When Baby Boomers think about estate planning, they generally consider having a will or a trust but do not plan for disability nor do they consider how to pay for their care if they should become disabled.
According to data obtained in a 2007 survey by the Centers for Disease Control and Prevention, there were 1.46 million home health care patients on any given day in the U.S. While these patients tend to be age 65 and over, not all patients had estate planning documents in place. Nearly half of these patients needed assistance with daily living activities, such as bathing, eating, getting dressed or care for cognitive impairment, such as Alzheimer’s.
The costs of in-home care and long-term care are staggering. Private rooms in nursing homes in Texas average $78,000 per year, while those in Florida cost more than $91,000. Having estate planning documents that address disability and long-term care is important, and Jeffrey B. Bock is an experienced attorney with the necessary knowledge to help you structure these types of plans.
In the event of a disability or necessary long-term care, do not leave your family and loved ones in a financial bind by not having proper estate and disability plan in place. To learn more about how to properly plan for your later years, please call 281-962-8529 in Texas or 561-392-8788 in Florida or request an initial confidential consultation online. When you meet with Jeff, he will review your current estate plans, including discussing long-term planning issues that may arise and how to adequately address those, ensuring that you can make informed decisions about your estate.