It happens to many of us as we age, there comes a time when we need help with day to day living activities. Often it is help with shopping or tasks around the house.
Hopefully our children live nearby and have the time to come help out. But what if the help needed conflicts with their schedules? Where do we find help, and how will we pay for it?
If you are in your fifties, and planning for retirement, do not forget to investigate long-term care (LTC) insurance. You must get it while still healthy and active with no medical concerns that may lead to care later. Then once help is needed, the insurance pays for this help – and it can be very expensive!
But if you or someone you know needs care now, and assets are such that they cannot pay for it for very long, there are a number of programs that can help in this situation. All is not lost, but there are few places you can go to find out all of the possible solutions to this problem.
At TheLongTermCareGuy.com we have family meetings every day explaining how the needed care can be obtained and how it can be paid for. There are government programs, and private programs that few people know about. This is not a topic your financial planner may be familiar with, nor your attorney. This is all we do and have done for the past 25 years.
When someone you know or care about needs help, tell them you’ve got a “guy”. Everyone has a “guy”. I’m the Long Term Care “Guy”, guiding folks through the various programs that can help and offering solutions few others are even aware of.
The sooner advice is sought, the more options there are. Your home is one of the solutions. Rather than sell your home and move to a care facility, the equity in your home can provide the care you need, where you want it, keeping you at home.
If Medicaid is needed to pay for care, most people are surprised to learn that some assets can be protected for family. Medicaid social workers will not tell you this and most are not even aware of their own rules concerning this.