When should you start long-term care planning with your Millman Law Group attorney?
Long-term care is something many people don’t think about until it becomes an urgent need, but planning early can make all the difference. In Florida, where many residents are retirees or approaching retirement age, long-term care planning is not just a smart idea—it’s essential. At The Millman Law Group, we encourage clients to take a proactive approach to secure the care they may need in the future while protecting their hard-earned assets and ensuring peace of mind for their loved ones.
So, when should you start long-term care planning? The answer is: sooner than you think. Here’s what you should consider.
Start in Your 50s or Early 60s—Before There’s a Crisis
The best time to start long-term care planning is before you actually need it. Starting in your 50s or early 60s allows you to plan while you’re still healthy and have more financial options available. Planning ahead gives you time to:
- Understand potential long-term care costs
- Evaluate long-term care insurance
- Reposition assets to qualify for benefits like Medicaid
- Create legal documents such as powers of attorney or healthcare surrogates
- Choose who will make decisions for you if you’re ever unable to do so yourself
Waiting until after a health crisis, diagnosis, or sudden hospitalization often limits your options and puts unnecessary pressure on your family.
Long-Term Care Isn’t Just About Nursing Homes
Many people delay planning because they associate long-term care only with nursing homes. In reality, long-term care includes a wide range of services, such as:
- Home health care
- Assisted living
- Adult day care
- Memory care
- Skilled nursing facilities
You might want to stay in your home as long as possible. If that is the case, planning ahead makes that more likely. An experienced elder care attorney can help you explore how to arrange care that aligns with your preferences and budget.
Early Planning Helps Protect Assets
Long-term care is expensive. In Florida, nursing home care can cost over $100,000 per year. Without a plan, these costs can quickly deplete your savings. However, with careful legal planning, including asset protection strategies and Medicaid planning, you can preserve your assets for your spouse or heirs while still qualifying for necessary care.
The earlier you plan, the more strategies are available. For example, Medicaid has a five-year look-back period, so early action can mean the difference between being eligible or having to pay out-of-pocket.
Planning Also Protects Your Family
When there’s no long-term care plan in place, the burden often falls on family members to make tough decisions during a stressful time. Long-term care planning in advance provides your loved ones with a clear roadmap and reduces the risk of conflict. It also allows you to name trusted individuals to make financial and healthcare decisions on your behalf.
Your plan may include:
- Durable Power of Attorney
- Healthcare Surrogate Designation
- Living Will
- Trusts tailored to long-term care needs
These tools ensure your wishes are honored and allow your family to support you with confidence.
Ready to Start? We’re Here to Help
At The Millman Law Group, we understand how personal and complex long-term care planning can be. Our team works with individuals and families to create customized plans that address health, finances, and future goals. Whether you’re just starting to consider your options or need to act quickly, we’re here to help guide you through every step.
Don’t wait until it’s too late. Contact us today to schedule a consultation and begin the process of protecting your future and your family’s peace of mind.
Estate Planning Made Easy With Millman Law Group
Millman Law Group, PLLC is rare because it’s one of the only law firms that offer life planning in South Florida. From life care planning to the preparation of detailed estate plans, Millman Law Group has committed to serving Floridian elderly communities in Boca Raton, Palm Beach County, Ocean Ridge, Hillsboro Beach, and many other areas since 2018. Our dedicated team also specializes in special needs Trusts and catering to any age demographic because we know for certain it’s never too early to start preparing you and your family for your future. For the latest news in estate planning and elder care law, follow us on Facebook, Twitter, Linked In, and Pinterest. You can also contact us at 561-463-6480.