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This class is designed to help you acheive the following outcomes in your pursuit of long term care planning for you or your loved ones:
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Knowing in advance how to implement care coordination, how to provide caregiver counseling and how to find the best care setting.
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Implementing strategies to bring a care plan together and providing funds to pay for care before the need arises.
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Putting together an estate plan that addresses the issues of long-term care and avoids costly and heart-rending problems that may arise.
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Helping those who failed to plan but currently need care, by providing financial and legal strategies to pay the costs and lessen the burden of Medicaid.
Elder care planning should be done as part of the preparation for retirement. This is because it is significantly cheaper to set aside money now to fund future care than to wait until one gets into his or her 70's or 80's. Choosing the right source of funding at an early age is crucial because funding will predetermine the choice of settings available for future care.
Long term care planning can also be useful for older people who failed to plan when they were younger. These people will likely be forced to rely on Medicaid for their care. This workshop and the resulting plan offer strategies to lessen the financial and emotional impact on potential Medicaid recipients and their families.
Outline of Instruction
What is long term care?
The coming crisis in long term care.
Overview of planning strategies.
About caregivers.
- The personal care coordinator.
- The informal caregiver.
- The formal caregiver.
Caregiving settings or arrangements.
- Aging in place--home or community
- Assisted living.
- Nursing homes.
Funding the cost of eldercare.
- Long term care insurance.
- Contingency, reverse mortgage.
- Sell assets, family arrangement.
- Life insurance and life settlement.
- Medicare.
- Medicaid.
- Area Agencies on Aging.
Strategies to lessen the impact of Medicaid.
- Exempt transactions.
- Income shifting.
Creating legal documents
- Trust, will and who-gets-what list.
- Living will, medical treatment plan.
- Powers of attorney.
- Providing important documents.
Designing a plan for you or your parents.
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