Did you know that more than 130 million Americans are living with chronic illness, a quarter of which are between the ages of 65 and 74?
Unfortunately, chronic illness is more common than many think, and can affect any of us at any time. As unexpected and overwhelming a chronic illness diagnosis can be, it is imperative to begin, or modify, your planning process to account for the safety and protection of your loved one. To help get you started, let us share with you a few tips when it comes to planning for loved ones with chronic conditions.
First, we encourage you to learn all you can about your loved one’s chronic illness.
Take some time to research the condition, including the symptoms your loved one may present and the challenges he or she may face as a result of the condition. You may also wish to research treatment plans as well as ways to make your loved one more comfortable as the condition progresses.
Once you have a better understanding of your loved one’s chronic condition, the next step is to review any planning he or she has already completed. We encourage you to evaluate whether his or her current estate plan accounts for this type of unexpected situation, including any long-term care plans. Some important components to look out for include your loved one’s health care coverage, insurance, and whether he or she has a durable power of attorney.
When both you and your loved one feel ready, you may find peace of mind speaking with an experienced estate planning attorney to help guide you through this challenging time. Further, an estate planning attorney can advise you on the steps you could take to plan for a loved one with a chronic condition and account for his or her specific needs.
We encourage you to ask us your questions about this important topic. We know that this article may raise more questions than it answers and we want you to have the support you and your aging loved ones need. Do not hesitate to reach out to our office and schedule a meeting on this issue or any elder care concerns.