If your elder is still healthy and active, they may think there is no need to further plan, beyond the estate plan they had prepared years ago. However, this is not the same thing as a plan for care and is incomplete without a good deal more.
The best time for Life Care Planning is before an accident, diagnosis or medical crisis that changes your loved one’s way of life and creates the need for care.
Planning early through proactive Limited Life Care Planning offers advantages over waiting until there is a crisis:
• Increases the chances of your loved one aging at home
• Ensures the estate plan is up to date and contains enhanced provisions for incapacity
• Provides you with a roadmap in case your loved one has a sudden health emergency
• Can save substantial money in the future so more funds are available for care when it is needed
• Provides you with advisors who know your loved one, are familiar with health and finances, and can assist without delay in case of emergency
• Enables your family to avoid an asset crisis when your loved one makes the transition to care outside of the home