Most people cannot afford this. Unfortunately, when families cannot afford to pay for these needed medical expenses they oftentimes deplete their hard-earned assets, retirement accounts and principal residences to pay for the care that is required for someone they love.
SACRAMENTO, Calif. (PRWEB)
November 12, 2019
Caring for an elderly loved one suffering from a catastrophic illness or disease, such as Alzheimer’s, Dementia, Parkinson’s, heart disease, stroke or Multiple Sclerosis, can be very expensive and all-consuming. In fact, according to a study by the National Alliance for Caregiving and AARP, 16 percent of women caregivers and 6 percent of men take a less demanding job to care for a loved one, and 12 percent of women and 3 percent of men quit work altogether. AARP research further notes this can lead to a loss of $304,000 in wages and benefits on average over a lifetime.
“Most people cannot afford this,” said elder law attorney Dustin MacFarlane, founder of Senior Citizen Lawyer. “Unfortunately, when families cannot afford to pay for these needed medical expenses they oftentimes deplete their hard-earned assets, retirement accounts and principal residences to pay for the care that is required for someone they love.”
Keep in mind that the vast majority of seniors and older people enter their “Golden Years” without a strategy or plan to protect their hard-earned assets from having to be depleted to pay for long-term health care expenses. Furthermore, if assets are depleted to pay for long-term care or extended hospital stays, there will be nothing left in one’s estate to leave family members, loved ones and children. “This can be devastating to most seniors and their families for years to come,” added MacFarlane.
Although a small percentage of seniors and their families can afford to spend thousands of dollars a day on private nursing and long-term care, a great number of families will lose most, if not all, of their assets and savings in a matter of months paying for these expenses. “Protecting family assets and preparing for your future and the future of your children is Senior Citizen Lawyer’s top priority and what we do best,” concluded MacFarlane. “We have 10 years of unique legal experience and know how to help you and your loved ones protect assets and family legacies for generations to come.”
For more information, call Senior Citizen Lawyer for a free and confidential asset protection consultation at (916) 407-0528. Dustin MacFarlane primarily focuses on elder law and protecting families and seniors. He is a member of the National Academy of Elder Law Attorneys; Real Property, Trust and Estate Law Section; and Sacramento County Bar Association, Trusts and Estates Section.
About Senior Citizen Lawyer
Senior Citizen Lawyer provides asset protection, healthcare and financial management plans, and structures to preserve legacies after a loved one passes away. It helps with Medi-Cal long-term qualifications, Medi-Cal irrevocable trusts, estate planning, wills, revocable living trusts, asset protection trusts, special needs trusts, health care directives, disability planning and much more. For more information, please call (916) 407-0528, or visit https://www.seniorcitizenlawyer.com/.
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