News

Reasons to Participate in Long-Term Care Planning

  • May 14 2018

Long-term care is a range of supports and services that an individual may require to meet his or her personal care needs, including medical care and assistance with activities of daily living. Approximately 70% of people over the age of 65 require some type of long-term care during their lives. Therefore, it is important for everyone in this age range to participate in long-term care planning. Below are some additional reasons that everyone should engage in long-term care planning:

Life extension – People over the age of 85 are the fastest growing age group in the country. And the older one is, the more likely he or she is to need long-term care. In addition, improvements in medical science have lowered incidents of early sudden death—the result being an older population with impaired health who need long-term care.
Dementia risk – Nearly half of everyone over the age of 85 has dementia or Alzheimer’s disease. Both conditions typically require some form of long-term care.
Obesity – Obesity is on the rise all over the world, and it is a major contributor to poor health and disability in the elderly. It has been estimated that rising obesity rates will increase nursing home enrollments drastically over the next several decades.
Lower birthrates and smaller families – People today are having fewer children. This fact, combined with an increasing number of single-person households and a growing elderly population, will eventually result in a situation where the number of people needing care outnumbers available family caregivers.
Relocation – In today’s transient society, children often move far away from their parents upon reaching adulthood, and the elderly typically relocate after retirement. This makes it impossible or difficult for children to provide long-term care for their parents without a plan in place.
Insufficient government resources – With a growing elderly population, government programs are being stretched exceedingly thin in the area of long-term care services, and they will experience even greater stress in the future.
Lack of government solutions – The issue of how to provide effective long-term care is a major concern of industrialized countries all over the world. However, very few countries have taken the initiative to address this problem.
Present health doesn’t ensure future health – Many healthy people in their 50s and 60s tend to forgo long-term care planning. Unfortunately, however, present health doesn’t ensure future health. Therefore, it is important for even healthy individuals to engage in long-term care planning.

New York Attorneys

Before beginning the long-term care planning process, we highly recommend that you consult with an experienced New York elder law attorney to determine the option most suitable for you. An experienced New York elder law attorney will provide you with detailed legal guidance regarding long-term care based on your unique circumstances. In order to begin the long-term care planning process, please contact us for a free consultation.


Posted in: Estate Administration, L.I.F.E. Group Blog

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