"[T]ake steps now."
That is advice that we candidly give at the Andover estate planning Law Offices of Kimberly Butler Rainen to families concerned with future health and related concerns linked to a parent or other aging family member showing signs of dementia or another material life challenge.
Although the delivery of competent and consistent care for a loved one obviously ranks of paramount importance to family members seeking to timely implement sound strategies for family seniors, the cost of care, too, must be candidly acknowledged.
It is high.
We all know that. Moreover, and as stressed in core findings posited in a recently published study focused upon care costs relevant to individuals with Alzheimer's disease or related mental challenges, "the lifetime cost of dementia indicates that families of people living with the disease incur the largest financial burden."
Proven estate administration lawyers routinely see the financial fallout for families trying to balance adequate care delivery and sustained affordability, and often counsel clients to directly face that challenge as early as possible.
The reason for that: There are many sound estate planning strategies that, when employed in a timely manner rather in tardy fashion, can shield precious family assets and ensure a loved one's continued eligibility for needed care.
We note on our website page addressing long term-care planning strategies that, among other things, our office helps those relying upon our professional advocacy "pursue all possible resources … for nursing home care, including Medicaid and MassHealth."
Proactivity is key for families trying to structure a sensible and affordable outcome for a senior loved one's long-term care. A seasoned estate planning attorney can help promote that objective.