Are You Ready to Pay a Nursing Home $100,000 A Year?

If you’re anything like our clients, the answer is an emphatic no. But, the cost of long-term care is just one of the issues seniors are forced to confront as they age. Indeed, our clients frequently tell us that they want to gracefully age in place, not become a burden on their children, and live out their golden years on their own terms. The instinct to retain control over one’s life, finances and health care is certainly fundamental and important for all of us. Unfortunately, though, without proper planning, aging and living life in the manner most seniors want, is probably not going to happen.
There are a number of reasons senior’s goals become frustrated as they age. Perhaps the most crucial issue involves housing however. That is, most seniors don’t like the idea of moving out of their home. But as seniors age, it’s often impossible to remain at home because seniors generally need an elevated level of care. Incidentally, this is when loved ones usually step in to try and help in various ways. But what they soon figure out is that the long-term care “system” is fragmented, disjointed and inefficient. Unfortunately, the hodgepodge of benefits available through Medicare, Medi-Cal and social security are not enough to address the many and varied financial, medical and psychosocial needs of our ever-aging population.
Paradoxically, what we consistently find is that most families believe if they have a good estate plan and are covered by Medicare as well as social security, that they have nothing to worry about. But that simply isn’t true. Most estate plans – while great for avoiding probate – do nothing to help seniors live where they want, without spending their life savings. Similarly, Medicare only covers a few days of nursing care, while social security barely pays for necessities. Despite all this, most assisted living, residential care facilities and nursing homes are virtually full. Clearly, there is a disconnect happening between what people want and what they get. Fortunately, for seniors to live in the manner they want, without outliving their money, they simply need to create a fluid estate and elder law plan. That’s where we come in. At Kaiden Elder Law Group, we help seniors get the best medical care possible, we help them stretch out their resources so that they can age gracefully, and when life throws them a curve ball, we tirelessly advocate on their behalf.
To ensure peace of mind for you and your loved ones, contact Randall F. Kaiden, Esq., at Kaiden Elder Law Group, at 661-247-8433, or via our website: www.kaidenelderlaw.com.