ElderLaw News — The Estate Planning & Elder Law Firm, P.C. — MD, VA, DC
ElderLaw News

ElderLaw News is a weekly e-newsletter that brings you reports of legal developments and other trends of vital interest to seniors and their advocates. This newsletter is brought to you by The Estate Planning & Elder Law Firm, P.C., William S. Fralin, Esq., President., William S. Fralin, Esq., President.

Denial About Aging

It’s probably not a surprise that many people in America are in denial about aging, and therefore, that they are unprepared for the costs of "long-term care" long-term care when a serious, long-term illness strikes.

In fact, a new study reports that 2/3 of people over 40 say they have done little to nothing about long-term health care planning; 3 in 10 say they don’t even like to think about the subject. Many people have the ostrich head-in-the-sand theory of getting old; just hide, and maybe it won’t get you. What is more surprising about this group of people over 40 is that more than half have already had to function as caregivers for older relatives. Yet, somehow, they still think getting “old” won’t happen to them. Or they think that their own offspring or other younger relatives will step up to the task when they become infirm.

Susan Reinhard of the AARP’s Public Policy Institute recommends that if you are planning to have relatives assume your care, you should have that discussion with them ahead of time. They may be comfortable about taking you to doctor appointments and grocery shopping, but more than that, they may not be in a position to do. Be assured that you will need some type of help as you age. According to government records, 7 of 10 people will need some type of long-term care, at least at some point, over age 65. The average period of care is 3 years. However, that is just an average and averages can be misleading.

There is also a lot of misinformation about what is covered by "Medicare" Medicare. 37% of those over 40 believe that Medicare will cover long-term care, which it does not. Medicare covers some assistance by home health aides, but that is only under certain conditions. Medicaid can pay for long-term care, but only after most of the individual’s assets have been depleted or carefully structured. So the best advice is to begin early to plan for old age. Seek the advice of an elder law attorney who is an expert in this area.

(Source = http://www.washingtonpost.com/politics/aging-america-poll-finds-people-in-denial-about-need-for-long-term-care-as-we-get-old, 5-2-2013)

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The Estate Planning & Elder Law Firm, P.C. is an elder law firm. We represent older persons, disabled persons, their families, and their advocates. The practice of elder law includes estate planning, estate and trust administration, powers of attorney, advance medical directives, titling of assets and designations of beneficiaries, guardianships, conservatorships, and public entitlements such as Medicaid, Medicare, Social Security, and SSI, disability planning, income tax planning and preparation, care management, and fiduciary services. For more information about The Estate Planning & Elder Law Firm, P.C., please visit our website at http://www.chroniccareadvocacy.com.

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