Long term care planning is a scary subject to discuss and inherently comes with a lot of misconceptions and confusion. People sometimes assume that even talking about the idea of long term care means something bad will happen. In truth, however, talking about long-term care openly makes the process so much easier on yourself, your family, and your loved ones. Take some proactive steps ahead of time, and you will have more options and greater peace of mind in the end.
The Price of Long Term Care in Nevada
The price for long term care can range from hundreds of dollars for hourly care, to thousands of dollars or even $10k a month or more, depending on the level of care and the chosen facility. Long term care might be required for someone who suffers from a stroke, a fall, memory decline, etc. To prepare for the financial aspect of long-term care, keep the following tips in mind:
- Put your estate plan in place
- Designate who will act on your behalf in case of incapacitation
- Don’t forget your healthcare directives
- Seek out a good financial advisor who can assist with tax and retirement planning
- Consider asset protection
Long-Term Care Planning with Michaelson Law
We love helping seniors and their families plan for the future so they can have peace of mind and stretch their dollars as long as possible. You plan your whole life for success and happiness, don’t forget to plan that final chapter. Learn more from John Michaelson’s interview with Aging & Awesome. If you like the video, tune into Aging & Awesome for more Estate Planning and Senior Law topics.
If you are interested in learning more about long term care in Nevada, contact the estate planning attorneys at Michaelson Law to help you get that last chapter of your life in place. Call us at 702-731-2333 to schedule a consultation.