Page 31 - Leisure Living Magazine Holiday 2017

Why Your Family Needs You
To Plan For Long Term Care
By Christine Johnston, Nemecek Insurance & Financial Services
Long Term Care is a subject that is on the minds of many people in America today. While it may be something you are considering for yourself, another reason to consider it could be right in front of you and very simple: your family. Past history has shown us that parents who do not plan adequately for their long term care needs can ultimately end up sacrificing their income, assets and financial promises that they have made, perhaps irrevocably, in order to pay for their care. One thing that perhaps isn’t taken into account by parents is the potential physical, emotional and financial damage that is done to family members if they have to become personally involved in delivering your long term care plan. If you have family and you do not have a long term care plan and you need the services that are associated with long term care, what prior experience has demonstrated is that your children and family become your Long Term Care plan. After all, what choice will you have given them?
There are a myriad of issues to consider when a family gets involved in their parent’s long term care plan; among them: time management, geography and funding. Think about how pressed for time your children already are---balancing families, careers and activities with children. Ponder also the challenges that could ensue from a care giving perspective geographically speaking if you do not all live in the same city. Then there are funding issues to consider as well, because someone has
to pay for the care. Further, multiple polls have taught us that most children do not want to take care of their parents, but when faced with these circumstances—they can and almost always do care for their parents, even if their relationship is not strong with them. CLTC@CLTC.COM
Long Term Care and the challenges associated with it can often require more and more of family members’ involvement as time passes. The collateral damage that can be associated with being directly involved in a family member’s long term care plan can often involve irreversible damage to relationships within the caregivers. Keep in mind also the opportunity costs that your family could be experiencing as it relates to their career, children, church or synagogue because of the time that is usually allocated to these aforementioned items has now been allocated to you.
There are a variety of ways available to possibly remove this potential burden from your family.
Talk to a Certified Long Term Care representative to become more educated and informed as to what your Long Term Care Planning Options may be.
Christine Johnston is a licensed Insurance Agent with Nemecek Agency in Port Clinton, Ohio. She has worked in the financial services industry for 25 years and focuses on retirement preparation for mature clients. She holds the Certification in Long-Term Care (CLTC) designation. C.johnston@nationwide. com
Securities and Investment Advisory Services offered through Nationwide Securities, LLC., member FINRA, SPIC and a Registered Investment Advisor. DBA Nationwide Advisory Services, LLC. in AR, CA, FL, IL, NY, TX and WY. Representative of Nationwide Life Insurance Company, affiliated companies and other companies FEM-6094AO(10/17)
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