Long Term Care refers to a wide range of medical, personal and social services for individuals who are unable to provide for their own needs for an extended period of time. This need for care from others may be caused by age, accident, illness, dementia, stroke, depression or frailty.Long Term Care Planning, on the other hand, is the process of preparing for and funding long term care.Personal needs may include assistance with activities of daily living to help move about, dress, bathe, eat, maintain hygiene, toilet, or help with incidental daily living activities like household cleaning, meal preparation, shopping, paying bills, visiting the doctor, and taking medications. In other cases, long-term care may consist of providing supervision to avoid injury or wandering, companionship, or support and respite for a caregiver.How Expensive Can Long Term Care be?Long term care costs can be substantial. US median rates for nursing homes are close to $210/day, while assisted living median rates hover around $115/day. The average hourly cost of home care is $20. genworth.com/costofcareInformal Caregiving, provided by family and friends, can carry significant costs as well. These costs are almost entirely shouldered by the child(ren) of the aging parent. For more on this, see Caring for a Loved One at Home Can Be Challenging.Long Term Care Can Be the Greatest Crisis Seniors Will FaceUnfortunately, there is an abysmal lack of planning for long term care in our country. A survey, conducted by the John Hancock Insurance Company, reveals most seniors acknowledge the need for planning but very few actually make preparations for long term care. The study found over 50 percent of the respondents worry about paying for long term care but almost 70 percent of respondents said they had done little to no planning for their long term care needs.All gaining individuals, regardless of current health, should have a plan in place. Long term care can be the greatest crisis an older person faces. With the need for care, the aged lose their grasp on the three most important lifestyle concerns of the elderly.Remaining independentHaving enough moneyMaintaining good healthAll of this can disappear with the need for long term care. The costs of care can wipe out a lifetime of savings and destroy equity in a home and poor care planning can lead the elderly into serious withdrawal and sadness.Here is a brief outline of ways to create a long-term care plan:Prepare General Planning Documents and Instructions for Decision MakingThese documents and instructions might include requests pertaining to care preferences, wishes pertaining to end-of-life scenarios, wants concerning preferred medical treatments, a list of health care providers, desires for disposition of property and instructions to a potential care advocate or representative. These documents and instructions can be formalized into legal documents by an elder law attorney.Determining a Care Advocate in AdvanceA Care Advocate or Personal Care Representative will represent the interests of a loved one receiving or preparing to receive long term care. This care advocate plays an important role in making caregiving decisions, arranging funding for services, and coordinating care. This person could also be given responsibility by power of attorney or guardianship. A care advocate could be a spouse or child, a caregiver, a friend, a trusted adviser, or even a certified care manager.Planning for End-Of-LifeEnd-of-life planning can include preplanning a funeral and burial, preplanning final arrangements, expressing wishes for a place to die, and giving information and instructions for advanced planning documents. We recommend using a Funeral Pre-Planning Advisor to assist in these matters.Preparing Legal Documents and End-Of-Life ArrangementsThese items might include estate planning documents, advanced directives, wills, trusts, and various powers of attorney. We recommend using an elder-law attorney or an estate planner to assist in these matters.Providing Financial Information for Future Care CostsThis planning would provide the family with a list of assets, income, a savings plan, and insurance plans. Particular funding strategies for long-term care services and asset preservation can also be discussed and planned for. This might include Medicaid or Veterans Benefits.Make Your Wishes KnownThis final step is important. No plan has meaning unless those who will be involved in making the decisions are aware of it. We encourage you to provide copies of the long term care plan to all that may be involved, even if the involvement may seem inconsequential. These directions will allow the family, caregiver and possibly the care advocate to make informed decisions based on the wishes and instructions made in the plan. This will save these individuals a great deal of time, heartache, stress and money as they implement the care plan.
