Elder Law Attorney in Savannah, Georgia

Why do I need to plan for long-term care?

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[Music]
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why does a person need to plan for
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long-term care it’s a great question
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a lot of people don’t think about it
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again it’s a question that
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is a little uncomfortable to think about
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what if i need more care than i need
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right now when i
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get a little older what if i need
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in-home care what if i need assisted
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living what if i need nursing home care
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what i can tell you is that right now
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the average cost of a nursing home stay
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in the state of georgia is almost 7
00:29
000 a month and that amount is only
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going up we’re not seeing that number
00:33
going down
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so no matter when you are watching this
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video you can imagine
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that the cost of care is only going up
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and it’s going up faster
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than the pace of inflation so that kind
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of a cost for almost
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any family unless you’re incredibly
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wealthy is a very difficult burden to
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carry
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but with the right kind of planning we
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can take advantage of certain public
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programs that are available
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that are specifically designed to help a
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family cover those costs
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while protecting the well spouse the
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spouse who doesn’t need nursing home
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care
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or to protect the kids and the legacy
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that a family has worked so hard to put
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together
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over a long time we see people come into
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us all the time and their chief concern
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is we’ve worked very hard all our lives
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we’ve been thrifty
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we’ve been prudent we’ve put aside a
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nest egg we’re not multi-millionaires
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but we have a nice nest egg
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and it’s important to us that that be a
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legacy for our children and for our
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grandchildren
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and what happens if i need to go in into
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a nursing home
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am i going to need to use all of that
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money to pay for my care
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and basically destroy the legacy that
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i’ve worked so hard to put together
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so the right kind of elder law planning
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the right kind of long-term care
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planning
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can take care of those needs and address
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all those concerns
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and the best time to do it is before you
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have the need
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a lot of people come to us for crisis
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planning that means they come
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and it’s the adult children who sit down
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and they say mom fell she’s in a nursing
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home and right now we need her to be in
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a nursing home for long term
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there are things we can do in a crisis
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planning situation but if that same
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family comes to us three years prior and
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says
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we’re starting to see some things with
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mom that make us think she might need
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more care in a few years
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it opens up a whole other world of
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possibilities and flexible planning that
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we can do to protect a lot more of the
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assets
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and make things a lot more comfortable
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to make sure mom gets the care that she
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[Music]
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needs

Savannah, GA estates planning & probate lawyer Richard Barid explains why it’s so important to plan for long-term care.

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