Are You Ready to Pay A Nursing Home $100,000 A Year?
If you’re like our clients, the answer is no. But actually, 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, 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. Perhaps the most crucial issue is that 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 of the elevated need for care. And the hodgepodge of benefits available through Medicare, Medi-Cal and social security are not enough to address the various financial, medical and psychosocial needs of seniors.
Paradoxically, what we find is that most seniors 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 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 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 engage in elder law planning (not to be confused with estate planning). That’s where we come in. At our firm, we help seniors get the best care possible, 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 your loved ones, contact Randall F. Kaiden, Esq., at Kaiden Elder Law Group, at 661-247-8433, or via our website: www.kaidenelderlaw.com.
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