What about those greedy relatives?Remember the Baudelaire children from our previous Legal Brief about Lemony Snickets A Series of Unfortunate Events? Lets look at another way parents with children of any age can protect their legacy.In Lemony Snickets tale the Baudelaire children are left with a significant family fortune when their parents die. Their uncle hopes to gain access to this vast fortune by taking in the children. When that does not work he tries to marry Violet, the oldest daughter, so he can access the family wealth. Hopefully your relatives are not awful like Count Olaf; yet, sometimes you only find out who people truly are after someone passes away. So, what is the estate planning remedy for greedy relatives or even your childs questionable spouse?Trust planning.Trust planning ensures your family fortune, no matter the amount, stays with your children; not in the hands of a greedy relative, in-law, creditor, or even used in an unintended manner by your children.There are many ways to write trusts to ensure your wishes are met. The general starting point for trust planning is a revocable living trust. When properly funded, this type of trust allows trust assets to pass directly to beneficiaries bypassing the probate process. Bypassing probate also keeps your wishes private. Additionally, if a surviving spouse remarries a revocable living trust can be built to keep existing family assets within the family. The surviving spouse can access assets but when they pass away trust assets continue down to your children and grandchildren instead of going to an unintended beneficiary.More specific concerns?Maybe you have a child with a disability? Consider a special needs trust. A special needs trust prevents a large lump sum from an inheritance going directly to a beneficiary. Instead, a trustee manages the trust and assets. Money is given on an as needed basis for anything not provided through other benefits or programs. This can be especially useful when needs based programming covers only the minimum services. This specialized trust allows you to protect and provide for your loved ones with special needs and circumstances when you are no longer able to do so, while still allowing them to maintain their other benefits.Is one of your children caught up in drugs or debt? Consider a heritage trust. A heritage trust could help in Violets situation with her uncle or if some other gold-digger comes along and tries to marry her for the family fortune. How? Heritage trust planning allows you to name a trustee who can manage trust assets. This person or institution provides the beneficiary with funds for reasonable requests (e.g., housing, education, etc.). The trustee acts as a gatekeeper. Trust assets pass from your child to grandchildren or other beneficiaries. This shelters trust assets, keeping them within your family or named beneficiaries for multiple generations. Trust assets are also protected from creditors, lawsuits, and from spouses or others not directly named as beneficiaries.What exactly is a trustee?Your trustee is the person who manages and distributes trust assets after your passing. As with any decision regarding finances, choose your trustee carefully. Appoint someone to this role who you will take their responsibility seriously. Someone you trust to carry out your wishes and manage trust assets wisely. Allowing assets to grow and benefit your family members for years to come.Remember: trusts do not go through the probate process like a will, so your decisions remain private. Give yourself peace of mind today by taking care of your estate planning with Stone Law! Make your guardianship wishes known in your will and put together trust planning to ensure your assets go where you want them to.
Quite a few seniors struggle with health challenges post-retirement. In addition to run-of-the-mill aches and pains, many develop chronic health conditions like diabetes. It doesnt help that it takes a significant amount of extra work to be fit when youre older its easier to just sit on the couch and watch TV! Being in poor shape makes it hard to have a happy, rewarding life. If youd like to improve the quality of your life, you must take control of your health. Good health gives you the energy you need to pursue fun activities and, generally, lead the life youve always wanted. Following are some practical suggestions on how seniors can take control of their health for a better quality of life: Exercise more Exercise offers incredible benefits. As Everyday Health can confirm, exercisemakes you happierreduces stressmakes you look youngerreduces risk of diseases and strokehelps you digest food betterimproves your quality of sleepYou dont need to exercise hard to enjoy these benefits either. Try low-key activities like walking, gardening, cycling, and playing golf! Do whatever you enjoy and youll do more simply because you are having fun.Maintain a beautiful living space Your living space has a massive impact on your mood and overall health. Living in a dirty or cluttered home may increase stress and unhappiness, not to mention make it harder for you to look after yourself. On the other hand, living in a well-maintained space is good for your mental wellbeing and makes it easier to look after yourself. If your home needs work, you can clean, declutter, and redecorate. Downsizing for easier maintenance is also an option. Start an enjoyable hobby Hobbies are much more than fun pastimes they can teach you things, bust stress, keep your brain in top shape, and some can even be great exercise. Everydays offers 40 hobby ideas for