September is coming to a close. So is World Alzheimer’s Month.
Throughout September, we have talked about Alzheimer’s disease and its impact on Maine families. We have also looked at the different types of long-term care, the cost of care, and why estate planning should prepare for what may happen during your lifetime.
As we wrap up the month, there is one important message we hope families will remember:
Planning for aging and long-term care should not begin with a crisis.
None of us knows exactly what the future will bring.
We may remain independent for many years. We may need some help at home. We may become a caregiver for a spouse. At some point, we may need assisted living, memory care, or nursing home care.
We cannot plan for every possibility.
However, we can prepare for many of them.
What If Something Changed Tomorrow?
It is easy to put long-term care planning off until “someday.”
Unfortunately, someday can arrive quickly.
A fall, hospitalization, stroke, dementia diagnosis, or change in a spouse’s health can suddenly leave a family with many decisions to make.
For example:
- Who can make financial decisions?
- Who can speak with doctors and healthcare providers?
- Who can access bank accounts and important records?
- What type of care would the person want?
- How will the family pay for care?
- Could MaineCare or another program help?
These questions are difficult even when a family has time to prepare.
During a crisis, they can become overwhelming.
That is why planning ahead is so important.
Long-Term Care Does Not Always Mean a Nursing Home
One reason people may put off planning is that they do not think of themselves as someone who will need “long-term care.”
However, long-term care in Maine does not always mean living in a nursing home.
Care can take many forms.
A person may need help with meals, transportation, medications, or household tasks. Others may need assistance with bathing, dressing, or other daily activities.
That help may come from family members, paid caregivers, home health services, assisted living, memory care, or a nursing facility.
Needs may also change over time.
The goal of planning is not to predict exactly what type of care you will need. Instead, it is to think about your preferences and prepare for different possibilities.
Long-Term Care Planning Is More Than Documents
Wills, trusts, powers of attorney, and advance healthcare directives are important parts of an estate plan.
However, long-term care planning involves more than legal documents.
A good plan starts with you.
What matters most to you?
Would you want to remain at home for as long as possible?
Who would you trust to manage your finances?
Who understands your healthcare wishes?
Would your family know where to find your important documents?
Have you considered how the cost of care could affect your spouse or your savings?
Most importantly, does your family know what you want?
Legal documents can give someone authority to help you. However, conversations help that person understand how you want that authority used.
As we discussed in our article on estate planning for long-term care, a good estate plan should do more than direct what happens to property after death. It should also help protect you and provide a plan if you need assistance during your lifetime.
Make Sure the Right People Can Help
Choosing people you trust is an important part of planning.
A properly prepared power of attorney may allow someone to handle financial and legal matters for you.
An advance healthcare directive can identify the person you want involved in healthcare decisions if you cannot make those decisions yourself.
Still, having these documents is only part of the process.
The people you choose should know that you selected them. They should also know where your documents are located.
This can be especially important when Alzheimer’s disease or another form of dementia is involved.
Planning early gives a person the opportunity to participate in important decisions. Waiting too long may limit the planning options available.
Think About the Cost of Care Before You Need It
Long-term care can be expensive.
For families facing Alzheimer’s disease or another form of dementia, care needs may also increase over time. As we explored in our discussion of the cost of Alzheimer’s care in Maine, families may face costs at several different stages of care.
That is another reason financial planning should be part of the conversation.
Start by looking at your resources. These may include:
- Income and savings
- Retirement accounts
- Real estate
- Insurance
- Investments
- Other assets
For some families, planning may also include learning about MaineCare and other benefits that could help pay for future care.
The key is to start before care is urgently needed.
Proactive long-term care and MaineCare planning can be very different from trying to make decisions after someone already needs care.
Also, be careful about making financial changes based on advice from friends, neighbors, or information found online.
Every family is different.
Before transferring property, giving away assets, or making major financial changes, understand how those decisions could affect you.
Talk With Your Family
One of the easiest planning steps does not require a legal document.
Have a conversation.
Talk with your spouse.
Talk with your adult children.
Talk with the people you have chosen to help you.
Tell them what matters to you.
For example, discuss whether staying at home is important to you. Talk about your thoughts on assisted living, memory care, or nursing home care.
If you own a family camp, business, rental property, or another important asset, talk about that too.
These conversations may feel uncomfortable.
However, having them now can make future decisions much easier.
Five Questions to Ask Yourself
As World Alzheimer’s Month comes to an end, ask yourself these five questions:
- If I needed help tomorrow, who would I trust to help me?
- Does that person have the legal authority needed to help?
- Does my family know what kind of care I would prefer?
- Have I considered how long-term care could affect my finances and my family?
- Has my estate plan been reviewed with long-term care in mind?
You do not need to have every answer today.
Instead, use these questions to identify where your planning may need attention.
Awareness Is Only the Beginning
World Alzheimer’s Month brings attention to a disease that affects individuals, caregivers, and families around the world.
However, the need for planning does not end when September does.
Families will continue caring for aging parents.
Spouses will continue caring for each other.
People will receive diagnoses that change their plans for the future.
Families will also face decisions about home care, assisted living, memory care, nursing care, finances, and public benefits.
We cannot remove all of the uncertainty that comes with aging.
But we can prepare for it.
Planning ahead gives you time to consider your choices while they are still yours to make.
It can also help your family understand your wishes.
Finally, it can put important legal and financial tools in place before they are urgently needed.
That may be one of the most important lessons to take from World Alzheimer’s Month:
Awareness starts the conversation. Planning helps prepare us for what comes next.
Don’t Wait for a Crisis to Start Planning
At Aging In Maine, we help Maine individuals and families plan ahead for aging, estate planning, and the possibility of future long-term care.
You do not need to know whether you will eventually need long-term care to start planning.
Perhaps your estate plan has not been reviewed in several years. Maybe long-term care was never discussed when your documents were prepared. Or perhaps you simply want to know whether your current plan still meets your needs.
Any of these can be a good reason to take another look.
Planning ahead does not mean predicting the future. It means being better prepared for it.
To learn more about proactive estate and long-term care planning, contact Aging In Maine at (207) 848-5600.
This article is for general educational purposes only and is not legal advice. Estate planning, long-term care planning, asset protection, and MaineCare eligibility depend on individual circumstances and current law. Medical questions about Alzheimer’s disease, dementia, or other health conditions should be discussed with an appropriate healthcare professional.
