The financial and emotional implications of becoming disabled can have a profound effect on one’s family. It is difficult enough to see a loved one decline, but when you combine that with wondering if you can afford to get them the care they need things can become overwhelming and even more stressful, when there is no long-term care plan in place.
Since none of us can be certain this won’t happen to us, it is of utmost importance that we plan ahead, as one of the most overlooked aspects of long term care planning is the failure to account for the risk that we will not be able to act for ourselves.
“Planning ahead” in this context means having the necessary estate planning documents in place that provide our trusted loved ones with the ability to assist us with planning when we are unable to do so for ourselves.