Long-Term Care Planning

As we age, we begin to consider our options for when we can no longer care for ourselves. Long-term care involves services that aim to preserve someone’s quality of life and meet their health and personal needs. Planning for it can allow you to live as independently as possible for as long as possible.

Our founder at the Law Office of Harvey L. Cox is an experienced long-term care planning attorney with a deep understanding of the issues surrounding long-term care. At our Waco and Round Rock offices, we will meet with you and conduct a thorough review of all the relevant information necessary to develop a comprehensive long-term care plan. We can help you protect your assets for your spouse and family and plan your estate to ensure flexibility as your circumstances and needs change.

Making Long-Term Care Accessible To You

Long-term care encompasses both medical and non-medical support for individuals who are unable to perform basic daily activities, such as bathing or dressing. Depending on the person’s needs, long-term care can be provided at home or in a facility designed for such care.

There are various options for long-term care, including:

• In-home care
• Assisted living
• Nursing homes
• Adult day cares

People who have severe and ongoing health conditions or disabilities are most at risk for needing long-term care. As people get older or their illness worsens, their need for care may increase. Long-term care can get expensive, whether delivered at home or in a nursing home. The kind of care and the level of help available depend on a person’s financial situation. Nursing homes are typically the most expensive type of long-term care.

Long-term care can be paid for through personal funds, such as pensions and income from stocks or bonds. Older individuals may be eligible for government health care benefits that will help with care-related costs. Medicare does not cover the costs of assisted living or other long-term care.

At the Law Office of Harvey L. Cox, we will help you prepare when you require this type of care. Through estate planning measures, such as creating life estates, trusts, and establishing powers of attorney, we can help you set up a plan to cover your care if needed.

Frequently Asked Questions About Texas Long-Term Care Planning

Long-term care planning can be confusing, and our firm often hears similar questions from many clients. Here are some of the most common:

How much does long-term care cost in Texas?

Long-term care costs can vary depending on your location and the type of care required. As of 2024, insurance estimates indicate that in-home care in Texas can range from approximately $39,000 to $63,000 per year, while assisted living can range from roughly $35,000 to more than $77,000 per year. Nursing home care is the most expensive, ranging from approximately $60,000 to $89,000 per year.

How can you pay for long-term care?

Generally, individuals must rely on their assets, long-term care insurance, or Medicaid to cover the costs of long-term care. It is often possible for people to qualify for Medicaid services – even when they have significant assets – through careful advance planning. An experienced Waco long-term care attorney can show you how to navigate the Medicaid maze to protect your future.

What are the benefits of long-term care insurance?

Long-term care insurance can cover the costs of care in various settings, including care at home (not just assisted living facilities and nursing homes). Long-term care insurance often helps cover caregiving “gaps” when family members are unable to shoulder the financial, emotional, and physical burdens of providing long-term care for a loved one.

How does Medicaid fit into long-term care planning?

Medicaid can help cover the costs of long-term care and other supportive services in your own home or a facility. It’s the primary source of funds for adult day care services, community-based care management and support, visiting nurses, assisted living, and nursing home care. Medicaid planning is a crucial component of any comprehensive long-term care planning process. Legal guidance can help cut through the red tape and make sure that your future needs are fully anticipated.

Plan For Long-Term Care Before You Need It

You can never be certain if you will require long-term care in the future. However, it is always best to prepare for anything. Planning for the possibility of long-term care allows you to protect your future and make important decisions while you still can. Contact us today to schedule a consultation and discover how we can assist you in planning for long-term care.

With offices in Waco and Round Rock, we are conveniently located near Interstate 35. Call us at 254-233-7300.