seniors. Some interesting options include bird watching, metal detecting, dancing, getting a pet, photography, fishing, volunteering, and bicycling. Find some that interest you and a group for some companionship.Eat better They say you are what you eat and theyre not wrong! According to Harvard Business Review, food fuels your body and also impacts your mood. Switching to healthier foods ones high in protein, vitamins, calcium, minerals, and dietary fibers can go a long way toward keeping you in good shape. Some examples of foods you may want to consider adding into the mix include oatmeal, nuts, mushrooms, kiwis, and greek yogurt. Stay connected to your family and community Humans are highly social creatures needing a significant amount of social interaction to remain healthy. Spending time with your family and members of your community, whenever you can, is a great way to tune up your mental and emotional health. There are several ways to get the socialization you need joining senior groups, finding a hobby, volunteering, playing group sports, taking classes, participating in family activities, and more. Organize your lifeA well-organized life can help you feel emotionally secure and stable. This involves several things having a financial plan for the future, having chronic health conditions (if applicable) under control, and having a healthy routine to follow. Estate planning and making a will are also things you should look into knowing your affairs are in order and your loved ones taken care of can give you peace of mind. You can reach out to Stone Law for convenient estate planning. Starting a business to stay busy Many seniors start their own businesses these days. It keeps them busy, makes for a constructive way to pass the time, and can be very fulfilling. If youre interested in starting a business, its a good idea to know what youre getting into. When you have an idea, think about how youll get started, and how youll operate. Writing a business plan can help you stay organized. Once you have a plan, check with an attorney at Stone Law to ensure you get everything set up correctly from the start. One of the most common ways to set up a business is by registering as an Limited Liability Company (LLC). An LLC limits your personal liability as business assets are separate from personal assets. If your business is ever sued, only business assets are at stake. Other benefits include easier paperwork and organizational flexibility. While you can file the paperwork yourself, getting help from Stone Law you can be confident your business is set up correctly with all the proper paperwork in place from the beginning. You can rest assured that we know all the legal ins and outs of setting up an LLC or other business so you dont have to worry.Good health is your ticket to a happy, rewarding life post-retirement. When youre in good mental and physical shape, you have the enthusiasm and the energy you need to live life to the fullest. Following a self-care schedule, staying connected to loved ones, and staying busy can all help you remain in top shape.
Fort Collins Village offers senior housing with services, along with and health and wellness programs. Also, Assisted Living, long-term Skilled Nursing Care, and short-term Post-Acute Rehabilitation services & therapies are all offered in the same building if care needs change. The Good Samaritan Society is a not-for-profit, faith-based community that welcomes people of all faiths and backgrounds.Good Samaritan Society Fort Collins Village is nestled in the foothills of the majestic Rocky Mountains. We are committed to providing an unprecedented level of quality service, compassionate care and range of amenities to ensure our residents enjoy a care-free, fulfilling lifestyle that is tailored to their needs.Our friendly, professional staff is dedicated to enhancing your life, bringing you joy and creating opportunities that care for your whole person - body, mind and spirit.
Established in 1973, the Fort Collins Village has been dedicated to serving seniors for 45 years, providing dignity in care, in living and in spirit. We are a not-for-profit, faith based continuum of care community, offering post-acute rehab, skilled nursing care, assisted living apartments and senior housing with services.Good Samaritan Society Fort Collins Village is nestled in the foothills of the majestic Rocky Mountains. We are committed to providing an unprecedented level of quality service, compassionate care and range of amenities to ensure our residents enjoy a care-free, fulfilling lifestyle that is tailored to their needs.Our friendly, professional staff is dedicated to enhancing your life, bringing you joy and creating opportunities that care for your whole person - body, mind and spirit
Fort Collins Village offers senior housing with services, Assisted Living, long-term Skilled Nursing Care, and short-term Post-Acute Rehabilitation services & therapies - all offered in the same building if care needs change. The Good Samaritan Society is a not-for-profit, faith-based community that welcomes people of all faiths and backgrounds.Good Samaritan Society Fort Collins Village is nestled in the foothills of the majestic Rocky Mountains. We are committed to providing an unprecedented level of quality service, compassionate care and range of amenities to ensure our residents enjoy a care-free, fulfilling lifestyle that is tailored to their needs.Our friendly, professional staff is dedicated to enhancing your life, bringing you joy and creating opportunities that care for your whole person - body, mind and spirit