For aging parents with adult children who have special needs, the need for long-term care planning is undeniable.
Taking the initiative to plan ahead is a proactive approach that can benefit your family in numerous ways.
1. Financial stability
Financial stability is a cornerstone of any successful long-term care plan. By initiating the planning process now, you can establish a solid financial foundation to support your loved ones. Without careful planning, the costs associated with special needs care can be overwhelming. Early planning allows you to identify available resources, make informed decisions and explore various financial options, such as insurance, savings, and government assistance programs.
2. Tailored care solutions
Each family is unique, and the needs of your loved ones are equally distinct. Commencing long-term care planning early affords you the opportunity to create tailored care solutions. Whether it is finding the right care facilities, in-home care providers, or special education programs, early planning ensures that you have the time and resources to identify and implement the best options for your family’s specific circumstances.
3. Emotional and mental preparedness
Caring for a family member with special needs can be emotionally and mentally challenging. Initiating long-term care planning early can give you and your family the necessary time to adjust to these challenges. It also allows you to establish a support system, seek counseling or therapy, and access community resources that can offer emotional and mental support for the journey.
Along with planning for your child’s future, it is also important to consider your potential long-term care needs. A person turning 65 has a 70% likelihood of needing some form of support and care during the remainder of their life.