Many adult children are now looking to step in and help their elderly loved ones with managing illness or disability. This requires a lot of adjustment, not just on the part of the caregiver but on the part of the person receiving support as well.
A family member who needs support may cause sudden and long-lasting impacts on your family, dealing with the implications of such an illness and what it means for the future as well as adjustments in your career.
In an ideal situation, your loved ones would be able to get care from a nursing home or similar facility. However, with the average cost being extremely high, it could decimate someone’s savings with just one stay of a few months long in such a place. Furthermore, family members are often interested, at least in the beginning, in stepping in to help support your needs.
Caregivers often have very little training when it is a family member stepping in and this highlights why it is so important to explore all possible care options and stipulate a plan for long term care.
Given how many people are likely to suffer long term care challenges in the future, it is beneficial to schedule a consultation directly with an estate planning attorney to make things easier for your loved ones as well as you.