Between the number of decisions you have to make, the contingencies it is necessary to plan for, the legal planning involved, and the fact that long-term care planning will be new to you, creating a long-term care plan can be daunting. Luckily, you do not need to be discouraged.
A long-term care planning attorney is someone who can help you create a plan. The attorneys at Carney Elder Law are experienced in long-term care planning and all aspects of elder law. Our team can help you ensure that the elders in your life are cared for physically, financially, and legally. We take pride in helping elders secure the benefits they deserve and ensure they receive proper care throughout their lives.
If you would like to learn more about long-term care planning or how to get started on a plan, then feel free to contact The Law Offices of Janis A. Carney. We are a Top Rated Local® law firm in Silicon Valley, and we are here to help you.