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Retirement living and long-term care planning may coincide

Finding the best place to live out the golden years of life can be difficult for many Minnesota residents. They may want to find a place near their loved ones, while maintaining the ability to remain as independent as possible. Of course, many individuals likely also want to consider long\-term care planning and how suffering a negative health event could impact their living arrangements.

It is not uncommon for family members to take over the care of an incapacitated loved one, but other options due exist for care. Indeed, parties could choose a retirement community that may offer certain benefits relating to long-term care. A continuing care retirement community could allow individuals the ability to live their independent lives but also have the means of obtaining necessary care.

This type of retirement community may allow individuals who do not have long-term care insurance to gain some peace of mind. Outside parties can provide care, and residents would not have to feel as if they are a burden on their family. Of course, most people who move into this type of community are approximately 80 years old, and therefore, younger parties may wish to also explore other options.

It makes sense to start long-term care planning well before they think they may need such care. By having a plan in place, Minnesota residents and their families may be less likely to be blindsided by unexpected expenses and care decisions. Interested individuals can confer with estate planning attorneys to determine how they could work their care wishes into their plans.

Source: cumberlink.com, "Elder Care: Comparing 55-plus and continuing care retirement communities", June 15, 2017

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Jeffrey P. Scott & Associates

Jeffrey P. Scott & Associates LLC
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