Can I rely on my children for care?

Question

As things stand, I have watched older relatives need help with bathing, dressing, transportation, and eventually facility care. As things stand, the costs were much higher than our family expected, and I do not want my own plan to assume Medicare or my children will cover everything. The outcome matters to someone else in my household, not just to me, which makes access to cash, tax effects, and flexibility especially important.

Soradin · Accepted Answer

Family support may be part of the plan, but availability, health, location, work, and financial strain should be discussed openly. For this planning decision, long term care planning considers who would provide care, where it would occur, how it would be paid for, and how caregiving would affect family members. A useful written plan should make clear cash needs, timing, taxes, liquidity, and the risk of a bad outcome before money is committed.

Can I rely on my children for care?

Soradin

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