Who Will Care for You When You Cannot Take Care of Yourself?

The population in Massachusetts is aging. The Bay State now has more residents over the age of 60 than under the age of 20. As we age, it becomes increasingly important to plan for the possibility of needing care in our later years. For many of us, this care will come from loved ones who are at-home caregivers. This can be a rewarding experience for both the caregiver and the care recipient, but it comes with challenges and responsibilities.

Why Plan for At-Home Care?

The likelihood of needing care increases as we age. This could be due to physical or cognitive decline, chronic health conditions, or natural aging. When this type of care is required, it is critical to have a plan in place to ensure that the care recipient receives the assistance they need. Without a plan, the burden of care may fall on a single person, such as a spouse or adult child, who may not be able to handle all of the responsibilities alone.

Where to start?

Planning for the future as you age can seem daunting. There are so many concerns: your health care, your housing, your estate… Where is the best place to start? There are three things every responsible adult must have in order to prepare for the inevitability of aging or unexpected illness.

Three must-haves for responsible adults:

• Durable Power of Attorney: A Durable Power of Attorney allows you to appoint someone you trust to make financial and legal decisions on your behalf if you cannot do so yourself.

• Will or Trust: A Will or Trust is essential because it specifies how your assets and property should be distributed after you die.

• Advance Directive: An Advance Directive allows you to specify your medical treatment preferences if you cannot do so yourself.

Long-term insurance: Nice-to-have

Long-term insurance is a type of insurance that helps cover long-term care costs, such as assistance with activities of daily living, in-home care, or nursing home care. Long-term care insurance can help pay for the costs of maintenance and can help preserve your assets and independence. It’s essential to consider long-term care insurance as part of your overall financial plan, especially if you have a higher risk of needing care in the future. It’s smart to select this type of protection if you have the opportunity.

Have the difficult discussions

Even though it can be tough to start talking about your future and end-of-life care, planning for at-home care is an essential aspect of managing aging. By considering who will provide care and taking care of yourself as a caregiver, you can maintain independence and comfort for as long as possible. It is crucial to have open and honest conversations with your loved ones to plan for these situations and seek professional help.

Are you currently caring for someone at home? Mass Care Link can help caregivers access the financial assistance they need. Contact Mass Care Link today to learn more.