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Long-term care planning: Understanding its importance

12/26/2014 | Kaplin Stewart Blog

Estate planning is something that all Pennsylvania residents should make time for. However, you may also be wondering if you need to plan for the possibility that you will need long-term care. Estate planning covers what will happen to your assets and possessions after your death. Long-term care planning, on the other hand, helps you make provisions in case you become incapacitated while you are still living.

According to the U.S. Department of Health and Human Services, approximately 70 percent of people age 65 will need long-term care at some point. While this type of planning is important for everyone, certain factors may increase the possibility of needing long-term care. Age is one of the most important factors. The older a person gets, the more likely it is that he or she will need long-term care. Because the life expectancy pf women is longer, they are more likely to need this type of care than men.

Anyone will a long-term disability or chronic health condition is also at an increased risk of needing long-term care as they get older. It is important to keep in mind that your health often declines as you get older, and it is also possible to have an accident later in life that leads to a disability. Even if you are in good health now, it is important to plan for the unexpected.

Whether you already thinking about long-term care planning or are just becoming familiar with the term, an estate planning attorney can help you better understand your options and get everything set up for the future.

Source:, “The Basics” Dec. 20, 2014