We often don’t think about care options until we need them. This is particularly true regarding the care options for our parents. When their health starts to decline and they need help, then care options become important to understand (immediately). Hopefully you will take some time to consider these choices. Understand them, research them more, discuss them with your family and choose the best course of action before you need them. Some of the typical choices are:
Our parents have been at our home for their whole life and expect to continue to be at home for the rest of their life. However, when they experience a sudden health decline and you need to make quick decisions. It sometimes sends the whole family into a panic. At the initial stage of a health decline. The family members make may be able to check in on a declining parent a few times a day to make sure that things are going okay. When health declines even more, it often requires non-medical home care. In our part of the country the cost for non-medical home care is usually around $20 per hour. Most people can handle paying a few hours a week of non-medical home care. But when it gets to the point that many hours are needed, then this can become a financial strain. Non-medical Home Care is usually paid privately, however some care providers accept Medicaid as payment.
Assisted Living Facilites (ALF)
Assisted living facilities provide assistance with residents who need help performing one or more activity of daily living. This is often a good choice for individuals who don’t want to be home alone but prefer socialization with others. Those who need help with one or more activities of daily living, such as dressing, feeding, bathing, toileting, transferring etc. They may find an assisted living facility to be a good fit. Some ALF’s provide a room and meals and very few other activities. However other ALF’s have a full-time activities director and provide many activities in house and off-campus. A resident can choose to participate in any or all of the activities or just stay at home and relax. Most assisted living facilities provides transportation to doctors, local shopping centers and other local venues. Resident and some residents maintain their cars and are free to drive. But most find the facility transportation to be very convenient.
Skilled Care Facilities / Nursing Homes
When a person’s health declines, to the point where they need a skilled level of care. Then a nursing home is a viable option. A nursing home is stuffed with nurses, therapist, and other trained medical personnel that can provide medical assistance needed by a Resident that require a greater level of care. Most people pay for nursing home care out of pocket much longer than necessary. When they spend down to a certain level, Medicaid will pay. To avoid unnecessary spend down, it is critical to meet with an Elder Law Attorney as soon as you see that your Loved One will require a nursing home level of care. Effective planning will help you protect as many of your assets as possible.
These are just a few of the caregiver options, with many variations of each. Whatever type of care you choose, it is important to think this through carefully, look at the finances that you have available, and discuss the choices with your family so as to come up with a plan that will work best for you and any involved family members. If you have a Loved One going to a Nursing Home soon or that is in a Nursing Home now paying out of pocket, consider taking the following two actions:
(1) Watch our webinar on 7 Ways To Pay For Nursing Home Care. In this webinar we primarily discuss how to get your Loved One qualified for Medicaid benefits that will pay their Long-Term Care Nursing Home expenses. Some people spend everything before attempting to qualify for Medicaid. It doesn’t have to be this way!
(2) Give us a call at (501) 843-9014 to set a time for a Free Initial Consultation. We look forward to meeting with you soon!
At ELP, we work to protect you!
We work with people to do various types of estate planning. There is no one size fits all plan and no plan is categorically better than others. The key is to meet with your attorney (hopefully us!) to discuss your unique situation and have a plan crafted that is best for you. If you or your declining parent is not 100% sure of their beneficiary designations, please be proactive and give us a call before you (or they) lose capacity.
Without a properly flexible plan, how will you care for your declining Loved One, be there for your family, get work done, and pivot in the event of a crisis? What about cost? How will you pay for it all? If you make the Assisted Living Facility choice, how long will the money last? Together, we can craft a proactive plan! Lets get started protecting your assets!
If you (or someone you know) are from Arkansas and would benefit from more information like this, click the button below to sign up for our free Arkansas Newsletter by going to https://elp.legal/arknews.
ELP YouTube Channel
Speaking of trends, subscribe to our YouTube Channel. We have a few hundred videos there for your watching enjoyment. Videos are categorized by playlist. You should easily be able to find several videos that discuss exactly what you are looking for. The best part about this is not only is this some really good content, but it is free! There’s even a video specifically addressing Revocable Living Trusts!
Just click here to go to The Elder Law Practice You Tube Channel. Please remember to subscribe! When you click the notification bell, so you will be notified of our latest video launches. If you have video ideas, please type them in the comment box. Thanks for watching!
We have covered some legal topics in this edition and as always, I want to emphasize that (1) the law is different in every state, so if you live in a state other than Arkansas, just know that the law may be totally different in your state; (2) your situation is unique, so one size doesn’t fit all – meaning what we discuss herein may not be right for you; (3) we have purposely over-simplified many of the topics above (otherwise this would be many pages long and unreadable because of all of the legalize). It is imperative that you meet with your attorney (hopefully us!) and get a plan that will work for you. Don’t try to plan based on what you read in this (or any) article AND don’t try to go it alone. Please consider this, get your questions answered and take action.