Alzheimer's is a degenerative disease that impacts the brain in many ways, though it is most commonly associated with memory loss. People who suffer from it eventually have trouble living alone because they can become a risk to themselves -- forgetting to turn off the stove, for instance, or forgetting how to get home.
As you move toward retirement age and start getting your estate planning in order, you're likely thinking about the potential need for long-term care. Unfortunately, this isn't the type of care you receive with the hope of recovery; it generally means that the impact of aging has made it difficult for you to care of yourself indefinitely.
Are you unsure exactly how much long-term care planning you need to do? Maybe you think it's not that expensive or that you'll easily just pay for it out of pocket.
Over roughly the last two decades, attitudes about long-term care have changed. One expert noted that the change started around the year 2000.
While doing your long-term care planning and medical planning, it's important to know exactly what documents you can use to reinforce your wishes. You must do more than just tell family members what you want. To really be prepared, get it in writing.
Long-term care can be costly and expensive. If a Texas resident doesn't plan his or her estate the right way, the costs associated with long-term care could quickly deplete the individual's savings, and leave nothing for his or her heirs. However, if you plan for long-term care the right way by setting up a trust or potentially buying long-term care insurance, you can preserve your assets and the legacy you plan to leave behind for your loved ones.
We may all look to our golden years as the best times of our lives. While this may be true for some people, the aging process may not be so kind. Essentially, we may have to look to assisted living center and nursing homes if living by ourselves is no longer an option.