It’s hard to know just how to plan for aging parents, but it’s especially hard for adult children with their own lives and responsibilities. There are several factors to consider when contemplating long term care for elderly parents.
When it comes to aging parents and elder care, the living circumstances for your parents should be one of your initial considerations. Those who wish to provide their parents with hands-on care should care for them at home. Beginning a connection with an experienced caregiver may be beneficial. They can assist you with understanding how to plan for and care for aging parents.
If you wish to place your parents in a senior living community, there are numerous options for elder care, including independent living communities, nursing homes, and assisted living facilities. Many of these living arrangements provide personal care, and some offer medical help. However, many elderly people would rather age in their own homes, and dislike relocating.
An in-home caregiver may be superior to the other two possibilities, depending on the level of care your elderly parent requires. Caregivers will enter your parent’s home and provide them with skilled, hands on support. Moreover, depending on their individual needs, several home care agencies can offer respite care and 24-hour services.
Finances are another essential item. The level of care available depends on their financial status. Consider any benefits from Social Security, veterans assistance, and their insurance and retirement plans. If they lack the necessary financial resources, the cost may partially or totally fall on your shoulders. Fortunately, tax credits and deductions are available to family caregivers.