As New York City residents age, many likely have questions and concerns about their futures, including Medicare. Fears about declining physical and mental health are often on the minds of retirees who may have watched parents or friends cope with difficult late-life circumstances.

While there’s no way to predict the future and know what one’s long-term care needs may be, there are ways to ensure that one is better prepared for whatever the future holds. By taking steps to establish a comprehensive estate plan, an individual can ensure that he or she will be better positioned to afford adequate and appropriate long-term housing and medical care.

Understanding Medicare and one’s related costs is an important part of planning for possible long-term housing and care needs. However, for many retirees, attempting to sort out choices and best options for Medicare coverage is confusing and overwhelming.

Because of this, many people can benefit from the advice and guidance provided by an estate planning attorney. According to the Administration on Aging, seven out of 10 individuals age 65 and older “expect to use some form of long-term care during their lives.” Given these statistics, it’s critical that individuals take steps to plan for long-term care needs as soon as possible.

Taking steps to start Medicare planning, allows an individual to assess his or her best choices with regard to whether a nursing home, assisted living facility or home health care service is the best option. Everyone’s situation is different and an attorney can help an individual weigh numerous factors to determine the best options.

Source: Medicare.gov, “What are my other long-term care choices?“, June 3, 2015

Additional resources provided by the author

For more information, please contact estate planning attorney Regina Kiperman:
Phone: 917-261-4514
Email: rkiperman@rklawny.com
Or visit her at her new location:
80 Maiden Lane
Suite 304
New York, NY 10038

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