“My Spouse is never going to that sort of place.”
Nearly every month we meet with someone who has questions about paying for long term care but then do not want to do anything to plan for that care because they are never going to put their spouse into care and they, themselves, are feeling fine.
The fallacy in this logic is simple, what will happen to your spouse when you have a sudden onset incident that lands you in the hospital, rehab, and long term care?
Except for people who handle marketing for Skilled Nursing Facilities I don’t know anyone who longs for the days when they can share a double occupancy room in a care facility and live every day looking at the same view. Not to imply that there aren’t wonderful facilities with dedicated staff and lots of options for those able to take advantage of them. Rather, I am simply stating that in nearly 40 years of handling elder law cases I have not once seen a patient who just packed a bag and made a decision one day to check into a skilled nursing facility (instead of a nearby Hilton) and stay until the money runs out.
But, the reality is this. If you are alive today in the continental United States, there is a better than 85% chance that you will die in a long term care facility. Since the current average daily rate for care is around $238, that means that planning is most assuredly in order.
This article is written by an attorney at Attorney Donald Wyatt PC. Always consult an attorney before making any legal decisions. To make an appointment today, please click here to contact us.