Kathryn T. Joseph & Associates, Inc.
216-245-0504

Long-term care planning for senior citizens

Planning for long-term care is an important consideration for aging Ohio residents. It is a good idea for adults who are approaching retirement to have a conversation with their children about their plans for retirement and what should happen in the event of a serious illness. This conversation should include financial planning, estate planning and who should make important decisions about the senior citizen's long-term care.

Most people want to enjoy retirement in their current home. It is important to discuss whether changes may be necessary in the future. The structure of the home can impact an elderly adult's ability to live safely and comfortably in the home. In some cases, minor changes to areas like the kitchen and bathroom can make living at home practical while some aging adults may decide to move into a home that is more suitable for their needs.

It is also important for senior citizens to have a formal plan regarding finances. Careful planning can help avoid tax liability and ensure that aging adults have enough income to live comfortably. Long-term care insurance and liquidation of home equity are just a couple options for aging adults to consider when creating a formal long-term care plan with their families.

An important part of the process of long-term care planning is consulting with an attorney experienced in elder law. An elder law attorney may be able to help families create an estate plan and find ways to protect assets if long-term care in a facility becomes necessary.

An elder law attorney may also be able to help spouses who remain at home keep important assets if the other spouse needs residential care. For example, to qualify for Medicare, an attorney may be able to help families with application paperwork and advise them about which assets are exempt from qualification in the event that they need to spend some of their retirement savings to qualify for long-term care coverage.

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Kathryn T. Joseph & Associates, Inc.
Executive Commons West
29425 Chagrin Blvd.
Suite 305
Cleveland, OH 44122

Toll Free: 888-335-6650
Phone: 216-245-0504
Fax: 216-765-8817
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