Partly through the miracle of modern medicine, people are living longer. This means that long-term health care planning becomes an important focus for Massachusetts residents as they age. Many older people spend their last years in nursing homes, their own homes or long-term care facilities.
These facilities provide the medical monitoring and assistance that family members may not be able to provide. Even staying at home could require the assistance of a medical professional who comes into the home. Sometimes, family members can provide the funds needed to provide the best care possible for a loved one, but they may not be able to do so for as long as may be needed. How an individual spends his or her last days can largely depend on the funds he or she has available.
For this reason, planning is essential. For instance, many people use trusts, which can protect your assets so they are there when you need them. This will keep the government and others from accessing the money and assets you put aside to take care of yourself. This is only one of the options available. A review of your current financial situation and your goals will help determine what would be the best course of action to achieve those goals.
Most Massachusetts residents have a vision of how they want to spend their retirement years. Making that dream a reality may be possible with the proper planning. Consulting with an attorney familiar with estate planning could provide you with the tools you need in order to begin the journey toward that vision. More information regarding the formation of an estate plan and conducting long-term health care planning is on our firm site.