When people talk about estate planning and what to do in the event a long-term illness is contracted, usually they are talking about “what if” situations. But what do you do when the “what if” becomes your reality? In such situations, you need to plan for both your present and future care needs as well as the usual estate plan concerns involving the preservation and distribution of assets. If you were wondering what factors should be accounted for in a life care plan, take a look at the following paragraphs:
What you should strive to accomplish with a life care plan?
Generally speaking, you should design and implement a life care plan that accomplishes three primary objectives. First, you want a plan that takes into account the appropriate care necessary for your loved one’s condition, be it one that requires a full-service facility or just a home-healthcare aide, and ensures that this care is available to him or her. Second, you want a plan that will not only help you to pay for the long-term care of your loved one, but that solves the asset-depletion problems that commonly occur from the receipt of long-term care. Third, you want a plan that sets your mind at ease; few things are worse than constantly worrying whether a loved one is receiving proper care.
What services are ideal from a life care plan provider?
Ideally, a life care plan provider will include legal services, advocacy services, and care coordination services that are designed with your loved ones care and quality of life as its foremost priority.