Long term care planning refers to care which is needed beyond a 5-year window. The Palm Beach long term care planning attorneys at Kitroser, Lewis & Mighdoll understand the importance of providing long term support both for the elderly and for those with special needs.
Any adult aged 18 or older can find themselves in a compromising medical condition which requires lifelong care. In other cases, young families care for special needs children who become special needs adults. The idea that long term care is a subject a young person or young family should put off is misguided. At the very least, younger adults should work with knowledgeable legal counsel to set up healthcare and power of attorney advance directives so family and friends know how to address long term care issues. If you have children, you must plan for what will happen to them in the event of your death or long term disability. This is especially true for minor children, or special needs children. A special needs child may require care and assistance long after you have passed away. A long term care plan outlines your specific wishes.
When a health scare, accident, or other unfortunate event occurs in the life of an elderly person, family and friends struggle to work expediently to create a long term solution to ensure the safety and well-being of the individual. Too often, these events and the planning crisis that ensues are wake-up calls to affected individuals. Even relatively young people should consider what might happen if they can no longer competently care for themselves. If an individual has a incapacity plan in place, this removes a significant amount of stress from both the individual and their family. Aging individuals generally need extra help, which can easily be planned for.
Too many individuals make the false assumption that their family and friends will provide for their long term care in the event of a crisis. While family and friends may respond in the immediate aftermath, providing long term care is complex, time-consuming, and expensive. Most people lack both the medical knowledge to provide adequate care and the legal knowledge to understand how to manage someone else’s long term care, while creating structures to pay for that care. When it comes to special needs family members, many family members are unsure as to how to appropriately provide support for their long term care. Given the complex nature of long term care, this is completely understandable. Still, frustrations and failures may arise if families do not contact experienced legal counsel and create the necessary legal structures to provide for long term care.
There are a variety of ways to support legal structures for long term care. An individual’s estate and retirement plan – whether through retirement account assets or life insurance trusts – can support long term care. Government programs like Medicare, Medicaid, and veterans benefits can help cover costs. Over the past decade, the U.S. has seen a significant rise in the number of special needs children. Similarly, the U.S. population is significantly aging. As a result, the medical industry and medical insurance industry are transitioning resources and coverage from acute care, in-patient models to long-term care models. More than ever, there is an increasing number of assisted living and in-home care options available for individuals needing long term care. But these options are constantly changing, as are family dynamics. Therefore, it is important to establish a long term care plan with your family, friends, and a knowledgeable attorney – and then update that plan on a regular basis. Our attentive estate planning attorneys care about your future and work with you every step of the way as you prepare for your long term care and the natural process of aging.
Premier estate planning attorneys at Kitroser, Lewis & Mighdoll are well-known in Palm Beach and throughout South Florida as highly skilled and resourceful. Contact us today to schedule a free consultation at 561-721-0600 or online.
The North Palm Beach Estate Planning Lawyers of Kitroser, Lewis & Mighdoll, welcome clients from the cities of West Palm Beach, Stuart, Palm Beach Gardens, Palm Beach, Jupiter, Tequesta, Juno Beach, Singer Island, Lake Park, Hobe Sound, Royal Palm Beach, Wellington, Lake Worth, as well as all of Palm Beach County, Martin County and South Florida.
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