What You Should Know About Long-Term Care

Research shows that roughly 1 in 7 adults aged 65 or older will need long-term care at some point in their later years. Meanwhile, tens of millions of Baby Boomers in the United States are growing older and living longer. It seems inevitable, then, that the future of long-term care will be undergoing significant changes.

The challenges of providing quality care to an ever-larger senior population are numerous. Policy changes, investments in the health care workforce, technological advancements, and more may all be necessary. To ensure you have a plan in place for your care, it is more important than ever that you connect with an experienced elder law attorney sooner rather than later. Continue reading to understand why attorneys in this legal area are especially suited to assist you.

Challenges Facing Long-Term Care

• Aging Population – Projections show that, by 2050, the number of Americans aged 65 or older will reach 82 million.
• Increasing Demand – With a growing number of older adults, the need for more long-term care options is greater than ever.
• Strained Workforce – There is a shortage of health care workers, from caregivers to nurses and physicians, that may get worse still.
• Cost – Most long-term care options are expensive. For many seniors, Medicaid serves as the primary payer for long-term care.
• Shift to Home-Based Care – More older adults prefer to receive in home care which requires greater advancements in technology and telehealth to facilitate these kinds of care options.
• Community-Based Services – Services such as transportation assistance, meal delivery, and social engagement will all need to expand.
• Policy and Regulatory Changes – Lawmakers need to act on initiatives supporting long-term care reform including expanding insurance coverage options, increasing workforce training and support, and implementing quality standards.
• Caregiver Support – Recognition and support of family caregivers is essential, including providing resources, and financial assistance.
• Declining Birth Rate – Fewer younger people are entering the U.S. workforce and paying into the tax system.

4 Ways That Zacharia Brown Elder Law Attorneys Can Help You Plan for Long-Term Care

Elder law attorneys understand the challenges of long-term care planning amidst the shifting care environment. Evaluating costs and developing strategies to pay for long-term care before you actually need it is crucial.

Some planning strategies that we can help with include:

1. Protecting Assets

To protect against long-term care costs depleting your assets, an elder law attorney can use various legal tools to help preserve your wealth. This may include creating trusts or transferring assets so that you can qualify for government assistance programs like Medicaid.

2. Executing Advance Financial and Health Care Directives

Long-term care often involves planning ahead for important health care and financial decisions, too. Your directives should include essential documents such as durable financial and health care powers of attorney and living will.

3. Securing Guardianship

When an individual can no longer make decisions for themselves, an elder law attorney can help initiate guardianship proceedings.

4. Securing Medicaid or Veterans Benefits

If your loved one requires long term care and/or you or a spouse is a military veteran, an experienced elder law attorney can help you to explore and access available benefits to assist with long-term care needs.

The experienced attorneys at Zacharia Brown understand the specific laws and regulations in this area and have the knowledge to provide you with personalized advice based on your unique circumstances.

Proper planning will protect your interests and the sooner you develop a comprehensive long-term care strategy, the better your chance of receiving quality care while protecting your assets.