What You Might Not Know About Long Term Care & Estate Planning

You’ve heard things about long term care and estate planning, and it probably strikes panic in you. Your worry takes over and you procrastinate the inevitable. We get it, but want to let you in on a little secret — the first step is easier than you think. 

Understanding the what and why behind long term care and estate planning is the beginning of the journey, and we have the first step right here. So if you’re ready, let’s get started!

What is long term care?

If the time ever comes when you have trouble with everyday things, like getting dressed or going to the bathroom, you may need outside help. Assisted living communities and nursing homes provide long term care to help elderly people live comfortable and happy lives. Nearly half of us will require long term care in our lifetime, and we can find solace in knowing there’s a safety net as we age. 

Why (and when) do you need to plan for it?

Although long term care is a reality for many people, the expenses can often be underestimated. Many long term care services are outside of the scope that Medicare provides for and with escalating costs, planning for residence in an assisted living community or nursing home is more important than ever. The best time to plan for your future is now — when you’re still able to make important decisions and take the time to learn about your options and costs. While you’re at it, you can get your affairs in order too with estate planning. 

What is estate planning?

It’s really uncomfortable to think about dying, but we must acknowledge it’s a part of this beautiful life we’ve been given. Estate planning ensures that once you pass away, you leave the legacy you’ve dreamed of for your family. This legacy is carried out through documents such as wills, trusts, or powers of attorney. Estate planning provides peace of mind and security for your future. 

Why is it important?

You’ve left your mark with your work, property, business, and investments and you should call the shots for the preservation and distribution of these assets. If you don’t take care of your affairs ahead of time, the government will dictate what happens if you become incapacitated or pass away. Estate planning gives you the legal authority to make important decisions while you’re still able. 

What to do next?

Now that you have the what and why of long term care and estate planning under your belt, you’re probably wondering: how? The good news is, the second step is also easier than you think. At the Law Office of Phillip T. Wylkan, we offer free estate planning workshops to get you started on formal preparation. 

• Choose your workshop
• Attend the event
• Leave with clarity

It’s really that simple! You’ll even have the opportunity to schedule a free consultation with Attorney Wylkan to get personal guidance on your unique situation. You don’t have to travel the journey alone. Register for an estate planning workshop today!