Unexpected health changes that require long-term care can occur at any age, though the likelihood increases with age. Someone turning age 65 today has a 70% chance of needing long-term care services and supports as they grow older, according to the U.S. Administration on Aging.
I’m sure you know someone who has assisted an aging parent navigate a health challenge. It was likely a stressful situation because their parents had not made plans for long-term care, refused help, and left their adult children to pick up the pieces during a crisis.
This scenario is all too common and why long-term care planning is essential, so your family is not burdened by your potential health, memory, or mobility changes.
Now is the perfect time to make sure you are well set for the future. Planning doesn’t have to be onerous; it will bring peace of mind and allow you to focus on what matters most.
If you don’t have children or other family members to step in if something unexpected happens with your health, planning is even more essential.
These five steps will set you up to avoid a crisis:
Meet with your attorney. Estate planning documents (will, power of attorney for finances, power of attorney for health, and advanced directives) become essential in a health crisis. Without these, your family or key decision makers are unable to act on your behalf to make important health decisions and to ensure your finances remain in order.
Meet with your financial advisor. Knowing how much money you will be able to spend on long-term care expenses will be essential for anyone needing to arrange caregivers or identify a retirement community on your behalf.
Prevent falls. According to the CDC, in the United States, about one in four adults (28%) age 65 and older, report falling each year. This results in about 36 million falls each year. While not all falls result in an injury, about 37% of those who fall reported an injury that required medical treatment or restricted their activity for at least one day, resulting in an estimated 8 million fall injuries.
The best way to ensure your independence while you age is to focus on fall prevention. This includes keeping your body strong, having good balance, and removing fall hazards within your home. This includes any trip hazards such as loose rugs, removing items in your walking path around your home, ensuring all stairs have handrails, and avoid carrying items in both hands when navigating stairs. For more information, read Falls Prevention: It’s a Team Effort.
Decide what you want. Take time to think about what you would want if you needed extra help. Do you want to stay in your home, or do you prefer to downsize? If you prefer to remain at home, does your home require modifications? What if your spouse or partner isn’t able or open to being your caregiver? What help is available if you do stay home? If your plan is to eventually move into a retirement community, do you understand your options and what to be looking for? How will you know when it’s time to move? If you are single or do not have children, who will be available to ensure you have the right care?
Knowing what you want ahead of time will help those you’ve engaged to make decisions on your behalf. If you’re unsure of how to proceed or choose what will work best for your situation, consult with an Aging Life Care Professional (AKA Care Manager). Our expertise and knowledge in these areas can provide the tools and assistance to live a safe, supported, and healthy future.
Engage your family. Bring your family together to share your plans so they can ensure your wishes are followed. Make sure your professional support team (attorney, financial advisor, primary care physician, and Aging Life Care professional) also know your plans. If you are single or do not have children, it is important to start building your safety net.
I challenge you to complete this before the end of the year. Taking these steps and engaging the support of key professionals as well as family and friends will go a long way to provide peace of mind, thoughtful conversations, and a supported future.
You are not in this alone! Aging Wisdom is here to help. Click here to schedule a get-acquainted call to start long-range planning with a Certified Care Manager.
