Trusts and long-term care planning

Nobody likes to think of their own mortality. Yet, it is an inevitability for us all. Instead of being afraid to confront this reality, Californians should prepare for it. Not only does this allow one to put his or her mind at ease, but it can also help alleviate any concerns possessed by an individual's potential beneficiaries. One way this can be accomplished is by creating trusts that seek to alleviate certain financial needs.

One of these needs is long-term care. There are many long-term care options, some more expensive than others. Although some individuals wind up needing the skilled care of nursing home professionals, others are able, and prefer, to receive health care services at home. Home care can come in many forms, including personal care to help with daily needs such as bathing and grooming; health care to assist with medication and medical equipment; dietary assistance to ensure that an elderly individual receives adequate nutrition; and house care to ensure that an individual's home remains livable.

While home care can allow an individual to maintain some semblance of independence, it can also be quite expensive. Therefore, those who are engaging in estate planning may want to think about long-term care planning not only for themselves, but also for their loved ones. By creating a solid plan, which may include the use of trusts, one may be able to ensure that these needs are met if they become necessary.

How, exactly, one chooses to address this issue depends on the exact circumstances at hand. Some may only want to plan for the bare necessities, while others may want a plan that holistically approaches the long-term care issue. With so many options available, those wishing to create an estate plan should consider discussing their situation with a skilled legal professional who can help them come up with a strategy that meets their needs.

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