How to Make Plans for Taking Care of Elderly Relatives
If your parents or other relatives are aging but still independent, this is a good time to plan ahead. The day may come when they will need assistance. Whether you will care for them at home, or they will move to an assisted living facility or a nursing home, the more you can plan now, the easier it will be for everybody later on.
Talk to Your Relatives
It may be difficult to talk to your relatives about what will happen if they need assistance in the future, but it’s an important conversation to have. You should talk about the different options that are available and find out what they would prefer.
You need to find out whether your relatives have the resources to cover the expenses of their future care. If they do, you need to find out how to access those resources if your relatives become unable to do so. If their resources aren’t enough to cover all their future needs, you should make alternate plans now.
Long-Term Health Insurance
Purchasing long-term health insurance can provide peace of mind to you and to your relatives. The sooner you can do it, the better. Premiums get more expensive when people get older. If your relatives cannot afford the premiums, consider splitting the cost with other family members.
Paying for Nursing Home Care When Your Relatives Don’t Have Long-Term Health Insurance
If you don’t plan to purchase long-term health insurance, and if your relatives don’t have enough other resources to pay for nursing home care, then you need to look into whether Medicaid will work for them. To qualify for Medicaid, your relative’s income and assets must be under certain amounts, which vary state to state.
Powers of Attorney
Talk to your relatives about creating powers of attorney. There are two types: a health care power of attorney and financial power of attorney. When creating these documents, your relatives name someone who will be allowed to make decisions for them if they become unable to make the decisions themselves.
Know the Signs of Elder Abuse
When your relatives get older, they will, unfortunately, become more vulnerable to elder abuse. Prepare yourself by learning the warning signs. If you ever suspect a relative is being abused, you should talk to an elder abuse lawyer. Call Garcia & Artigliere at (800) 328-2630 to find out how we can help.