Pre-Crisis Life Care Planning
Trigger Events: Nature’s Early Warning System
The right time to develop a Life Care Plan is immediately after what we call a trigger event, which is any event that leaves you concerned about your loved one's future.
A diagnosis of a long-term illness such as Alzheimer’s disease, dementia, or Parkinson’s disease is the most common trigger event for a Pre-Crisis Life Care Plan. Your loved one may be doing fine right now, but the long-term care journey has started and it’s only a matter of time before your loved one’s changing condition will trigger an asset protection crisis that could have grave legal, financial, and emotional consequences.
Procrastination Can Be Costly
With long-term care costs as much as $150,000 per year, it has never been more important to plan carefully for the funding of a loved one’s care. Since no one can predict how many years long-term care will be needed, a Pre-Crisis Life Care Plan may be the single most important step you can take to avoid the multiplier effect of costly bad decisions. With so much at stake, even the most financially secure families find that the relatively small investment pays for itself many times over during a loved one’s long-term care journey.
If you wait until your loved one can no longer live safely at home to create your Life Care Plan, you will pay more for care arranged at the last minute, your elderly loved one will have fewer good choices, and the emotional and physical toll on family caregivers will be great.
That's why Pre-Crisis Life Care Planning is so valuable. Creating a Life Care Plan for your loved one shortly after a trigger event or diagnosis increases the odds that your loved one will be able to live at home longer. When care and services are in place early, the need for long-term care outside the home can often be avoided. You have a much better chance of getting the results you and your loved one value most.
More Peace of Mind
A Pre-Crisis Life Care Plan Can Help You Avoid Disaster
Your loved one’s Pre-Crisis Life Care Plan will include a customized blend of the services appropriate for his or her situation, including elder law, estate planning, Medicaid planning, VA benefits planning, care coordination, insurance support, advocacy, and asset protection strategies.
When you have a Life Care Plan, there’s no more crisis du jour. There’s no more last-minute rush. You’re prepared. You have guidance. You have more options, a better understanding of the implications of those options, and the opportunity to preserve more of the loved one’s estate.